Boyd Gaming Corporation (NYSE:BYD) Announces $0.18 Quarterly Dividend

Key Points

• Boyd Gaming Corporation declared a quarterly dividend of $0.18 per share, payable on October 15th to stockholders of record as of September 15th, representing an annualized yield of 0.9%.
• For the last quarter, Boyd Gaming reported $1.87 earnings per share (EPS), exceeding expectations, with revenues reaching $1.03 billion, marking a 6.9% increase year-over-year.
• Equities analysts maintain a consensus rating of "Hold" for Boyd Gaming, with target prices ranging from $74 to $90, suggesting a mixed outlook for the stock.

Boyd Gaming Corporation (NYSE:BYD - Get Free Report) declared a quarterly dividend on Thursday, August 14th, RTT News reports. Stockholders of record on Monday, September 15th will be given a dividend of 0.18 per share on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 0.9%.

Boyd Gaming has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Boyd Gaming to earn $7.10 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 10.1%.

Boyd Gaming Stock Performance

NYSE BYD traded down $0.61 on Thursday, hitting $83.72. 46,103 shares of the stock traded hands, compared to its average volume of 1,062,087. The business's fifty day moving average is $80.41 and its two-hundred day moving average is $74.48. Boyd Gaming has a 12 month low of $57.06 and a 12 month high of $87.76. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 2.36 and a beta of 1.24. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 0.86.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.67 by $0.20. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $976.81 million. During the same quarter last year, the business posted $1.58 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BYD. Morgan Stanley reissued a "sell" rating on shares of Boyd Gaming in a research note on Friday, July 11th. Mizuho raised their target price on Boyd Gaming from $86.00 to $89.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Stifel Nicolaus raised their target price on Boyd Gaming from $87.00 to $90.00 and gave the stock a "hold" rating in a research note on Friday, July 25th. Macquarie raised their target price on Boyd Gaming from $74.00 to $88.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. initiated coverage on Boyd Gaming in a research note on Monday, June 23rd. They issued a "neutral" rating and a $79.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $86.62.

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.

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