Boyd Gaming (BYD) to Release Quarterly Earnings on Thursday

Boyd Gaming (NYSE:BYD) will announce its earnings results after the market closes on Thursday, October 24th. Analysts expect the company to announce earnings of $1.41 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.09. Boyd Gaming had a net margin of 13.32% and a return on equity of 34.29%. The firm had revenue of $967.50 million during the quarter, compared to the consensus estimate of $909.49 million. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. 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 Up 1.9 %

Shares of NYSE:BYD opened at $65.36 on Thursday. The business’s 50 day moving average is $61.22 and its 200 day moving average is $58.46. The stock has a market cap of $6.20 billion, a P/E ratio of 11.73 and a beta of 1.57. Boyd Gaming has a 52-week low of $49.34 and a 52-week high of $68.46. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

Boyd Gaming Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Sunday, September 15th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, September 13th. Boyd Gaming’s payout ratio is 12.21%.

Insider Buying and Selling at Boyd Gaming

In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now owns 1,096 shares in the company, valued at $66,154.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 73,130 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $60.23, for a total value of $4,404,619.90. Following the completion of the transaction, the chairman now owns 1,423,498 shares in the company, valued at approximately $85,737,284.54. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,242 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $60.36, for a total value of $74,967.12. Following the sale, the director now owns 1,096 shares in the company, valued at $66,154.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 27.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BYD. Macquarie dropped their target price on shares of Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Bank of America lifted their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Stifel Nicolaus boosted their price objective on shares of Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Morgan Stanley raised Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $66.00 to $74.00 in a research report on Wednesday, September 4th. Finally, StockNews.com raised Boyd Gaming from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Boyd Gaming currently has an average rating of “Moderate Buy” and an average price target of $89.31.

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.