Boyd Gaming Co. (NYSE:BYD) declared a quarterly dividend on Friday, March 2nd, RTT News reports. Investors of record on Friday, March 16th will be paid a dividend of 0.45 per share on Sunday, April 15th. This represents a $1.80 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Thursday, March 15th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.05.
Boyd Gaming has a payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Boyd Gaming to earn $1.56 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 12.8%.
Boyd Gaming (NYSE BYD) opened at $33.36 on Wednesday. The stock has a market capitalization of $3,870.27, a price-to-earnings ratio of 33.72 and a beta of 1.92. The company has a current ratio of 0.87, a quick ratio of 0.82 and a debt-to-equity ratio of 2.77. Boyd Gaming has a 12-month low of $19.66 and a 12-month high of $40.44.
In other news, VP William R. Boyd sold 7,528 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $35.23, for a total value of $265,211.44. Following the completion of the sale, the vice president now directly owns 3,714 shares in the company, valued at approximately $130,844.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brian A. Larson sold 99,077 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $35.71, for a total value of $3,538,039.67. Following the completion of the sale, the vice president now owns 104,216 shares of the company’s stock, valued at $3,721,553.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,605 shares of company stock valued at $6,314,851. 29.16% of the stock is currently owned by company insiders.
Several research analysts have recently weighed in on BYD shares. ValuEngine lowered Boyd Gaming from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Deutsche Bank lifted their price objective on Boyd Gaming to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Nomura lifted their price objective on Boyd Gaming to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Stifel Nicolaus reissued a “hold” rating on shares of Boyd Gaming in a research report on Thursday, December 21st. Finally, Zacks Investment Research raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $35.81.
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About Boyd Gaming
Boyd Gaming Corporation is a multi-jurisdictional gaming company. The Company operated 24 wholly owned gaming entertainment properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi, as of December 31, 2016. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest and South.
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