Boyd Gaming Corporation (NYSE:BYD) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Shareholders of record on Thursday, December 28th will be given a dividend of 0.05 per share on Monday, January 15th. This represents a $0.20 annualized dividend and a yield of 0.63%.
Boyd Gaming has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Boyd Gaming to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 15.5%.
Shares of Boyd Gaming (NYSE:BYD) traded down $0.42 during trading on Thursday, hitting $31.65. 891,900 shares of the stock traded hands, compared to its average volume of 1,277,525. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.68 and a current ratio of 0.73. Boyd Gaming has a 1-year low of $19.19 and a 1-year high of $33.02. The firm has a market cap of $3,607.01, a price-to-earnings ratio of 27.18 and a beta of 1.81.
Boyd Gaming (NYSE:BYD) last issued its earnings results on Thursday, October 26th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Boyd Gaming had a net margin of 5.08% and a return on equity of 13.82%. The business had revenue of $587.70 million for the quarter, compared to analyst estimates of $592.29 million. During the same quarter last year, the firm posted $0.14 earnings per share. Boyd Gaming’s revenue was up 10.5% on a year-over-year basis. sell-side analysts predict that Boyd Gaming will post 1.05 earnings per share for the current year.
Several equities analysts recently issued reports on the stock. BidaskClub raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, August 9th. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $28.00 to $30.00 and gave the company a “hold” rating in a report on Friday, October 27th. Zacks Investment Research downgraded shares of Boyd Gaming from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Deutsche Bank lifted their price target on shares of Boyd Gaming to $37.00 and gave the company a “buy” rating in a report on Wednesday. Finally, ValuEngine raised shares of Boyd Gaming from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Boyd Gaming currently has a consensus rating of “Buy” and an average price target of $28.00.
In related news, VP William R. Boyd sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.71, for a total transaction of $186,970.00. Following the completion of the transaction, the vice president now owns 1,251 shares in the company, valued at $33,414.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert L. Boughner sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.70, for a total transaction of $1,068,000.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at approximately $1,068,000. The disclosure for this sale can be found here. Insiders own 29.16% of the company’s stock.
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About Boyd Gaming
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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