Boyd Gaming (BYD) Stock: Why The Price Increased Today

By Amit Chowdhry ● Feb 7, 2022
  • The stock price of Boyd Gaming Corporation (NYSE: BYD) increased by 2.24% today. This is why it happened.

The stock price of Boyd Gaming Corporation (NYSE: BYD) increased by 2.24% today. Investors are responding positively to the company’s fourth-quarter results.

Boyd Gaming reported Q4 EPS of $1.35, which is $0.10 better than analyst estimates of $1.25. And the revenue for the quarter was $879.8 million compared to the consensus estimate of $839.3 million.

For the full year 2021, Boyd Gaming had reported revenues of $3.4 billion, compared to $2.2 billion for the full year 2020. And the company reported a net income of $463.8 million, or $4.07 per share, compared to a net loss of $134.7 million, or $1.19 per share, for the full year of 2020.

Boyd Gaming’s Board of Directors approved the reinstatement of a regular quarterly dividend, starting in Q2 2022. And the quarterly cash dividend of $0.15 per share will be paid on April 15, 2022, to shareholders of record as of March 15, 2022. This represents an increase from the company’s previous quarterly dividend of $0.07 per share, which was suspended in March 2020 due to the impact of the COVID pandemic on the company’s operations.

In October 2021, the company resumed regular share repurchases under a $300 million repurchase program authorized by the Board of Directors. When combined with amounts remaining under a previous authorization, the company had total availability of $361 million upon resuming its repurchase activity.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.