Boyd Gaming (BYD) to Release Earnings on Thursday

Boyd Gaming (NYSE:BYD) is set to issue its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.56 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.23. The company had revenue of $954.41 million for the quarter, compared to analysts’ expectations of $928.04 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%. Boyd Gaming’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. On average, analysts expect Boyd Gaming to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Boyd Gaming Stock Performance

Shares of BYD opened at $63.68 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $6.10 billion, a P/E ratio of 10.44, a price-to-earnings-growth ratio of 3.03 and a beta of 1.60. The firm’s fifty day simple moving average is $64.47 and its two-hundred day simple moving average is $61.91. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.07%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is currently 11.15%.

Wall Street Analyst Weigh In

BYD has been the topic of several recent analyst reports. Susquehanna reissued a “neutral” rating and set a $75.00 target price (down previously from $84.00) on shares of Boyd Gaming in a research report on Monday, February 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $69.00 price objective on shares of Boyd Gaming in a research note on Friday, January 5th. Morgan Stanley boosted their price target on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Mizuho assumed coverage on shares of Boyd Gaming in a report on Tuesday, March 26th. They set a “buy” rating and a $80.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Boyd Gaming from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a hold rating and seven have issued a 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 $76.30.

Insider Transactions at Boyd Gaming

In related news, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the completion of the sale, the insider now owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the transaction, the insider now owns 8,795,449 shares of the company’s stock, valued at approximately $555,168,740.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the sale, the director now directly owns 4,017 shares in the company, valued at approximately $256,083.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 582,910 shares of company stock worth $37,299,461. 28.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Boyd Gaming

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Boyd Gaming by 4.1% in the first quarter. Vanguard Group Inc. now owns 9,030,684 shares of the company’s stock valued at $594,039,000 after purchasing an additional 359,698 shares during the period. BlackRock Inc. increased its stake in Boyd Gaming by 2.6% in the first quarter. BlackRock Inc. now owns 7,760,064 shares of the company’s stock valued at $497,575,000 after purchasing an additional 198,916 shares during the last quarter. Ariel Investments LLC increased its stake in Boyd Gaming by 63.4% in the first quarter. Ariel Investments LLC now owns 2,629,438 shares of the company’s stock valued at $172,965,000 after purchasing an additional 1,020,515 shares during the last quarter. Invesco Ltd. increased its stake in Boyd Gaming by 45.2% in the first quarter. Invesco Ltd. now owns 2,382,418 shares of the company’s stock valued at $156,715,000 after purchasing an additional 741,156 shares during the last quarter. Finally, State Street Corp grew its position in shares of Boyd Gaming by 0.5% during the second quarter. State Street Corp now owns 2,200,680 shares of the company’s stock worth $109,811,000 after acquiring an additional 10,796 shares during the last quarter. 76.81% of the stock is currently owned by institutional investors and hedge funds.

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.