Fintel reports that on July 14, 2023, Morgan Stanley upgraded their outlook for Boyd Gaming (NYSE:BYD) from Underweight to Equal-Weight .
Analyst Price Forecast Suggests 12.59% Upside
As of July 6, 2023, the average one-year price target for Boyd Gaming is 80.42. The forecasts range from a low of 69.69 to a high of $89.25. The average price target represents an increase of 12.59% from its latest reported closing price of 71.43.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Boyd Gaming is 3,490MM, a decrease of 4.61%. The projected annual non-GAAP EPS is 5.48.
Boyd Gaming Declares $0.16 Dividend
On May 5, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of June 15, 2023 received the payment on July 15, 2023. Previously, the company paid $0.16 per share.
At the current share price of $71.43 / share, the stock's dividend yield is 0.90%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.99%, the lowest has been 0.63%, and the highest has been 2.58%. The standard deviation of yields is 0.22 (n=146).
The current dividend yield is 0.42 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 835 funds or institutions reporting positions in Boyd Gaming. This is an increase of 31 owner(s) or 3.86% in the last quarter. Average portfolio weight of all funds dedicated to BYD is 0.31%, an increase of 5.24%. Total shares owned by institutions increased in the last three months by 0.06% to 87,694K shares. 
The put/call ratio of BYD is 2.62, indicating a bearish outlook.
What are Other Shareholders Doing?
Cohen & Steers holds 3,964K shares representing 3.92% ownership of the company. In it's prior filing, the firm reported owning 4,124K shares, representing a decrease of 4.04%. The firm increased its portfolio allocation in BYD by 10.61% over the last quarter.
Ariel Investments holds 3,455K shares representing 3.42% ownership of the company. In it's prior filing, the firm reported owning 3,457K shares, representing a decrease of 0.05%. The firm increased its portfolio allocation in BYD by 9.00% over the last quarter.
HG Vora Capital Management holds 3,000K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 4,000K shares, representing a decrease of 33.33%. The firm decreased its portfolio allocation in BYD by 36.33% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 2,447K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 2,450K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in BYD by 12.43% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,255K shares representing 2.23% ownership of the company. In it's prior filing, the firm reported owning 2,055K shares, representing an increase of 8.87%. The firm increased its portfolio allocation in BYD by 19.14% over the last quarter.
Boyd Gaming Background Information
(This description is provided by the company.)
Founded in 1975, Boyd Gaming Corporation is a leading geographically diversified operator of 29 gaming entertainment properties in 10 states. The Company is also a strategic partner and 5% equity owner of FanDuel Group, the nation's leading sports-betting and iGaming operator. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an outstanding entertainment experience, delivered with unwavering attention to customer service.
Additional reading:
- BOYD GAMING REPORTS FIRST-QUARTER 2023 RESULTS
- BOYD GAMING CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
- OPERATING AGREEMENT
- OPERATING AGREEMENT
- Subsidiaries of the Registrant.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
