Boyd Gaming Corporation Announces Quarterly Dividend of $0.18 (NYSE:BYD)

Boyd Gaming Corporation (NYSE:BYD) announced a quarterly dividend on Thursday, December 4th. Stockholders of record on Monday, December 15th will be paid a dividend of 0.18 per share on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, December 15th.

Boyd Gaming has raised its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Boyd Gaming has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Boyd Gaming to earn $7.10 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 10.1%.

Boyd Gaming Price Performance

Shares of BYD stock opened at $81.34 on Friday. The stock has a 50 day moving average price of $81.92 and a 200 day moving average price of $81.32. Boyd Gaming has a 52-week low of $58.94 and a 52-week high of $88.49. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.49 and a current ratio of 0.51. The firm has a market capitalization of $6.35 billion, a P/E ratio of 3.55, a P/E/G ratio of 2.21 and a beta of 1.24.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Tuesday, April 11th. The company reported $1.35 EPS for the quarter. Boyd Gaming had a return on equity of 34.63% and a net margin of 46.02%.The company had revenue of $707.32 million for the quarter. As a group, sell-side analysts predict that Boyd Gaming will post 6.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Boyd Gaming in a research note on Monday, September 8th. JPMorgan Chase & Co. upped their target price on shares of Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Mizuho raised their target price on shares of Boyd Gaming from $89.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Boyd Gaming in a research note on Monday. Finally, Morgan Stanley boosted their price target on Boyd Gaming from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.54.

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.