As of Friday close, Boyd Gaming Corporation’s (NYSE:BYD) stock was up $0.05, moving up 0.08 percent to $64.80. The average number of shares traded per day over the past five days has been 705,160 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.51 fall in that time frame. In the last twenty days, the average volume was 829,575, while in the previous 50 days, it was 765,262.
Since last month, BYD stock retreated -10.41%. Shares of the company fell to $63.97 on 08/18/23, the lowest level in the past month. A 52-week high of $73.00 was reached on 07/21/23 after having rallying from a 52-week low of $46.10. Since the beginning of this year, BYD’s stock price has risen by 18.83% or $10.27, and marked a new high 33 times. However, the stock has declined by -11.23% since its 52-week high.
BYD stock investors should be aware that Boyd Gaming Corporation (BYD) stock had its last reported insider trading activity 3 days ago on Aug 16. BOYD WILLIAM S, the Chair Emeritus of the company, disposed of 44,100 shares for $66.60 on Aug 16. It resulted in a $2,937,060 divestment by the insider. BOYD WILLIAM S sold 1,914 shares at an average price of $67.00 on Aug 15. The insider now owns 9,764,310 shares following the transaction. On Aug 10, Chair Emeritus BOYD WILLIAM S sold 100,000 shares at $67.70 apiece. The transaction was valued at $6,770,000.
Valuation Metrics
Right now, Boyd Gaming Corporation (BYD) has a P/E ratio of about 9.39. The stock’s beta is 1.76. Besides these, the trailing price-to-sales (P/S) ratio of 1.77, the price-to-book (PB) ratio of 3.78, and the price-to-cash flow ratio of 10.17 may also be considered.
The latest dividend of $0.16 per share was paid out, remained unchanged from last year’s $0.16.
Financial Health
In the three months ended June 29, Boyd Gaming Corporation’s quick ratio stood at 0.80, while its current ratio was 0.80, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.66, and the total debt-to-equity ratio was 1.68. On the profitability front, the trailing twelve-month gross margin is 55.20% percent. In the year ended June 29, EBITDA margin amounted to 37.64%, whereas operating margins totaled 27.50%. Based on annual data, BYD earned $1.99 billion in gross profit and brought in $3.56 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 16.60%. Return on equity (ROE) for the past 12 months was 44.10%.
In Boyd Gaming Corporation’s quarter-end financial report for June 29, it reported total debt of $2.9 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. BYD’s revenue rose 2.45% to $963.97 million during the quarter, while net income inched up to $916.95 million. While analysts expected Boyd Gaming Corporation to report $1.65 quarterly earnings, the actual figure was $1.58 per share, beating the consensus estimate by -4.20%. During the quarter, the company generated $308.16 million in EBITDA. The liabilities of Boyd Gaming Corporation were 4.56 billion at the end of its most recent quarter ended June 29, and its total debt was $3.77 billion. The value of shareholders’ equity is $100.01 million.
Technical Picture
This quick technical analysis looks at Boyd Gaming Corporation’s (BYD) price momentum. With a historical volatility rate of 11.88%, the RSI 9-day stood at 24.51% on 18 August.
With respect to its five-day moving average, the current Boyd Gaming Corporation price is down by -3.73% percent or -$2.51. At present, BYD shares trade -10.32% below its 20-day simple moving average and +6.37% percent above its 100-day simple moving average. However, the stock is currently trading approximately -5.30% below its SMA50 and +12.19% above its SMA200.
Stochastic coefficient K was 7.74% and Stochastic coefficient D was 7.77%, while ATR was 1.30. Given the Stochastic reading of 17.18% for the 14-day period, the RSI (14) reading has been calculated as 32.01%. As of today, the MACD Oscillator reading stands at -1.42, while the 14-day reading stands at -1.70.
Analyst Ratings
Morgan Stanley upgraded its rating on Boyd Gaming Corporation (NYSE: BYD) to an Equal-weight in a note to investors on July 14, 2023. The analysts firm previously had an Underweight rating on the stock.Boyd Gaming Corporation (BYD) has been rated Overweight by analysts. According to 0 brokerage firms, BYD is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Boyd Gaming Corporation stock as buy, with 9 recommending it as overweight.
With a median target price of $79.50, the current consensus forecast for the stock is $75.00 – $87.00. Based on these forecasts, analysts predict Boyd Gaming Corporation (BYD) will achieve an average price target of $80.25.
