Key Points
- Boyd Gaming CFO Josh Hirsberg sold 12,777 shares at an average price of $89.76, worth approximately $1.15 million. He continues to own 422,969 shares, valued at about $38.0 million.
- Boyd Gaming reported quarterly EPS of $1.93, beating estimates of $1.89, while revenue came in at $1.03 billion versus expectations of $1.04 billion. The stock opened at $91.10 and recently traded near its 12-month high of $91.41.
- The company maintains a $0.20 quarterly dividend and has authorized a $500 million share-repurchase program covering up to 7.7% of outstanding shares. Analysts’ consensus rating is “Hold,” with an average price target of $94.69.
Boyd Gaming Corporation (NYSE:BYD - Get Free Report) CFO Josh Hirsberg sold 12,777 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $89.76, for a total value of $1,146,863.52. Following the completion of the transaction, the chief financial officer 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 legal filing with the SEC, which is accessible through the SEC website.
Boyd Gaming Stock Up 2.0%
BYD stock opened at $91.10 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. The company's 50 day moving average is $86.29 and its two-hundred day moving average is $84.89. The stock has a market cap of $6.77 billion, a P/E ratio of 4.01, a PEG ratio of 2.19 and a beta of 1.07. Boyd Gaming Corporation has a twelve month low of $76.33 and a twelve month high of $91.41.
Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.04. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. Boyd Gaming had a return on equity of 22.29% and a net margin of 44.34%.The business's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $1.87 earnings per share. Research analysts expect that Boyd Gaming Corporation will post 7.28 earnings per share for the current fiscal year.
Boyd Gaming Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were given a dividend of $0.20 per share. The ex-dividend date was Monday, June 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. Boyd Gaming's dividend payout ratio (DPR) is 3.52%.
Boyd Gaming declared that its Board of Directors has approved a share repurchase plan on Thursday, April 23rd that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analysts Forecast Growth
BYD has been the topic of several recent research reports. Benchmark assumed coverage on shares of Boyd Gaming in a research note on Monday, June 22nd. They issued a "buy" rating and a $100.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Boyd Gaming from $81.00 to $88.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $90.00 to $93.00 and gave the company a "neutral" rating in a research report on Wednesday, July 15th. Morgan Stanley dropped their target price on Boyd Gaming from $90.00 to $89.00 and set an "equal weight" rating for the company in a research note on Monday. Finally, Weiss Ratings upgraded Boyd Gaming from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $94.69.
View Our Latest Stock Report on Boyd Gaming
Institutional Investors Weigh In On Boyd Gaming
A number of institutional investors have recently bought and sold shares of BYD. Invesco Ltd. increased its position in Boyd Gaming by 118.2% during the fourth quarter. Invesco Ltd. now owns 1,427,828 shares of the company's stock worth $121,708,000 after purchasing an additional 773,394 shares during the last quarter. Norges Bank acquired a new position in shares of Boyd Gaming in the 4th quarter valued at $58,763,000. UBS Group AG grew its stake in shares of Boyd Gaming by 196.9% during the 4th quarter. UBS Group AG now owns 611,207 shares of the company's stock valued at $52,099,000 after buying an additional 405,340 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new stake in shares of Boyd Gaming during the 4th quarter valued at $24,675,000. Finally, Geode Capital Management LLC increased its holdings in shares of Boyd Gaming by 26.7% during 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 during the last quarter. 76.81% of the stock is currently owned by hedge funds and other institutional investors.
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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