Boyd Gaming (BYD) Set to Announce Earnings on Thursday

Boyd Gaming (NYSE:BYD) is scheduled to release its earnings data after the market closes on Thursday, April 25th. Analysts expect Boyd Gaming to post earnings of $1.56 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. The company had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. During the same period in the previous year, the company posted $1.72 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts expect Boyd Gaming to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Boyd Gaming Stock Up 0.5 %

Shares of NYSE BYD opened at $63.58 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.65. The company has a market cap of $6.09 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.93 and a beta of 1.60. Boyd Gaming has a 52 week low of $52.42 and a 52 week high of $73.00. The business has a 50-day simple moving average of $64.25 and a two-hundred day simple moving average of $62.05.

Boyd Gaming Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Thursday, March 14th. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is 11.15%.

Insider Activity

In related news, major shareholder William S. Boyd sold 125,000 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total value of $7,971,250.00. Following the transaction, the insider now directly owns 9,358,913 shares of the company’s stock, valued at $596,817,882.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder William S. Boyd sold 125,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $63.77, for a total transaction of $7,971,250.00. Following the completion of the sale, the insider now directly owns 9,358,913 shares in the company, valued at $596,817,882.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Marianne Boyd Johnson sold 77,661 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $64.87, for a total value of $5,037,869.07. Following the completion of the sale, the chairman now directly owns 1,511,433 shares in the company, valued at $98,046,658.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 582,910 shares of company stock valued at $37,299,461. 28.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on BYD. Morgan Stanley upped their target price on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 price objective on shares of Boyd Gaming in a report on Friday, January 5th. JPMorgan Chase & Co. raised their price objective on Boyd Gaming from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Wells Fargo & Company upped their target price on Boyd Gaming from $81.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, StockNews.com upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.30.

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.