Boyd Gaming Corporation (BYD) to Issue Quarterly Dividend of $0.20 on October 15th

Boyd Gaming Corporation (NYSE:BYD) declared a quarterly dividend on Thursday, August 13th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.20 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 15th.

Boyd Gaming has a payout ratio of 11.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Boyd Gaming to earn $7.76 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 Stock Performance

BYD opened at $77.14 on Friday. The firm has a market capitalization of $5.60 billion, a PE ratio of 3.40, a PEG ratio of 1.37 and a beta of 1.06. Boyd Gaming has a twelve month low of $74.79 and a twelve month high of $91.41. The firm’s 50-day moving average price is $83.47 and its 200 day moving average price is $84.02. The company has a current ratio of 0.77, a quick ratio of 0.74 and a debt-to-equity ratio of 1.05.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.52%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $1.87 EPS. Boyd Gaming’s quarterly revenue was up .0% on a year-over-year basis. As a group, sell-side analysts expect that Boyd Gaming will post 7.29 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on BYD shares. Benchmark assumed coverage on Boyd Gaming in a report on Monday, June 22nd. They issued a “buy” rating and a $100.00 price target for the company. Morgan Stanley lowered their price objective on Boyd Gaming from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Monday, July 27th. Wolfe Research assumed coverage on Boyd Gaming in a report on Wednesday, September 2nd. They set a “peer perform” rating on the stock. Stifel Nicolaus upped their price objective on Boyd Gaming from $91.00 to $92.00 and gave the company a “hold” rating in a report on Friday, July 24th. Finally, Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.69.

Boyd Gaming Company Profile

Boyd Gaming Corporation is a gaming and hospitality company that owns and operates casinos, hotels, restaurants, entertainment venues and related amenities. Its properties offer casino games such as slots, table games and poker, along with lodging, dining, convention and entertainment services.

Founded in 1975 by gaming executive Sam Boyd, the company is headquartered in Las Vegas, Nevada. Boyd Gaming operates regional gaming properties across several U.S. states, including Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio and Pennsylvania.