Morgan Stanley upgraded shares of Boyd Gaming (NYSE:BYD – Free Report) from an equal weight rating to an overweight rating in a report published on Wednesday morning, MarketBeat reports. They currently have $74.00 price objective on the stock, up from their previous price objective of $66.00. Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lowered their price objective on Boyd Gaming from $337.00 to $308.00 and set an outperform rating on the stock in a research report on Thursday, May 16th. Stifel Nicolaus increased their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a hold rating in a research note on Friday, July 26th. Raymond James assumed coverage on Boyd Gaming in a research note on Tuesday, May 21st. They issued an outperform rating and a $67.00 price target for the company. StockNews.com upgraded Boyd Gaming from a hold rating to a buy rating in a research report on Monday, July 22nd. Finally, Macquarie dropped their price objective on Boyd Gaming from $72.00 to $68.00 and set a neutral rating on the stock in a report on Friday, July 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $90.75.
Boyd Gaming is a leading casino operator in the United States, with a strong presence in Nevada and other states. The company operates a diverse portfolio of casinos, including resorts, hotels, and entertainment venues. Boyd Gaming has a strong track record of profitability and growth, with a history of successful acquisitions and expansions.
Boyd Gaming Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Boyd Gaming’s dividend payout ratio is currently 12.21%. Boyd Gaming declared that its board has approved a share repurchase plan on Monday, May 13th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 9.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
This sale, while significant, is not an isolated event. Boyd Gaming has a history of stock sales by its executives, including the CEO, who have sold a significant portion of their holdings. This pattern of executive stock sales has been a subject of scrutiny and debate, with some arguing that it could signal a lack of confidence in the company’s future prospects. However, it’s important to note that executive stock sales are not inherently negative.
* Institutional investors and hedge funds have recently modified their holdings of the company. * Cohen & Steers Inc.
Boyd Gaming Company Profile (Get Free Report) Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments. Recommended Stories Receive News & Ratings for Boyd Gaming Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Boyd Gaming and related companies with MarketBeat.com’s FREE daily email newsletter.
