Boyd Gaming Co. (NYSE:BYD) Announces Quarterly Dividend of $0.45

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 given a dividend of 0.45 per share on Sunday, April 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date is Thursday, March 15th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.05.

Boyd Gaming has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities 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%.

Shares of BYD traded up $1.09 on Thursday, reaching $33.12. The company’s stock had a trading volume of 2,850,279 shares, compared to its average volume of 1,729,329. Boyd Gaming has a 12-month low of $21.30 and a 12-month high of $40.44. The company has a market cap of $3,532.75, a price-to-earnings ratio of 32.16 and a beta of 1.87. 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 (NYSE:BYD) last released its earnings results on Tuesday, February 20th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.04). Boyd Gaming had a return on equity of 11.47% and a net margin of 7.94%. The firm had revenue of $590.83 million for the quarter, compared to the consensus estimate of $595.28 million. During the same quarter in the previous year, the business posted $0.38 EPS. Boyd Gaming’s revenue was up 6.5% on a year-over-year basis. analysts predict that Boyd Gaming will post 1.23 EPS for the current fiscal year.

A number of equities research analysts have commented on BYD shares. SunTrust Banks decreased their target price on shares of Boyd Gaming to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Stifel Nicolaus reiterated a “hold” rating and set a $40.00 price objective (up previously from $35.00) on shares of Boyd Gaming in a research report on Wednesday, February 21st. Zacks Investment Research upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research report on Wednesday, January 3rd. Barclays reiterated an “equal weight” rating and set a $33.00 price objective (down previously from $35.00) on shares of Boyd Gaming in a research report on Wednesday, February 21st. Finally, JPMorgan Chase reiterated an “overweight” rating and set a $39.00 price objective (down previously from $43.00) on shares of Boyd Gaming in a research report on Wednesday, February 21st. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.81.

In other Boyd Gaming news, insider Stephen S. Thompson sold 24,906 shares of Boyd Gaming stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $33.55, for a total transaction of $835,596.30. Following the completion of the transaction, the insider now directly owns 53,354 shares of the company’s stock, valued at $1,790,026.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian A. Larson sold 99,077 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $35.71, for a total transaction of $3,538,039.67. Following the sale, the vice president now directly owns 104,216 shares of the company’s stock, valued at $3,721,553.36. The disclosure for this sale can be found here. Insiders have sold 328,294 shares of company stock valued at $11,448,808 over the last ninety days. 28.88% of the stock is owned by insiders.

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Boyd Gaming Company Profile

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.

Dividend History for Boyd Gaming (NYSE:BYD)

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