Boyd Gaming (NYSE:BYD) Releases Quarterly Earnings Results, Meets Estimates

Boyd Gaming (NYSE:BYD) issued its quarterly earnings results on Thursday. The company reported $1.67 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.67, FiscalAI reports. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%. The company had revenue of $990.46 million for the quarter, compared to analysts’ expectations of $1 billion.

Boyd Gaming Stock Up 2.2%

Boyd Gaming stock traded up $1.54 during mid-day trading on Thursday, hitting $72.15. 1,681,887 shares of the company’s stock were exchanged, compared to its average volume of 983,403. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05. The stock has a market cap of $5.24 billion, a P/E ratio of 3.18, a P/E/G ratio of 1.27 and a beta of 1.12. Boyd Gaming has a 1-year low of $65.00 and a 1-year high of $91.41. The stock has a 50 day moving average of $74.67 and a two-hundred day moving average of $81.75.

Boyd Gaming Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Boyd Gaming’s dividend payout ratio is presently 3.52%.

Insider Buying and Selling at Boyd Gaming

In related news, CFO Josh Hirsberg sold 12,777 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the sale, the chief financial officer directly owned 422,969 shares in the company, valued at approximately $37,965,697.44. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 22.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BYD shares. Wolfe Research assumed coverage on Boyd Gaming in a report on Wednesday, September 2nd. They set a “peer perform” rating on the stock. Weiss Ratings raised Boyd Gaming from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 14th. Morgan Stanley upgraded shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $89.00 to $83.00 in a research report on Monday. Truist Financial dropped their target price on Boyd Gaming from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group set a $80.00 price target on shares of Boyd Gaming in a research note on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.93.

About Boyd Gaming

Boyd Gaming Corporation is a gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates casinos, hotels, restaurants, entertainment venues and related amenities under brands including Sam’s Town, The Orleans, Gold Coast, Suncoast and Fremont.

Boyd Gaming serves customers across several U.S. states, with a significant presence in Nevada as well as properties in the Midwest and South. Its portfolio includes destination resorts, regional casinos and racetracks offering slot machines, table games, poker, sports betting and other gaming experiences.

The company also operates online gaming and sports-wagering businesses in selected markets, including through partnerships and digital platforms.