Boyd Gaming (BYD) Set to Announce Quarterly Earnings on Thursday

Boyd Gaming (NYSE:BYD) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect Boyd Gaming to post earnings of $1.56 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings results on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. The company had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. During the same quarter last year, the firm earned $1.72 earnings per share. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts expect Boyd Gaming to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Boyd Gaming Stock Performance

Shares of BYD opened at $63.24 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 2.93 and a beta of 1.60. The business’s fifty day simple moving average is $64.27 and its two-hundred day simple moving average is $62.01.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.68 annualized dividend and a yield of 1.08%. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is currently 11.15%.

Insiders Place Their Bets

In other news, Director A. Randall Thoman sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total value of $159,375.00. Following the completion of the transaction, the director now owns 4,017 shares of the company’s stock, valued at $256,083.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the sale, the insider now owns 8,795,449 shares in the company, valued at $555,168,740.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director A. Randall Thoman sold 2,500 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the transaction, the director now owns 4,017 shares of the company’s stock, valued at approximately $256,083.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 582,910 shares of company stock worth $37,299,461. Corporate insiders own 28.40% of the company’s stock.

Analyst Upgrades and Downgrades

BYD has been the subject of several research reports. Truist Financial boosted their price objective on shares of Boyd Gaming from $76.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 9th. Mizuho started coverage on Boyd Gaming in a report on Tuesday, March 26th. They set a “buy” rating and a $80.00 price target on the stock. Wells Fargo & Company lifted their price objective on Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Susquehanna reissued a “neutral” rating and issued a $75.00 target price (down previously from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. Finally, Morgan Stanley boosted their price target on Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Boyd Gaming presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.30.

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.