Boyd Gaming Co. to Issue Quarterly Dividend of $0.17 (NYSE:BYD)

Boyd Gaming Co. (NYSE:BYD) declared a quarterly dividend on Thursday, December 5th,RTT News reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.17 per share on Wednesday, January 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.91%.

Boyd Gaming has a payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Boyd Gaming to earn $6.61 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 10.3%.

Boyd Gaming Stock Up 0.1 %

Shares of BYD traded up $0.11 during trading hours on Thursday, reaching $74.83. 567,148 shares of the stock traded hands, compared to its average volume of 911,831. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. The stock has a fifty day simple moving average of $68.83 and a 200 day simple moving average of $61.12. Boyd Gaming has a 52 week low of $49.34 and a 52 week high of $75.34. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 9.71 and a beta of 1.54.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BYD shares. Truist Financial raised their price target on shares of Boyd Gaming from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus raised their price target on shares of Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their price target on shares of Boyd Gaming from $75.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. 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, Barclays raised their price objective on shares of Boyd Gaming from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming presently has a consensus rating of “Moderate Buy” and an average price target of $91.38.

Insider Transactions at Boyd Gaming

In other news, CFO Josh Hirsberg sold 21,549 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $71.43, for a total value of $1,539,245.07. Following the completion of the transaction, the chief financial officer now directly owns 438,615 shares in the company, valued at approximately $31,330,269.45. This trade represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $73.49, for a total transaction of $2,939,600.00. Following the completion of the transaction, the chief executive officer now owns 1,161,202 shares of the company’s stock, valued at $85,336,734.98. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,704 shares of company stock worth $10,540,944 over the last quarter. Corporate insiders own 27.94% of the company’s stock.

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.