Boyd Gaming (BYD) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Boyd Gaming (NYSE:BYD) from a buy rating to a hold rating in a report published on Friday.

According to Zacks, “Headquartered in Las Vegas, Boyd Gaming Corporation is a leading diversified owner and operator of 22 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. “

A number of other analysts also recently issued reports on BYD. ValuEngine downgraded shares of Boyd Gaming from a buy rating to a hold rating in a report on Monday, October 2nd. Bank of America upgraded shares of Boyd Gaming from a neutral rating to a buy rating and set a $42.00 price target on the stock in a report on Friday. Stifel Nicolaus reiterated a hold rating on shares of Boyd Gaming in a report on Thursday, December 21st. Nomura lifted their price target on shares of Boyd Gaming to $42.00 and gave the company a buy rating in a report on Tuesday, December 19th. Finally, Morgan Stanley set a $28.00 price target on shares of Boyd Gaming and gave the company a hold rating in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $30.80.

Shares of Boyd Gaming (NYSE:BYD) opened at $35.99 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.73 and a debt-to-equity ratio of 2.95. The stock has a market cap of $4,060.00, a price-to-earnings ratio of 43.36 and a beta of 1.82. Boyd Gaming has a fifty-two week low of $19.19 and a fifty-two week high of $37.07.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $587.70 million during the quarter, compared to the consensus estimate of $592.29 million. Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. equities research analysts predict that Boyd Gaming will post 1.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Thursday, December 28th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. Boyd Gaming’s payout ratio is currently 24.10%.

Several large investors have recently modified their holdings of BYD. FMR LLC grew its stake in shares of Boyd Gaming by 531.0% in the 2nd quarter. FMR LLC now owns 1,418,700 shares of the company’s stock worth $35,199,000 after buying an additional 1,193,874 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Boyd Gaming by 34.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 4,566,570 shares of the company’s stock worth $118,959,000 after buying an additional 1,181,986 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Boyd Gaming in the 2nd quarter worth $26,973,000. Bamco Inc. NY grew its stake in shares of Boyd Gaming by 94.8% in the 2nd quarter. Bamco Inc. NY now owns 1,384,937 shares of the company’s stock worth $34,360,000 after buying an additional 674,100 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Boyd Gaming in the 3rd quarter worth $11,723,000. 76.22% of the stock is owned by institutional investors and hedge funds.

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Boyd Gaming Company Profile

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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