Boyd Gaming Corporation (NYSE:BYD) finished Friday with a subtraction of -$0.41 to close at $67.31, a downside of -0.61 percent. An average of 748,060 shares of common stock have been traded in the last five days. There was a gain of $0.58 in the past week, and it reached a new high 30 times over the past 12 months. The last 20 days have seen an average of 832,320 shares traded, while the 50-day average volume stands at 778,664.
BYD stock has decreased by -5.77% in the last month. The company shares reached their 1-month lowest point of $66.13 on 08/03/23. With the stock rallying to its 52-week high on 07/21/23, shares of the company touched a low of $46.10 and a high of $73.00 in 52 weeks. It has reached a new high 33 times so far this year and achieved 23.44% or $12.78 in price. In spite of this, the price is down -7.79% from the 52-week high.
Insider Transactions
BYD stock investors should be aware that Boyd Gaming Corporation (BYD) stock had its last reported insider trading activity 2 days ago on Aug 10. In this transaction, the insider spent $6,770,000. Chair Emeritus, BOYD WILLIAM S, disposed of 100,000 shares at a price of $67.42 on Aug 09. The insider now owns more than $6,742,000 worth of shares. Prior to that, Vice President BOYD WILLIAM R went on to Sale 11,431 shares at $67.37 each on Aug 04. An amount of $770,106 was transacted.
Valuation Metrics
Boyd Gaming Corporation (BYD) has a trailing price-to-earnings (P/E) ratio of 9.75. The stock’s beta is 1.76. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.86, the price-to-book (PB) ratio at 3.93, and the price-to-cash flow ratio at 11.82.
The company has a payout ratio of 2.20%. The company’s most recent quarterly dividend payment was $0.16 a share, without any change from last year. Its latest increase dividend $0.01 reported on Tuesday February 14 2023.
Financial Health
The quick ratio of Boyd Gaming Corporation for the three months ended June 29 was 0.80, and the current ratio was 0.80, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.66 and a total debt to equity ratio of 1.68 for the quarter ending June 29. Boyd Gaming Corporation’s EBITDA margin for the year ending June 29 is 37.64%, while its operating margin for the same period stands at 27.50%. Its gross profit as reported stood at $1.99 billion compared to revenue of $3.56 billion.
Earnings Surprise
For the three-month period that ended June 29, Boyd Gaming Corporation had $2.9 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $192.45 million in the quarter, while revenues of $199.73 million were grew 23.74%. The analyst consensus anticipated Boyd Gaming Corporation’s latest quarter earnings to come in at $1.65 per share, but it turned out to be $1.58, a -4.20% surprise. For the quarter, EBITDA amounted to $308.16 million. Shareholders own equity worth $100.01 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Boyd Gaming Corporation (BYD) price momentum. RSI 9-day as of the close on 11 August was 39.09%, suggesting the stock is Neutral, with historical volatility in this time frame at 9.59%.
As of today, BYD’s price is $67.41 +0.87% or $0.58 from its 5-day moving average. BYD is currently trading -6.32% lower than its 20-day SMA and +10.51% higher than its 100-day SMA. However, the stock’s current price level is +5.62% above the SMA50 and +25.16% above the SMA200.
The stochastic %K and %D were 19.70% and 19.16%, respectively, and the average true range (ATR) was 1.27. With the 14-day stochastic at 18.29% and the average true range at 1.31, the RSI (14) stands at 42.29%. The stock has reached 0.02 on the 9-day MACD Oscillator while the 14-day reading was at -0.86.
Analyst Ratings
Morgan Stanley upgraded Boyd Gaming Corporation (NYSE: BYD) to a an Equal-weight rating in its most recent analyst report. Previously, the stock was rated as an Underweight. The consensus rating for Boyd Gaming Corporation (BYD) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BYD, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 9 others rate it as a “buy”.
What is BYD’s price target for the next 12 months?
Analysts predict a range of price targets between $75.00 and $87.00, with a median target of $79.50. Taking a look at these predictions, the average price target given by analysts for Boyd Gaming Corporation (BYD) stock is $80.25.
