Boyd Gaming (BYD) to Release Earnings on Thursday

Boyd Gaming (NYSE:BYD) will post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Boyd Gaming to post earnings of $1.56 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 8th. The company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.23. The business had revenue of $954.41 million during the quarter, compared to the consensus estimate of $928.04 million. Boyd Gaming had a return on equity of 36.97% and a net margin of 16.58%. Boyd Gaming’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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 Down 1.5 %

Shares of NYSE 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 company has a market cap of $6.10 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 3.03 and a beta of 1.60. Boyd Gaming has a 12 month low of $52.42 and a 12 month high of $73.00. The stock has a 50-day moving average price of $64.47 and a two-hundred day moving average price of $61.91.

Boyd Gaming Increases Dividend

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

Insider Activity at Boyd Gaming

In related news, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares of the company’s stock, valued at $555,168,740.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder William S. Boyd sold 125,000 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $63.72, for a total transaction of $7,965,000.00. Following the transaction, the insider now directly owns 9,108,913 shares of the company’s stock, valued at $580,419,936.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder William S. Boyd sold 63,464 shares of the company’s stock in a transaction 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 directly owns 8,795,449 shares in the company, valued at $555,168,740.88. The disclosure for this sale can be found here. Insiders sold a total of 582,910 shares of company stock worth $37,299,461 over the last quarter. 28.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP grew its position in shares of Boyd Gaming by 264.5% during the fourth quarter. GSA Capital Partners LLP now owns 21,115 shares of the company’s stock worth $1,322,000 after purchasing an additional 15,322 shares in the last quarter. Nitorum Capital L.P. lifted its stake in shares of Boyd Gaming by 32.9% during the 4th quarter. Nitorum Capital L.P. now owns 471,368 shares of the company’s stock worth $29,512,000 after acquiring an additional 116,778 shares during the last quarter. Nuveen Asset Management LLC raised its position in Boyd Gaming by 83.4% during the 4th quarter. Nuveen Asset Management LLC now owns 343,213 shares of the company’s stock valued at $21,492,000 after purchasing an additional 156,042 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Boyd Gaming during the 4th quarter valued at $309,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Boyd Gaming in the 4th quarter valued at $3,757,000. Institutional investors own 76.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BYD. Susquehanna reiterated a “neutral” rating and issued a $75.00 target price (down from $84.00) on shares of Boyd Gaming in a report on Monday, February 12th. Mizuho started coverage on Boyd Gaming in a research note on Tuesday, March 26th. They set a “buy” rating and a $80.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Boyd Gaming from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Morgan Stanley lifted their price objective on Boyd Gaming from $71.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays lifted their target price on Boyd Gaming from $66.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, January 26th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Boyd Gaming has a consensus rating of “Moderate Buy” and an average price target of $76.30.

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.