Share Repurchase Program Declared by Boyd Gaming (NYSE:BYD) Board

Boyd Gaming (NYSE:BYD) announced that its Board of Directors has initiated a share repurchase program on Thursday, April 23rd, RTT News reports. The company plans to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Boyd Gaming Price Performance

Shares of Boyd Gaming stock traded up $2.95 on Thursday, reaching $89.10. The stock had a trading volume of 1,433,209 shares, compared to its average volume of 685,394. Boyd Gaming has a 1 year low of $65.29 and a 1 year high of $89.96. The company has a market cap of $6.71 billion, a P/E ratio of 3.92, a price-to-earnings-growth ratio of 1.80 and a beta of 1.19. The company has a current ratio of 0.54, a quick ratio of 0.52 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $83.79 and its two-hundred day moving average is $83.49.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($0.37). The company had revenue of $997.36 million during the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 30.14%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 earnings per share. As a group, research analysts anticipate that Boyd Gaming will post 7.56 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 16th were paid a $0.20 dividend. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, March 16th. Boyd Gaming’s payout ratio is 3.52%.

Analyst Upgrades and Downgrades

BYD has been the topic of a number of recent analyst reports. Mizuho set a $100.00 price target on shares of Boyd Gaming in a report on Monday, February 2nd. Susquehanna lowered their price target on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Boyd Gaming in a report on Monday, December 29th. Stifel Nicolaus increased their price target on shares of Boyd Gaming from $90.00 to $95.00 and gave the stock a “hold” rating in a report on Friday, February 6th. Finally, UBS Group set a $110.00 price target on shares of Boyd Gaming in a report on Wednesday, December 24th. Five research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.75.

Insider Activity at Boyd Gaming

In related news, CFO Josh Hirsberg sold 23,924 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $85.86, for a total value of $2,054,114.64. Following the sale, the chief financial officer directly owned 435,746 shares of the company’s stock, valued at $37,413,151.56. This trade represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William R. Boyd sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $84.84, for a total transaction of $2,545,200.00. Following the completion of the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold 73,454 shares of company stock valued at $6,231,827 over the last three months. 22.82% of the stock is owned by corporate insiders.

Key Headlines Impacting Boyd Gaming

Here are the key news stories impacting Boyd Gaming this week:

• Positive Sentiment: Strong profitability and cash metrics: Boyd reported healthy margins and returns (reported net margin ~45% and ROE ~30%), operating cash flow improved year-over-year and cash balances grew — indicators of solid core cash generation that can support dividends, debt reduction or reinvestment. BOYD GAMING REPORTS FIRST-QUARTER 2026 RESULTS
• Positive Sentiment: Reiterated online EBITDA(R) guidance: Management reiterated 2026 online EBITDAR guidance of $30M–$35M, which provides clarity on a high-growth segment and soaks up some investor uncertainty around the digital business outlook. Boyd outlines 2026 capex and online EBITDAR guidance
• Neutral Sentiment: Large 2026 capex plan ($650M–$700M): Management unveiled a substantial investment program for 2026 — supports growth and property refreshes but will increase near-term cash needs and could weigh on free cash flow depending on timing. Capex plan article
• Neutral Sentiment: Mixed analyst views and price targets: Recent analyst targets vary materially (median around $90), reflecting diverging views on long?term growth vs. near-term execution — provides both upside scenarios and downside risk depending on execution. Analyst targets and Quiver summary
• Negative Sentiment: Earnings and revenue missed expectations: Boyd reported Q1 EPS and revenue below consensus (reported EPS of $1.60 vs. consensus ~ $1.97; revenue ~ $997M vs. ~$1.04B), which triggered an initial negative market reaction after the print. MarketBeat earnings release
• Negative Sentiment: Insider and institutional selling pressure: Recent filings show meaningful insider sales and several large institutional reductions in Q4 2025, which may concern investors about near-term demand from big holders. Quiver insider & institutional activity
• Negative Sentiment: Market reaction to misses caused volatility: Several outlets report the stock fell after the earnings print due to the misses on revenue and EPS; elevated trading volume suggests investors are re?pricing near-term expectations. Yahoo Markets earnings recap

Boyd Gaming Company Profile

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.