Boyd Gaming (BYD) Scheduled to Post Quarterly Earnings on Thursday

Boyd Gaming (NYSE:BYD) will be releasing its earnings data after the market closes on Thursday, July 25th. Analysts expect Boyd Gaming to post earnings of $1.47 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.06). Boyd Gaming had a net margin of 14.91% and a return on equity of 34.76%. The business had revenue of $960.52 million during the quarter, compared to analyst estimates of $947.26 million. On average, analysts expect Boyd Gaming to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Boyd Gaming Trading Up 0.4 %

Boyd Gaming stock opened at $59.85 on Wednesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.80 and a quick ratio of 0.77. The firm has a 50-day moving average of $54.54 and a 200-day moving average of $59.82. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 10.75 and a beta of 1.59. Boyd Gaming has a one year low of $49.34 and a one year high of $72.58.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Saturday, June 15th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.68 annualized dividend and a yield of 1.14%. Boyd Gaming’s dividend payout ratio (DPR) is presently 12.21%.

Boyd Gaming announced that its board has initiated a stock buyback program on Monday, May 13th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 9.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Christine J. Spadafor sold 1,874 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $53.38, for a total transaction of $100,034.12. Following the transaction, the director now directly owns 2,338 shares of the company’s stock, valued at $124,802.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 27.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BYD shares. Barclays decreased their price objective on shares of Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Stifel Nicolaus dropped their price objective on Boyd Gaming from $71.00 to $65.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Morgan Stanley reduced their target price on Boyd Gaming from $68.00 to $66.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft cut Boyd Gaming from a “buy” rating to a “hold” rating and dropped their price target for the company from $78.00 to $71.00 in a research note on Friday, April 26th. Finally, Royal Bank of Canada reduced their price objective on shares of Boyd Gaming from $337.00 to $308.00 and set an “outperform” rating for the company in a research report on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $90.92.

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.