Boyd Gaming (BYD) Sets New 1-Year High at $34.12

Shares of Boyd Gaming Co. (NYSE:BYD) hit a new 52-week high during trading on Monday . The stock traded as high as $34.12 and last traded at $34.07, with a volume of 1086045 shares. The stock had previously closed at $32.33.

BYD has been the subject of several research analyst reports. ValuEngine upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Wednesday, October 4th. Telsey Advisory Group raised their price objective on shares of Boyd Gaming from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, October 12th. Morgan Stanley set a $28.00 price objective on shares of Boyd Gaming and gave the stock a “hold” rating in a report on Tuesday, October 24th. Finally, SunTrust Banks restated a “buy” rating and issued a $27.00 price objective on shares of Boyd Gaming in a report on Tuesday, October 24th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Boyd Gaming presently has an average rating of “Buy” and an average price target of $28.00.

The company has a market cap of $3,636.25, a price-to-earnings ratio of 27.40 and a beta of 1.81. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.68 and a current ratio of 0.73.

Boyd Gaming (NYSE:BYD) last released its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.01). Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The business had revenue of $587.70 million for the quarter, compared to analysts’ expectations of $592.29 million. During the same quarter in the previous year, the business posted $0.14 earnings per share. Boyd Gaming’s revenue for the quarter was up 10.5% on a year-over-year basis. equities analysts predict that Boyd Gaming Co. will post 1.05 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Thursday, December 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Wednesday, December 27th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. Boyd Gaming’s payout ratio is 19.23%.

Several hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank lifted its holdings in shares of Boyd Gaming by 5.0% during the second quarter. Amalgamated Bank now owns 11,456 shares of the company’s stock valued at $284,000 after purchasing an additional 546 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Boyd Gaming by 17.6% during the second quarter. Victory Capital Management Inc. now owns 9,359 shares of the company’s stock valued at $232,000 after purchasing an additional 1,403 shares during the last quarter. Aperio Group LLC lifted its holdings in shares of Boyd Gaming by 4.7% during the second quarter. Aperio Group LLC now owns 31,737 shares of the company’s stock valued at $787,000 after purchasing an additional 1,426 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Boyd Gaming by 0.6% during the second quarter. American Century Companies Inc. now owns 350,004 shares of the company’s stock valued at $8,684,000 after purchasing an additional 2,086 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Boyd Gaming by 3.7% during the third quarter. California Public Employees Retirement System now owns 66,690 shares of the company’s stock valued at $1,737,000 after purchasing an additional 2,390 shares during the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

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About Boyd Gaming

Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.

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