Key Points
- Director William Boyd sold 30,000 shares on Feb. 18 at an average price of $84.84 for a total of $2,545,200, trimming his stake by 1.53% to 1,930,447 shares (filed with the SEC).
- Earnings beat: Boyd Gaming reported $2.21 EPS vs. $1.88 expected and $1.06B in revenue vs. $1.02B expected, with a 45.05% net margin and 33.49% return on equity, indicating strong profitability.
- Dividend raised: the company increased its quarterly dividend to $0.20 (annualized $0.80, ~0.9% yield); the ex-dividend date is Mar. 16 and the payment date is Apr. 15.
Boyd Gaming Corporation (NYSE:BYD - Get Free Report) Director William Boyd sold 30,000 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total value of $2,545,200.00. Following the sale, the director owned 1,930,447 shares in the company, valued at $163,779,123.48. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Boyd Gaming Stock Up 1.2%
BYD traded up $1.01 during trading on Friday, reaching $86.07. The stock had a trading volume of 74,151 shares, compared to its average volume of 854,558. The company has a current ratio of 0.51, a quick ratio of 0.49 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $6.72 billion, a price-to-earnings ratio of 3.79, a P/E/G ratio of 1.79 and a beta of 1.24. The stock's 50 day moving average is $85.34 and its two-hundred day moving average is $83.76. Boyd Gaming Corporation has a one year low of $58.94 and a one year high of $89.96.
Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.33. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 33.49%. The company's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.96 EPS. As a group, analysts expect that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.
Boyd Gaming Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. This is a boost from Boyd Gaming's previous quarterly dividend of $0.18. The ex-dividend date is Monday, March 16th. Boyd Gaming's dividend payout ratio is currently 3.16%.
Institutional Trading of Boyd Gaming
Institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership increased its holdings in shares of Boyd Gaming by 18.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,755,659 shares of the company's stock worth $149,652,000 after purchasing an additional 277,529 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Boyd Gaming by 118.2% during the fourth quarter. Invesco Ltd. now owns 1,427,828 shares of the company's stock valued at $121,708,000 after purchasing an additional 773,394 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Boyd Gaming by 11.1% during the fourth quarter. Franklin Resources Inc. now owns 1,357,412 shares of the company's stock valued at $115,706,000 after buying an additional 136,129 shares during the last quarter. Geode Capital Management LLC increased its holdings in Boyd Gaming by 26.7% in the 4th quarter. Geode Capital Management LLC now owns 1,355,209 shares of the company's stock worth $115,537,000 after buying an additional 285,719 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Boyd Gaming by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 1,213,024 shares of the company's stock worth $94,895,000 after buying an additional 127,167 shares during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on BYD shares. Morgan Stanley set a $86.00 price target on Boyd Gaming in a research report on Wednesday, February 11th. Weiss Ratings reiterated a "buy (b)" rating on shares of Boyd Gaming in a research note on Monday, December 29th. Truist Financial set a $110.00 target price on Boyd Gaming in a research note on Tuesday, January 13th. Susquehanna reduced their price target on Boyd Gaming from $90.00 to $89.00 and set a "neutral" rating for the company in a report on Wednesday, February 11th. Finally, Citigroup started coverage on Boyd Gaming in a research report on Thursday, November 20th. They issued a "neutral" rating and a $86.00 price target for the company. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $92.58.
Check Out Our Latest Research Report on Boyd Gaming
Boyd Gaming Company Profile
(
Get Free Report)
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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