Boyd Gaming Co. (BYD) To Go Ex-Dividend on September 13th

Boyd Gaming Co. (NYSE:BYD) declared a quarterly dividend on Tuesday, August 20th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend 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

BYD stock opened at $59.33 on Wednesday. The stock’s 50 day simple moving average is $58.03 and its 200 day simple moving average is $58.51. The stock has a market capitalization of $5.44 billion, a PE ratio of 10.65, a price-to-earnings-growth 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.

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on BYD. Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $66.00 to $74.00 in a report on Wednesday, September 4th. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada cut their price target on Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating for the company in a research note on Thursday, May 16th. Stifel Nicolaus increased their price target on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Raymond James began coverage on Boyd Gaming in a research note on Tuesday, May 21st. They issued an “outperform” rating and a $67.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.75.

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.