Boyd Gaming Co. (NYSE:BYD – Get Rating) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 17,539 put options on the company. This is an increase of approximately 1,420% compared to the average volume of 1,154 put options.
Wall Street Analyst Weigh In
BYD has been the subject of a number of research reports. Stifel Nicolaus reduced their price target on shares of Boyd Gaming from $84.00 to $73.00 in a research report on Wednesday, July 27th. KeyCorp set a $70.00 price target on Boyd Gaming in a research report on Tuesday, July 19th. StockNews.com upgraded shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 26th. Truist Financial dropped their target price on shares of Boyd Gaming from $90.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Finally, Barclays began coverage on shares of Boyd Gaming in a report on Tuesday, June 28th. They issued an “overweight” rating and a $63.00 price target on the stock. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $75.36.
Boyd Gaming Trading Down 0.9 %
NYSE BYD traded down $0.48 during trading hours on Tuesday, hitting $52.23. 12,849 shares of the company’s stock were exchanged, compared to its average volume of 957,840. The business’s 50 day moving average is $54.84 and its 200-day moving average is $57.65. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.74 and a current ratio of 0.78. Boyd Gaming has a 12-month low of $47.66 and a 12-month high of $72.72. The firm has a market capitalization of $5.72 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 0.95 and a beta of 1.85.
Boyd Gaming (NYSE:BYD – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.10. Boyd Gaming had a net margin of 16.03% and a return on equity of 40.76%. During the same quarter last year, the company posted $1.54 EPS. As a group, analysts anticipate that Boyd Gaming will post 5.5 EPS for the current fiscal year.
Boyd Gaming Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Friday, September 30th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, September 29th. Boyd Gaming’s payout ratio is currently 12.12%.
Institutional Trading of Boyd Gaming
A number of institutional investors have recently added to or reduced their stakes in BYD. Whittier Trust Co. acquired a new position in shares of Boyd Gaming during the first quarter worth about $27,000. Lazard Asset Management LLC boosted its holdings in Boyd Gaming by 1,588.2% in the 2nd quarter. Lazard Asset Management LLC now owns 574 shares of the company’s stock worth $28,000 after acquiring an additional 540 shares during the period. Geneos Wealth Management Inc. grew its position in Boyd Gaming by 50.0% in the second quarter. Geneos Wealth Management Inc. now owns 600 shares of the company’s stock valued at $30,000 after acquiring an additional 200 shares in the last quarter. Spire Wealth Management acquired a new stake in Boyd Gaming in the second quarter valued at approximately $30,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Boyd Gaming during the first quarter valued at approximately $33,000. 92.40% of the stock is owned by hedge funds and other institutional investors.
About Boyd Gaming
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.
- Get a free copy of the StockNews.com research report on Boyd Gaming (BYD)
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