Boyd Gaming Co. (BYD) to Issue Quarterly Dividend of $0.18 on April 15th

Boyd Gaming Co. (NYSE:BYD) announced 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 annualized dividend and a yield of 0.94%. The ex-dividend date is Monday, March 17th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17.

Boyd Gaming has a payout ratio of 9.4% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 3.2 %

Shares of BYD opened at $76.86 on Friday. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $80.50. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The firm’s fifty day moving average is $74.77 and its two-hundred day moving average is $68.84. The stock has a market cap of $6.79 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 4.47 and a beta of 1.54.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. Research analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the sale, the chairman now directly owns 1,346,628 shares of the company’s stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the sale, the director now directly owns 1,472,970 shares in the company, valued at approximately $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 65,660 shares of company stock valued at $5,123,749 over the last quarter. Insiders own 27.94% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Susquehanna boosted their price objective on shares of Boyd Gaming from $69.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and upped their target price for the stock from $73.00 to $92.00 in a research note on Friday, January 3rd. Truist Financial upped 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. StockNews.com raised Boyd Gaming from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, JMP Securities reissued a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

About Boyd Gaming

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.