Boyd Gaming (NYSE:BYD) Now Covered by Analysts at JMP Securities

Equity Investigators at JMP Securities Started Covering Shares of Boyd Gaming (NYSE:BYD – Get Rating) in an investigative report released Friday, The Fly reports. The company stated an “outperform” rating and a price target of $65.00 on the stock. JMP Securities’ target price suggests a potential rate of increase of 34.21% from the company’s current price.

Other stock research analysts have also released reports on the stock. Wells Fargo & Company raised their price target for Boyd Gaming shares to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27. StockNews.com upgraded Boyd Gaming’s stock from a “buy” rating to a “strong buy” rating in a research note on Tuesday, July 26. KeyCorp set a target price of $70.00 on Boyd Gaming shares in a research note Tuesday, July 19. Loop Capital kicked off on Monday, July 11 in a stock research note from Boyd Gaming. They set a “buy” rating and a target price of $86.00 on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered its target price on Boyd Gaming shares from $77.00 to $73.00 and stated a “buy” rating for the shares in a research note on Wednesday, July 13. One research analyst has given the stock a hold rating, ten have given the stock a buy recommendation and two have given the stock a strong buy recommendation. 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 Friday for $48.43. Boyd Gaming has a 12-month low of $47.66 and a 12-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 ratio of 0.93 and a beta of 1.85.

Boyd Gaming (NYSE:BYD – Get Rating) last released its quarterly results on Tuesday, July 26. The company reported $1.48 earnings per share (EPS) for the quarter, surpassing analyst 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 company had revenue of $894.45 million for the quarter, compared to analyst expectations of $870.71 million. During the same period last year, the company earned $1.54 earnings per share. Analysts forecast Boyd Gaming to hit 5.5 EPS for the current year.

Institutional inflow and outflow

Several hedge funds have recently made changes to their positions in BYD. Whittier Trust Co. bought a new stake in Boyd Gaming worth $27,000 in the first quarter. Lazard Asset Management LLC increased its holdings of Boyd Gaming stock by 1,588.2% during the second quarter. Lazard Asset Management LLC now owns 574 shares of the company worth $28,000 after buying an additional 540 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings of Boyd Gaming stock by 50.0% during the second quarter. Geneos Wealth Management Inc. now owns 600 shares of the company worth $30,000, after buying another 200 shares in the last quarter. Spire Wealth Management purchased a $30,000 new stake in Boyd Gaming stock in the second quarter. Finally, Prospera Financial Services Inc bought a new stake in Boyd Gaming stock worth $33,000 in the first quarter. 92.40% of the shares are held by hedge funds and other institutional investors.

Boyd Gaming Company Profile

(Get a rating)

Boyd Gaming Corporation, along 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 in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio and Pennsylvania.

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