Boyd Gaming (NYSE:BYD – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04, FiscalAI reports. Boyd Gaming had a net margin of 44.34% and a return on equity of 22.29%. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm earned $1.87 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis.
Here are the key takeaways from Boyd Gaming’s conference call:
- Boyd Gaming reported a solid second quarter, with revenue up 3% and EBITDA up 2% on a comparable basis, driven by growth in the Midwest & South segment, Boyd Interactive, and Sky River management fees.
- The Midwest & South business was a standout, with revenue up 3%, EBITDA up 4%, and margins reaching nearly 38%, the best level in almost two years.
- Las Vegas Locals remained mixed: softness at the Orleans and construction disruption at Suncoast weighed on results, but the rest of the portfolio grew revenue and EBITDA and continued to post 50%+ margins.
- Management raised full-year guidance for online EBITDA by $5 million to $35 million-$40 million and for the managed business by $3 million to $113 million-$117 million, citing strength at Boyd Interactive and Sky River.
- The company reiterated an active capital return program, including about $150 million of share repurchases per quarter, while maintaining a strong balance sheet with leverage at 2.2x and ample liquidity.
Boyd Gaming Price Performance
Shares of NYSE:BYD opened at $87.18 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 0.90. Boyd Gaming has a 1 year low of $76.33 and a 1 year high of $91.00. The business has a fifty day simple moving average of $85.83 and a 200 day simple moving average of $84.86. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 3.84, a P/E/G ratio of 2.05 and a beta of 1.07.
Boyd Gaming Announces Dividend
Boyd Gaming declared that its board has authorized a share buyback program on Thursday, April 23rd that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Analyst Ratings Changes
A number of research firms have recently issued reports on BYD. Weiss Ratings upgraded shares of Boyd Gaming from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 4th. Citigroup raised their price objective on shares of Boyd Gaming from $86.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Mizuho set a $104.00 target price on Boyd Gaming in a research report on Friday. Barclays lifted their target price on Boyd Gaming from $86.00 to $87.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Susquehanna upped their target price on Boyd Gaming from $84.00 to $87.00 and gave the company a “neutral” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.77.
View Our Latest Stock Report on BYD
Trending Headlines about Boyd Gaming
Here are the key news stories impacting Boyd Gaming this week:
- Positive Sentiment: Boyd Gaming beat earnings expectations with Q2 EPS of $1.93 versus the consensus estimate, which suggests stronger profitability than analysts anticipated. Boyd Gaming (BYD) Q2 Earnings and Revenues Beat Estimates
- Positive Sentiment: The company said results benefited from strong performance in its Midwest & South operations, Online segment, and Managed business, highlighting diversification across key revenue streams. BOYD GAMING REPORTS SECOND-QUARTER 2026 RESULTS
- Neutral Sentiment: Revenue of $1.03 billion was roughly in line with expectations, though slightly below the $1.04 billion forecast, so the top-line result was not a major surprise for investors. Boyd Gaming Corporation: Boyd Gaming Reports Second-quarter 2026 Results
- Neutral Sentiment: Market commentary noted that the stock may still look undervalued after the earnings release, but sentiment has cooled, suggesting investors are weighing solid fundamentals against a more cautious outlook. Boyd Gaming (BYD) Following Fresh Results Looks Undervalued But Sentiment Has Cooled
Insiders Place Their Bets
In other news, Chairman Marianne Boyd Johnson sold 62,914 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $84.03, for a total transaction of $5,286,663.42. Following the completion of the sale, the chairman directly owned 1,609,808 shares of the company’s stock, valued at $135,272,166.24. This trade represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Smith sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $85.90, for a total value of $8,590,000.00. Following the sale, the chief executive officer directly owned 996,981 shares of the company’s stock, valued at $85,640,667.90. This trade represents a 9.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 200,000 shares of company stock valued at $17,038,987. Insiders own 22.82% of the company’s stock.
Hedge Funds Weigh In On Boyd Gaming
A number of hedge funds have recently added to or reduced their stakes in BYD. Los Angeles Capital Management LLC acquired a new stake in Boyd Gaming in the fourth quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new position in shares of Boyd Gaming during the 4th quarter worth $25,000. Advisors Asset Management Inc. increased its stake in shares of Boyd Gaming by 56.8% during the 1st quarter. Advisors Asset Management Inc. now owns 541 shares of the company’s stock worth $36,000 after purchasing an additional 196 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Boyd Gaming by 139.9% during the 2nd quarter. Geneos Wealth Management Inc. now owns 619 shares of the company’s stock valued at $48,000 after purchasing an additional 361 shares in the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of Boyd Gaming during the 3rd quarter valued at $53,000. Institutional investors and hedge funds own 76.81% of the company’s stock.
Boyd Gaming Company Profile
Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.
Founded in 1975 by its namesake, William S.
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