Boyd Gaming Co. (NYSE:BYD) Announces Quarterly Dividend of $0.17

Boyd Gaming Co. (NYSE:BYD) declared a quarterly dividend on Tuesday, August 20th, Wall Street Journal reports. Stockholders of record on Sunday, September 15th will be given a dividend of 0.17 per share on Tuesday, October 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Friday, September 13th.

Boyd Gaming has a payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Boyd Gaming to earn $6.67 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 10.2%.

Boyd Gaming Stock Performance

NYSE:BYD opened at $58.87 on Thursday. The stock has a market capitalization of $5.59 billion, a P/E ratio of 10.57, a P/E/G ratio of 8.69 and a beta of 1.57. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.70. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $68.46. The stock has a 50-day moving average price of $58.13 and a 200 day moving average price of $58.51.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $967.50 million for the quarter, compared to the consensus estimate of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. Equities research analysts forecast that Boyd Gaming will post 6.25 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total transaction of $4,404,619.90. Following the completion of the sale, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at approximately $85,737,284.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine J. Spadafor sold 1,242 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $60.36, for a total transaction of $74,967.12. Following the transaction, the director now owns 1,096 shares in the company, valued at approximately $66,154.56. The disclosure for this sale can be found here. 27.94% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BYD shares. Macquarie cut their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $66.00 to $74.00 in a report on Wednesday, September 4th. Stifel Nicolaus increased their price objective on Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a report on Friday, July 26th. Raymond James started coverage on Boyd Gaming in a research report on Tuesday, May 21st. They set an “outperform” rating and a $67.00 price target on the stock. Finally, Royal Bank of Canada cut their target price on shares of Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating for the company in a report on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Boyd Gaming has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

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.