Key Points
- Insider sale: Stephen Thompson sold 19,530 shares of Boyd Gaming on Feb. 27 at an average price of $83.59 for about $1.63M, cutting his holding by 47.02% to 22,009 shares.
- Dividend increase: Boyd raised its quarterly dividend to $0.20 per share (from $0.18), payable April 15 to shareholders of record March 16, implying a $0.80 annualized payout and roughly a 1.0% yield.
- Strong quarter but mixed outlook: Boyd reported Q EPS of $2.21 (vs. $1.88 expected) and $1.06B revenue (vs. $1.02B), while analysts maintain a consensus "Hold" rating with a $92.58 target and a current P/E of 3.63.
Boyd Gaming Corporation (NYSE:BYD - Get Free Report) insider Stephen Thompson sold 19,530 shares of the business's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $83.59, for a total value of $1,632,512.70. Following the transaction, the insider directly owned 22,009 shares in the company, valued at approximately $1,839,732.31. This represents a 47.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Boyd Gaming Stock Down 0.8%
Shares of BYD opened at $82.53 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.54 and a debt-to-equity ratio of 0.78. Boyd Gaming Corporation has a 52-week low of $58.94 and a 52-week high of $89.96. The company has a market cap of $6.23 billion, a PE ratio of 3.63, a P/E/G ratio of 1.75 and a beta of 1.20. The business has a fifty day moving average of $85.23 and a 200 day moving average of $83.86.
Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.33. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The business's revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $1.96 EPS. On average, sell-side analysts expect that Boyd Gaming Corporation will post 6.52 EPS for the current year.
Boyd Gaming Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be paid a dividend of $0.20 per share. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, March 16th. Boyd Gaming's payout ratio is currently 3.16%.
Analysts Set New Price Targets
A number of research firms have weighed in on BYD. Stifel Nicolaus increased their target price on Boyd Gaming from $90.00 to $95.00 and gave the stock a "hold" rating in a research note on Friday, February 6th. Truist Financial set a $110.00 price target on shares of Boyd Gaming in a research note on Tuesday, January 13th. UBS Group set a $110.00 target price on shares of Boyd Gaming in a research note on Wednesday, December 24th. Susquehanna decreased their price target on shares of Boyd Gaming from $90.00 to $89.00 and set a "neutral" rating for the company in a research note on Wednesday, February 11th. Finally, Morgan Stanley set a $86.00 price objective on Boyd Gaming in a research note on Wednesday, February 11th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $92.58.
Check Out Our Latest Stock Report on Boyd Gaming
Hedge Funds Weigh In On Boyd Gaming
Large investors have recently bought and sold shares of the business. Alps Advisors Inc. increased its stake in shares of Boyd Gaming by 2.7% in the 3rd quarter. Alps Advisors Inc. now owns 5,384 shares of the company's stock valued at $465,000 after purchasing an additional 141 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of Boyd Gaming by 24.5% during the 4th quarter. TD Private Client Wealth LLC now owns 854 shares of the company's stock worth $73,000 after buying an additional 168 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Boyd Gaming by 4.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,434 shares of the company's stock valued at $371,000 after buying an additional 170 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Boyd Gaming by 56.8% in the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company's stock valued at $36,000 after acquiring an additional 196 shares during the period. Finally, Interchange Capital Partners LLC raised its position in Boyd Gaming by 9.0% during the fourth quarter. Interchange Capital Partners LLC now owns 2,996 shares of the company's stock worth $255,000 after acquiring an additional 247 shares during the period. Institutional investors own 76.81% of the company's stock.
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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