Boyd Gaming Co. (NYSE:BYD) Announces Dividend Increase – $0.07 Per Share

Boyd Gaming Co. (NYSE:BYD) announced a quarterly dividend on Friday, June 7th, RTT News reports. Stockholders of record on Monday, June 17th will be paid a dividend of 0.07 per share on Monday, July 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, June 14th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.06.

Boyd Gaming has a dividend payout ratio of 21.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Boyd Gaming to earn $2.12 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 13.2%.

Shares of NYSE BYD opened at $26.94 on Friday. The firm’s 50-day simple moving average is $26.00. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.72 and a quick ratio of 0.68. The stock has a market cap of $3.04 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 0.77 and a beta of 2.16. Boyd Gaming has a 12-month low of $18.98 and a 12-month high of $39.35.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $827.30 million for the quarter, compared to the consensus estimate of $826.52 million. Boyd Gaming had a net margin of 4.18% and a return on equity of 13.57%. The firm’s revenue was up 36.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, equities analysts forecast that Boyd Gaming will post 1.8 EPS for the current fiscal year.

BYD has been the topic of several analyst reports. Morgan Stanley set a $34.00 price target on shares of Boyd Gaming and gave the company a “buy” rating in a report on Friday, April 26th. TheStreet upgraded shares of Boyd Gaming from a “c+” rating to a “b” rating in a report on Monday, March 25th. ValuEngine upgraded shares of Boyd Gaming from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Finally, Wolfe Research began coverage on shares of Boyd Gaming in a research note on Friday, June 14th. They issued an “outperform” rating and a $37.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.11.

Boyd Gaming Company Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates through three segments: Las Vegas Locals, Downtown Las Vegas, and Midwest & South. As of March 13, 2019, the company operated 29 gaming entertainment properties located in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania.

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Dividend History for Boyd Gaming (NYSE:BYD)

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