Boyd Gaming (BYD) to Release Quarterly Earnings on Thursday

Boyd Gaming (NYSE:BYD) is projected to issue its quarterly earnings data after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $1.75 per share and revenue of $997.68 million for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Boyd Gaming Stock Performance

NYSE:BYD opened at $76.72 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79. The firm has a market cap of $6.78 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 4.28 and a beta of 1.54. The firm’s fifty day moving average price is $73.86 and its 200 day moving average price is $67.23. Boyd Gaming has a 1-year low of $49.34 and a 1-year high of $78.58.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Monday, December 16th. Boyd Gaming’s payout ratio is 12.98%.

Boyd Gaming declared that its board has initiated a stock repurchase program on Thursday, December 5th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Christine J. Spadafor sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the sale, the director now owns 5,977 shares in the company, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Keith Smith sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $71.77, for a total value of $2,153,100.00. Following the completion of the transaction, the chief executive officer now owns 1,131,202 shares of the company’s stock, valued at $81,186,367.54. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,660 shares of company stock worth $7,307,149 in the last ninety days. Insiders own 28.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BYD. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $92.00 in a report on Friday, January 3rd. StockNews.com upgraded Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a research report on Thursday, January 16th. Morgan Stanley upped their price target on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Mizuho reiterated an “outperform” rating and issued a $79.00 price objective (up previously from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.13.

About Boyd Gaming

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.