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

Boyd Gaming Co. (NYSE:BYD - Get Free Report) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.18 per share on Tuesday, April 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, March 17th. This is a positive change 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. 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 Performance

Shares of BYD traded down $2.56 on Friday, reaching $76.86. The company's stock had a trading volume of 711,691 shares, compared to its average volume of 952,179. The stock's 50 day simple moving average is $74.77 and its two-hundred day simple moving average is $68.84. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The stock has a market capitalization of $6.79 billion, a P/E ratio of 12.36, a PEG ratio of 4.46 and a beta of 1.54. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $80.50.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Boyd Gaming will post 6.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William R. Boyd sold 15,000 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the completion of the sale, the director now directly owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the company's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the transaction, the chairman now owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. The trade was a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,660 shares of company stock valued at $5,123,749. 27.94% of the stock is currently owned by insiders.

Boyd Gaming announced 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 reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BYD shares. Susquehanna increased their price target on Boyd Gaming from $69.00 to $77.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Truist Financial lifted their target price on Boyd Gaming from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Mizuho upped their price target on Boyd Gaming from $79.00 to $86.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. JMP Securities restated a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Finally, Barclays boosted their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. 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 stock. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of "Moderate Buy" and an average price target 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.