Boyd Gaming Corporation (NYSE:BYD) to Issue $0.20 Quarterly Dividend

Boyd Gaming Corporation (NYSE:BYD) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Monday, June 15th will be given a dividend of 0.20 per share on Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, June 15th.

Boyd Gaming has a payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Boyd Gaming to earn $7.80 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 10.3%.

Boyd Gaming Trading Down 0.0%

Boyd Gaming stock opened at $85.22 on Friday. The stock has a market cap of $6.33 billion, a P/E ratio of 3.74, a PEG ratio of 1.96 and a beta of 1.11. Boyd Gaming has a fifty-two week low of $71.14 and a fifty-two week high of $89.96. The firm’s fifty day moving average price is $84.07 and its 200-day moving average price is $83.65. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.58 and a current ratio of 0.60.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.16). Boyd Gaming had a return on equity of 25.63% and a net margin of 44.84%.The firm had revenue of $997.36 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.62 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts forecast that Boyd Gaming will post 7.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BYD shares. Truist Financial set a $110.00 target price on shares of Boyd Gaming in a research report on Tuesday, January 13th. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $89.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Wells Fargo & Company cut their target price on shares of Boyd Gaming from $84.00 to $83.00 and set an “equal weight” rating for the company in a research report on Thursday, April 16th. Susquehanna cut their target price on shares of Boyd Gaming from $89.00 to $87.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Finally, Citigroup upped their target price on shares of Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Five analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Boyd Gaming has an average rating of “Hold” and a consensus target price of $92.08.

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.