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In recent days, Boyd Gaming reached a record high share price, maintained its quarterly US$0.18 per‑share cash dividend paid on January 15, 2026, and received reiterated Buy ratings from firms such as Jefferies.
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Despite past concerns about revenue trends and cash profitability, the recent wave of supportive analyst coverage highlights growing confidence in Boyd Gaming’s ability to sustain its multi-jurisdictional gaming operations and earnings profile.
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With improving analyst sentiment and upgraded ratings as a backdrop, we will examine how this shifts Boyd Gaming’s existing investment narrative.
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To own Boyd Gaming, you need to believe its multi‑jurisdictional casinos and growing online exposure can keep generating solid earnings despite uneven revenue trends and capital intensity. The near term catalyst remains upcoming results and guidance around land‑based and digital performance, while key risks center on capital allocation discipline and the impact of softer profitability metrics. Recent rating reiterations and the record share price do not materially change those fundamental drivers.
Among recent developments, Truist’s decision to lift its Boyd Gaming price target to US$110 while maintaining a Buy rating is most relevant, as it reinforces the view that current projects and the online segment could remain important earnings levers. That said, this more positive analyst stance sits alongside earlier concerns about lagging long term revenue growth and weaker cash profitability, which still frame the debate around how much capital Boyd can sustainably return to shareholders.
Yet beneath the higher targets and record share price, investors should be aware that Boyd’s ability to return capital could be constrained by…
Read the full narrative on Boyd Gaming (it’s free!)
Boyd Gaming’s narrative projects $3.5 billion revenue and $563.3 million earnings by 2028. This assumes a 4.7% yearly revenue decline and a slight earnings decrease of about $1.2 million from $564.5 million today.
Uncover how Boyd Gaming’s forecasts yield a $92.33 fair value, a 3% upside to its current price.
Five members of the Simply Wall St Community value Boyd Gaming between US$64.03 and US$125.22, reflecting widely different expectations. You can weigh these views against concerns about weaker cash profitability and what that might mean for future shareholder returns.
Explore 5 other fair value estimates on Boyd Gaming – why the stock might be worth 29% less than the current price!
Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include BYD.
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