Equities researchers at JMP Securities started coverage on shares of Boyd Gaming (NYSE:BYD – Get Rating) in a research report issued on Friday, The Fly reports. The firm set an “outperform” rating and a $65.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 34.21% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Boyd Gaming to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 26th. KeyCorp set a $70.00 target price on shares of Boyd Gaming in a research note on Tuesday, July 19th. Loop Capital began coverage on shares of Boyd Gaming in a research note on Monday, July 11th. They set a “buy” rating and a $86.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Boyd Gaming from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Boyd Gaming has an average rating of “Buy” and an average price target of $74.50.
Boyd Gaming Price Performance
Shares of Boyd Gaming stock opened at $48.43 on Friday. Boyd Gaming has a twelve month low of $47.66 and a twelve month high of $72.72. The company has a quick ratio of 0.74, a current ratio of 0.78 and a debt-to-equity ratio of 1.87. The company has a 50-day simple moving average of $54.88 and a two-hundred day simple moving average of $57.48. The stock has a market capitalization of $5.31 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.93 and a beta of 1.85.
Boyd Gaming (NYSE:BYD – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.10. Boyd Gaming had a net margin of 16.03% and a return on equity of 40.76%. The business had revenue of $894.45 million during the quarter, compared to analysts’ expectations of $870.71 million. During the same period in the prior year, the company earned $1.54 EPS. Analysts forecast that Boyd Gaming will post 5.5 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in BYD. Whittier Trust Co. bought a new stake in Boyd Gaming in the first quarter valued at $27,000. Lazard Asset Management LLC boosted its holdings in shares of Boyd Gaming by 1,588.2% during the 2nd quarter. Lazard Asset Management LLC now owns 574 shares of the company’s stock valued at $28,000 after buying an additional 540 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Boyd Gaming by 50.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 600 shares of the company’s stock valued at $30,000 after buying an additional 200 shares in the last quarter. Spire Wealth Management bought a new stake in shares of Boyd Gaming during the 2nd quarter valued at $30,000. Finally, Prospera Financial Services Inc bought a new stake in shares of Boyd Gaming during the 1st quarter valued at $33,000. 92.40% of the stock is owned by hedge funds and other institutional investors.
Boyd Gaming Company Profile
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of December 31, 2021, the company operated 28 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
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