Boyd Gaming (BYD) Projected to Post Earnings on Thursday

Boyd Gaming (NYSE:BYD) is expected to be announcing its earnings results after the market closes on Thursday, February 6th. Analysts expect the company to announce earnings of $1.75 per share and revenue of $997.68 million for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Boyd Gaming Stock Performance

NYSE BYD opened at $76.61 on Thursday. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 4.21 and a beta of 1.54. The company has a 50-day simple moving average of $73.50 and a two-hundred day simple moving average of $66.65. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. Boyd Gaming has a 12-month low of $49.34 and a 12-month high of $77.51.

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 of this dividend 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%.

Boyd Gaming announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 7.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Boyd Gaming

In other Boyd Gaming news, CEO Keith Smith sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,161,202 shares in the company, valued at approximately $85,336,734.98. This trade represents a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christine J. Spadafor sold 660 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares in the company, valued at approximately $452,339.36. This represents a 9.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,209 shares of company stock valued at $8,846,394 in the last three months. 27.94% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BYD has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $75.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial boosted their price objective on shares of Boyd Gaming from $77.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a research note on Thursday, January 16th. Mizuho reissued an “outperform” rating and issued a $79.00 target price (up from $78.00) on shares of Boyd Gaming in a research note on Friday, October 25th. Finally, Stifel Nicolaus upped their price target on Boyd Gaming from $67.00 to $74.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.80.

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.