Boyd Gaming Co. (NYSE:BYD) Plans Quarterly Dividend of $0.18

Boyd Gaming Co. (NYSE:BYD) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.18 per share on Tuesday, April 15th. This represents a $0.72 dividend on an annualized basis and a yield of 0.91%. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.17.

Boyd Gaming has a payout ratio of 9.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boyd Gaming to earn $7.10 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 9.6%.

Boyd Gaming Stock Down 0.2 %

BYD stock traded down $0.20 during trading on Thursday, reaching $79.32. The stock had a trading volume of 640,406 shares, compared to its average volume of 956,976. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $80.50. The firm has a fifty day moving average price of $74.64 and a 200 day moving average price of $68.61. The company has a market capitalization of $7.01 billion, a P/E ratio of 12.75, a PEG ratio of 4.46 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a return on equity of 35.97% and a net margin of 14.70%. On average, equities analysts anticipate that Boyd Gaming will post 6.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Wells Fargo & Company boosted their price target on shares of Boyd Gaming from $82.00 to $88.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Mizuho lifted their price target on Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays lifted their price target on Boyd Gaming from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. Finally, Truist Financial lifted their price target on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming currently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the sale, the director now owns 5,977 shares in the company, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the sale, the chairman now owns 1,346,628 shares in the company, valued at $104,606,063.04. This represents a 3.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,660 shares of company stock valued at $6,098,449 in the last three months. 27.94% of the stock is currently owned by corporate insiders.

Boyd Gaming declared that its board has approved a share repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Boyd Gaming Company Profile

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.