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

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

Boyd Gaming has a dividend payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Boyd Gaming to earn $7.77 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 Up 0.2%

Shares of BYD opened at $83.17 on Friday. The company has a market capitalization of $6.04 billion, a PE ratio of 3.66, a PEG ratio of 2.03 and a beta of 1.08. The stock’s 50-day moving average price is $86.74 and its two-hundred day moving average price is $84.67. 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 has a 12 month low of $76.33 and a 12 month high of $91.41.

Boyd Gaming (NYSE:BYD) last announced its earnings results on Thursday, July 23rd. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Boyd Gaming had a return on equity of 22.52% and a net margin of 44.34%.The firm’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 earnings per share. On average, analysts anticipate that Boyd Gaming will post 7.29 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on BYD shares. Mizuho set a $104.00 price objective on shares of Boyd Gaming in a research note on Friday, July 24th. Barclays increased their target price on shares of Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Texas Capital upgraded Boyd Gaming to a “strong-buy” rating in a research note on Wednesday, June 3rd. Weiss Ratings cut Boyd Gaming from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Citigroup lifted their target price on shares of Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $94.69.

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.