Boyd Gaming (NYSE:BYD) Authorizes Share Repurchase Plan

Key Points

• Boyd Gaming's board authorized a $500 million share buyback, permitting repurchase of up to 7.7% of outstanding shares via open‑market purchases.
• The company missed Q1 expectations, reporting EPS of $1.60 vs. a ~$1.97 consensus and revenue of roughly $997M vs. ~$1.04B, which triggered post‑earnings volatility.
• Boyd raised its quarterly dividend to $0.20 (annualized $0.80, ~0.9% yield), up from the prior $0.18 quarterly payout.

Boyd Gaming (NYSE:BYD - Get Free Report) declared that its board has authorized a stock buyback plan on Thursday, April 23rd, RTT News reports. The company plans to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Boyd Gaming Stock Performance

NYSE BYD traded up $2.95 during trading on Thursday, hitting $89.10. 1,433,209 shares of the company's stock traded hands, compared to its average volume of 685,394. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 1.80 and a beta of 1.19. Boyd Gaming has a 12-month low of $65.29 and a 12-month high of $89.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.52 and a current ratio of 0.54. The business has a 50 day moving average of $83.79 and a 200-day moving average of $83.49.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.97 by ($0.37). The business had revenue of $997.36 million for the quarter, compared to analysts' expectations of $1.04 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. Boyd Gaming's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. As a group, equities research analysts anticipate that Boyd Gaming will post 7.56 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 16th. Boyd Gaming's payout ratio is currently 3.52%.

Analyst Upgrades and Downgrades

BYD has been the subject of several research reports. Truist Financial set a $110.00 price target on shares of Boyd Gaming in a research report on Tuesday, January 13th. Morgan Stanley restated a "mixed" rating on shares of Boyd Gaming in a research report on Wednesday, April 8th. Weiss Ratings restated a "buy (b)" rating on shares of Boyd Gaming in a research report on Monday, December 29th. Jefferies Financial Group restated a "buy" rating on shares of Boyd Gaming in a research report on Wednesday, December 24th. Finally, Mizuho set a $100.00 price target on shares of Boyd Gaming in a research report on Monday, February 2nd. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $92.75.

Insider Buying and Selling at Boyd Gaming

In other Boyd Gaming news, insider Stephen S. Thompson sold 19,530 shares of the company's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $83.59, for a total transaction of $1,632,512.70. Following the sale, the insider directly owned 22,009 shares of the company's stock, valued at $1,839,732.31. This represents a 47.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Josh Hirsberg sold 23,924 shares of the company's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $85.86, for a total transaction of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares in the company, valued at approximately $37,413,151.56. This trade represents a 5.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,454 shares of company stock valued at $6,231,827 over the last three months. 22.82% of the stock is currently owned by insiders.

Key Boyd Gaming News

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Strong profitability and cash metrics: Boyd reported healthy margins and returns (reported net margin ~45% and ROE ~30%), operating cash flow improved year-over-year and cash balances grew — indicators of solid core cash generation that can support dividends, debt reduction or reinvestment. BOYD GAMING REPORTS FIRST-QUARTER 2026 RESULTS
• Positive Sentiment: Reiterated online EBITDA(R) guidance: Management reiterated 2026 online EBITDAR guidance of $30M–$35M, which provides clarity on a high-growth segment and soaks up some investor uncertainty around the digital business outlook. Boyd outlines 2026 capex and online EBITDAR guidance
• Neutral Sentiment: Large 2026 capex plan ($650M–$700M): Management unveiled a substantial investment program for 2026 — supports growth and property refreshes but will increase near-term cash needs and could weigh on free cash flow depending on timing. Capex plan article
• Neutral Sentiment: Mixed analyst views and price targets: Recent analyst targets vary materially (median around $90), reflecting diverging views on long‑term growth vs. near-term execution — provides both upside scenarios and downside risk depending on execution. Analyst targets and Quiver summary
• Negative Sentiment: Earnings and revenue missed expectations: Boyd reported Q1 EPS and revenue below consensus (reported EPS of $1.60 vs. consensus ~ $1.97; revenue ~ $997M vs. ~$1.04B), which triggered an initial negative market reaction after the print. MarketBeat earnings release
• Negative Sentiment: Insider and institutional selling pressure: Recent filings show meaningful insider sales and several large institutional reductions in Q4 2025, which may concern investors about near-term demand from big holders. Quiver insider & institutional activity
• Negative Sentiment: Market reaction to misses caused volatility: Several outlets report the stock fell after the earnings print due to the misses on revenue and EPS; elevated trading volume suggests investors are re‑pricing near-term expectations. Yahoo Markets earnings recap

About Boyd Gaming

Boyd Gaming Corporation NYSE: BYD is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming's offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.

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