Truist Financial Lifts Boyd Gaming Price Target to $83.00
April 22, 2023
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Boyd Gaming ($NYSE:BYD) Corporation is a leading publicly traded gaming and entertainment company based in the United States. Recently, analysts at Truist Financial have raised their price target for Boyd Gaming stock to $83.00. This announcement was reported by Defense World.
The analysts have also highlighted the company’s strong balance sheet and dividend policy as reasons for their upgrade of the stock. With this new price target, it appears that Boyd Gaming has a bright future ahead.
Stock Price
On Thursday, BOYD GAMING stock opened at $67.5 and closed at $67.6, rising by 0.9% from the prior closing price of 67.0. The increase in value highlights the investment potential of BOYD GAMING, with the company’s positive performance over the past few months and its confidence in its future growth. With the newly-set price target, BOYD GAMING looks set to continue its upward trend and potential investors will likely be encouraged to join in on the stock. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Boyd Gaming. More…
| Total Revenues | Net Income | Net Margin |
| 3.56k | 639.38 | 19.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Boyd Gaming. More…
| Operations | Investing | Financing |
| 976.11 | -422.31 | -615.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Boyd Gaming. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.31k | 4.72k | 15.47 |
Key Ratios Snapshot
Some of the financial key ratios for Boyd Gaming are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.2% | 29.3% | 27.6% |
| FCF Margin | ROE | ROA |
| 19.9% | 39.1% | 9.7% |
Analysis
At GoodWhale, we recently conducted an in-depth analysis of Boyd Gaming, a major casino and entertainment company. Our Risk Rating places Boyd Gaming as a low risk investment, based on our assessment of the company’s financial and business aspects. Through our analysis, we were able to detect one risk warning in the company’s income sheet. If you’re interested in learning more about this potential risk, become a registered user with GoodWhale and you’ll be able to access this warning. We highly recommend assessing all potential risks before investing in Boyd Gaming or any other company. More…
Peers
Boyd Gaming Corporation is an American gaming and hospitality company based in Paradise, Nevada. The company continues to be run by the Boyd family under the stewardship of CEO Sam Boyd. Boyd Gaming operates 29 gaming properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.
– Penn National Gaming Inc ($NASDAQ:PENN)
As of 2022, Penn National Gaming Inc has a market cap of 5.21B and a ROE of 16.23%. The company is a leading operator of casinos and racetracks in the United States. Penn National Gaming’s properties include Hollywood Casino at Charles Town Races and Hollywood Casino Bangor. The company also owns and operates the Argosy Casino in Alton, Illinois.
– Caesars Entertainment Inc ($NASDAQ:CZR)
Caesars Entertainment Inc is a gaming company. It has a market cap of 9.46B as of 2022 and a Return on Equity of 21.84%. The company owns and operates casinos and resorts. It also provides gaming, hotel, dining, entertainment, and other services.
– Ballys Corp ($NYSE:BALY)
Bally’s Corporation is a gaming and hospitality company that owns and operates casinos, hotels, and spas across the United States. The company has a market cap of 1B as of 2022 and a return on equity of 3.13%. Bally’s Corporation is a publicly traded company listed on the New York Stock Exchange. The company was founded in 1969 and is headquartered in Reno, Nevada.
Summary
Analysts at Truist Financial raised their price target for BOYD Gaming to $83.00, citing the company’s strong performance in the gaming, hospitality, and entertainment sectors. They noted that their confidence in the company was bolstered by their success rate in increasing revenue across their existing properties as well as new locations. In addition, they praised the company’s ability to navigate uncertainties due to the pandemic, pointing to their strong cash flow and balance sheet. Overall, analysts view BOYD Gaming as a solid long-term investment, with potential for growth in the coming years.
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