Boyd Gaming (BYD) Declares $0.16 Dividend

Boyd Gaming said on May 5, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Previously, the company paid $0.16 per share.

Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 15, 2023.

At the current share price of $70.28 / share, the stock's dividend yield is 0.91%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.97%, the lowest has been 0.52%, and the highest has been 2.58%. The standard deviation of yields is 0.24 (n=147).

The current dividend yield is 0.25 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

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What is the Fund Sentiment?

There are 813 funds or institutions reporting positions in Boyd Gaming. This is an increase of 33 owner(s) or 4.23% in the last quarter. Average portfolio weight of all funds dedicated to BYD is 0.30%, a decrease of 2.08%. Total shares owned by institutions decreased in the last three months by 1.18% to 87,667K shares. The put/call ratio of BYD is 2.22, indicating a bearish outlook.

Analyst Price Forecast Suggests 7.73% Upside

As of April 24, 2023, the average one-year price target for Boyd Gaming is 75.72. The forecasts range from a low of 62.62 to a high of $87.15. The average price target represents an increase of 7.73% from its latest reported closing price of 70.28.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Boyd Gaming is 3,490MM, a decrease of 4.61%. The projected annual non-GAAP EPS is 5.48.

What are Other Shareholders Doing?

Cohen & Steers holds 4,124K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 4,297K shares, representing a decrease of 4.18%. The firm increased its portfolio allocation in BYD by 8.34% over the last quarter.

HG Vora Capital Management holds 4,000K shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 5,000K shares, representing a decrease of 25.00%. The firm decreased its portfolio allocation in BYD by 18.95% over the last quarter.

Ariel Investments holds 3,457K shares representing 3.39% ownership of the company. In it's prior filing, the firm reported owning 3,563K shares, representing a decrease of 3.08%. The firm increased its portfolio allocation in BYD by 4.74% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 2,450K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 2,374K shares, representing an increase of 3.09%. The firm increased its portfolio allocation in BYD by 3.07% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,055K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 2,233K shares, representing a decrease of 8.65%. The firm decreased its portfolio allocation in BYD by 2.73% over the last quarter.

Boyd Gaming Background Information
(This description is provided by the company.)

Founded in 1975, Boyd Gaming Corporation is a leading geographically diversified operator of 29 gaming entertainment properties in 10 states. The Company is also a strategic partner and 5% equity owner of FanDuel Group, the nation's leading sports-betting and iGaming operator. With one of the most experienced leadership teams in the casino industry, Boyd Gaming prides itself on offering its guests an outstanding entertainment experience, delivered with unwavering attention to customer service.

This story originally appeared on Fintel.