Boyd Gaming (NYSE:BYD) Releases Earnings Results, Beats Estimates By $0.09 EPS

Boyd Gaming (NYSE:BYD) released its earnings results on Thursday. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.09, Briefing.com reports. Boyd Gaming had a return on equity of 34.08% and a net margin of 13.32%. The business had revenue of $967.50 million for the quarter, compared to the consensus estimate of $909.49 million. During the same quarter in the previous year, the business earned $1.58 earnings per share. Boyd Gaming’s quarterly revenue was up 5.5% on a year-over-year basis.

Boyd Gaming Price Performance

Shares of NYSE BYD opened at $61.05 on Friday. The stock has a market capitalization of $5.79 billion, a PE ratio of 10.96 and a beta of 1.58. Boyd Gaming has a fifty-two week low of $49.34 and a fifty-two week high of $72.01. 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 business has a fifty day moving average price of $54.78 and a two-hundred day moving average price of $59.78.

Boyd Gaming Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Saturday, June 15th were issued 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 dividend yield of 1.11%. Boyd Gaming’s dividend payout ratio is presently 12.21%.

Boyd Gaming declared that its board has approved a share buyback program on Monday, May 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 9.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays cut their price objective on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. Stifel Nicolaus upped their target price on shares of Boyd Gaming from $65.00 to $67.00 and gave the company a “hold” rating in a report on Friday. Mizuho reduced their price target on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating for the company in a report on Friday, April 26th. Truist Financial dropped their price objective on Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company reduced their target price on Boyd Gaming from $82.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.31.

Insider Activity at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 1,874 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $53.38, for a total value of $100,034.12. Following the transaction, the director now directly owns 2,338 shares of the company’s stock, valued at approximately $124,802.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 27.94% of the stock is owned by insiders.

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.