Boyd Gaming Corporation (NYSE:BYD) Raises Dividend to $0.20 Per Share

Boyd Gaming Corporation (NYSE:BYD) declared a quarterly dividend on Thursday, February 19th. Investors of record on Monday, March 16th will be given a dividend of 0.20 per share on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, March 16th. This is a 11.1% increase from Boyd Gaming’s previous quarterly dividend of $0.18.

Boyd Gaming has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 1.1%

Shares of BYD stock traded up $0.94 during trading hours on Friday, reaching $86.00. 131,081 shares of the stock were exchanged, compared to its average volume of 856,462. The business’s fifty day moving average is $85.34 and its two-hundred day moving average is $83.76. The firm has a market capitalization of $6.72 billion, a P/E ratio of 3.78, a P/E/G ratio of 1.79 and a beta of 1.24. Boyd Gaming has a 12-month low of $58.94 and a 12-month high of $89.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.51 and a quick ratio of 0.49.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 5th. The company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.88 by $0.33. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Boyd Gaming had a net margin of 45.05% and a return on equity of 33.49%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.96 EPS. As a group, research analysts expect that Boyd Gaming will post 6.52 EPS for the current fiscal year.

Analyst Ratings Changes

BYD has been the subject of a number of recent analyst reports. Truist Financial set a $110.00 price target on Boyd Gaming in a report on Tuesday, January 13th. Morgan Stanley set a $86.00 target price on Boyd Gaming in a research report on Wednesday, February 11th. Macquarie Infrastructure reaffirmed a “neutral” rating and issued a $90.00 price target on shares of Boyd Gaming in a report on Friday, October 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Boyd Gaming in a research note on Monday, December 29th. Finally, Susquehanna cut their price objective on shares of Boyd Gaming from $90.00 to $89.00 and set a “neutral” rating on the stock in a report on Wednesday, February 11th. Five equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $92.58.

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.