Boyd Gaming (BYD) Rating Lowered to Sell at ValuEngine

ValuEngine lowered shares of Boyd Gaming (NYSE:BYD) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

Several other research firms also recently issued reports on BYD. Morgan Stanley set a $34.00 price objective on shares of Boyd Gaming and gave the stock a buy rating in a report on Friday, April 26th. TheStreet raised shares of Boyd Gaming from a c+ rating to a b rating in a report on Monday, March 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. Boyd Gaming currently has an average rating of Buy and an average price target of $34.88.

BYD stock traded down $0.18 during trading hours on Tuesday, hitting $26.55. The company’s stock had a trading volume of 5,671 shares, compared to its average volume of 1,177,386. The company has a quick ratio of 0.68, a current ratio of 0.72 and a debt-to-equity ratio of 4.08. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 0.74 and a beta of 2.09. Boyd Gaming has a 12 month low of $18.98 and a 12 month high of $39.35.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $827.30 million during the quarter, compared to the consensus estimate of $826.52 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 13.57%. Boyd Gaming’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. On average, research analysts expect that Boyd Gaming will post 1.8 EPS for the current fiscal year.

In related news, EVP Brian A. Larson sold 62,579 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $29.38, for a total transaction of $1,838,571.02. Following the completion of the transaction, the executive vice president now directly owns 130,088 shares in the company, valued at approximately $3,821,985.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Keith Smith sold 100,000 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $29.41, for a total transaction of $2,941,000.00. Following the transaction, the chief executive officer now owns 1,339,355 shares of the company’s stock, valued at $39,390,430.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 166,579 shares of company stock valued at $4,893,971. 29.35% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Sageworth Trust Co acquired a new position in Boyd Gaming during the 1st quarter valued at $28,000. State of Alaska Department of Revenue acquired a new stake in shares of Boyd Gaming during the 1st quarter worth about $46,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Boyd Gaming during the 1st quarter worth about $48,000. Strs Ohio increased its position in shares of Boyd Gaming by 400.0% during the 1st quarter. Strs Ohio now owns 3,000 shares of the company’s stock worth $82,000 after purchasing an additional 2,400 shares in the last quarter. Finally, HWG Holdings LP acquired a new stake in shares of Boyd Gaming during the 1st quarter worth about $89,000. Hedge funds and other institutional investors own 72.66% of the company’s stock.

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 March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Analyst Recommendations for Boyd Gaming (NYSE:BYD)

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