Boyd Gaming (NYSE:BYD) had its price target lowered by research analysts at S&P Equity Research from $15.45 to $1.25 in a report issued on Wednesday, The Fly reports. S&P Equity Research’s target price suggests a potential downside of 91.73% from the stock’s previous close.
Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Boyd Gaming from $39.00 to $20.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Deutsche Bank reiterated a “buy” rating and issued a $22.00 target price (down from $42.00) on shares of Boyd Gaming in a research note on Tuesday, April 28th. Nomura Securities reiterated a “buy” rating and issued a $39.00 target price on shares of Boyd Gaming in a research note on Tuesday, February 25th. Morgan Stanley cut their target price on shares of Boyd Gaming from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Finally, SunTrust Banks raised their price objective on shares of Boyd Gaming from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. Boyd Gaming has an average rating of “Buy” and a consensus price target of $24.35.
BYD stock traded down $1.58 during trading hours on Wednesday, reaching $15.12. 2,327,260 shares of the stock were exchanged, compared to its average volume of 2,073,101. The firm’s 50-day moving average is $14.95 and its 200-day moving average is $24.90. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 18.42 and a beta of 2.27. The company has a debt-to-equity ratio of 3.62, a current ratio of 0.72 and a quick ratio of 0.68. Boyd Gaming has a 12 month low of $6.44 and a 12 month high of $36.22.
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Boyd Gaming (NYSE:BYD) last released its earnings results on Tuesday, April 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.30). The firm had revenue of $680.53 million for the quarter, compared to the consensus estimate of $664.46 million. Boyd Gaming had a return on equity of 12.27% and a net margin of 2.95%. Boyd Gaming’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. As a group, equities research analysts forecast that Boyd Gaming will post -2.4 earnings per share for the current year.
In other news, VP William R. Boyd acquired 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were acquired at an average cost of $19.70 per share, with a total value of $29,550.00. Following the completion of the purchase, the vice president now directly owns 45,289 shares of the company’s stock, valued at approximately $892,193.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William S. Boyd acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was purchased at an average cost of $16.07 per share, for a total transaction of $1,607,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 101,750 shares of company stock valued at $1,641,500. 29.08% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in BYD. C M Bidwell & Associates Ltd. acquired a new position in shares of Boyd Gaming during the fourth quarter valued at about $47,000. CWM LLC grew its position in Boyd Gaming by 7,865.9% in the 1st quarter. CWM LLC now owns 3,266 shares of the company’s stock worth $47,000 after purchasing an additional 3,225 shares in the last quarter. NEXT Financial Group Inc grew its position in Boyd Gaming by 34.1% in the 1st quarter. NEXT Financial Group Inc now owns 3,346 shares of the company’s stock worth $48,000 after purchasing an additional 850 shares in the last quarter. Windsor Creek Advisors LLC bought a new stake in Boyd Gaming in the 1st quarter worth about $61,000. Finally, PNC Financial Services Group Inc. grew its position in Boyd Gaming by 89.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,341 shares of the company’s stock worth $63,000 after purchasing an additional 2,046 shares in the last quarter. Hedge funds and other institutional investors own 71.12% of the company’s stock.
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 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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