Boyd Gaming Co. (NYSE:BYD – Get Free Report) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $62.89, but opened at $54.14. Boyd Gaming shares last traded at $54.53, with a volume of 1,524,061 shares trading hands.
The company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The company had revenue of $960.52 million during the quarter, compared to analysts’ expectations of $947.26 million. Boyd Gaming had a net margin of 16.58% and a return on equity of 36.97%.
Boyd Gaming Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a $0.17 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. This is a positive change from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s payout ratio is 11.15%.
Analyst Upgrades and Downgrades
Read Our Latest Report on Boyd Gaming
Insider Activity at Boyd Gaming
In other news, Director A. Randall Thoman sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $63.75, for a total transaction of $159,375.00. Following the completion of the transaction, the director now directly owns 4,017 shares of the company’s stock, valued at $256,083.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Boyd Gaming news, COO Ted Bogich sold 41,631 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $64.79, for a total transaction of $2,697,272.49. Following the completion of the sale, the chief operating officer now owns 66,803 shares in the company, valued at approximately $4,328,166.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A. Randall Thoman sold 2,500 shares of Boyd Gaming stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $63.75, for a total value 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 ninety days, insiders have sold 582,910 shares of company stock worth $37,299,461. Company insiders own 27.94% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Boyd Gaming by 57.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 518 shares of the company’s stock worth $35,000 after purchasing an additional 189 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in Boyd Gaming by 105.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 411 shares of the company’s stock worth $25,000 after buying an additional 211 shares during the period. Great Lakes Advisors LLC raised its stake in Boyd Gaming by 3.7% during the 3rd quarter. Great Lakes Advisors LLC now owns 5,971 shares of the company’s stock worth $363,000 after buying an additional 213 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Boyd Gaming by 0.8% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 31,457 shares of the company’s stock worth $2,118,000 after purchasing an additional 264 shares in the last quarter. Finally, Lmcg Investments LLC grew its holdings in shares of Boyd Gaming by 2.2% in the 3rd quarter. Lmcg Investments LLC now owns 12,257 shares of the company’s stock valued at $746,000 after acquiring an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 76.81% of the company’s stock.
Boyd Gaming Price Performance
The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.85 and a current ratio of 0.89. The company has a market cap of $5.12 billion, a P/E ratio of 8.88, a PEG ratio of 2.98 and a beta of 1.60. The company has a fifty day moving average price of $64.19 and a two-hundred day moving average price of $62.06.
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.
Recommended Stories
- Five stocks we like better than Boyd Gaming
- What is MarketRankā¢? How to Use it
- 3 Stocks Leading the U.S. Agriculture Comeback
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- How to Use Put Debit Spreads to Profit From Falling Stocks
- How to Use Stock Screeners to Find Stocks
- Alphabet Changes the Narrative with Its First-Ever Dividend
Receive News & Ratings for Boyd Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boyd Gaming and related companies with MarketBeat.com's FREE daily email newsletter.