Boyd Gaming (NYSE:BYD) Posts Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Boyd Gaming (NYSE:BYD) released its quarterly earnings results on Thursday. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.21, Zacks reports. Boyd Gaming had a net margin of 13.01% and a return on equity of 35.10%.

Boyd Gaming Trading Down 2.5 %

NYSE:BYD traded down $1.94 during midday trading on Friday, reaching $76.63. 647,482 shares of the stock traded hands, compared to its average volume of 913,500. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.79 and a current ratio of 0.82. The stock has a market capitalization of $6.77 billion, a P/E ratio of 14.60, a PEG ratio of 4.28 and a beta of 1.54. Boyd Gaming has a 12 month low of $49.34 and a 12 month high of $80.50. The company has a fifty day moving average of $74.03 and a 200 day moving average of $67.37.

Boyd Gaming Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.17 per share. The ex-dividend date was Monday, December 16th. This represents a $0.68 annualized dividend and a yield of 0.89%. Boyd Gaming’s payout ratio is 12.98%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Boyd Gaming in a report on Friday. Argus raised shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Tuesday, December 17th. Morgan Stanley raised their price objective on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Boyd Gaming from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 28th. Finally, Truist Financial lifted their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.73.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, Director Christine J. Spadafor sold 660 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total value of $49,948.80. Following the sale, the director now directly owns 5,977 shares of the company’s stock, valued at approximately $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total value of $2,939,600.00. Following the transaction, the chief executive officer now owns 1,161,202 shares of the company’s stock, valued at $85,336,734.98. The trade was a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,660 shares of company stock worth $7,307,149. 28.40% of the stock is currently owned by insiders.

Boyd Gaming declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 5th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Boyd Gaming Company Profile

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.