Boyd Gaming Corp. (NYSE: BYD) has seen a decline in its stock price by -0.82 in relation to its previous close of 53.95. However, the company has experienced a -15.86% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-26 that Boyd Gaming’s (BYD) first-quarter 2023 performance is impacted by January’s severe winter weather in the Midwest and South and a softer Las Vegas locals market.
Is It Worth Investing in Boyd Gaming Corp. (NYSE: BYD) Right Now?
Boyd Gaming Corp. (NYSE: BYD) has a price-to-earnings ratio that is above its average at 9.62x. The stock has a 36-month beta value of 1.64. Opinions on the stock are mixed, with 7 analysts rating it as a “buy,” 0 as “overweight,” 5 as “hold,” and 0 as “sell.”
The public float for BYD is 74.09M, and at present, short sellers hold a 4.11% of that float. On May 01, 2024, the average trading volume of BYD was 864.99K shares.
BYD’s Market Performance
BYD’s stock has seen a -15.86% decrease for the week, with a -20.93% drop in the past month and a -17.08% fall in the past quarter. The volatility ratio for the week is 2.87%, and the volatility levels for the past 30 days are at 1.99% for Boyd Gaming Corp. The simple moving average for the past 20 days is -15.85% for BYD’s stock, with a -15.10% simple moving average for the past 200 days.
Analysts’ Opinion of BYD
Many brokerage firms have already submitted their reports for BYD stocks, with JP Morgan repeating the rating for BYD by listing it as a “Neutral.” The predicted price for BYD in the upcoming period, according to JP Morgan is $67 based on the research report published on April 26, 2024 of the current year 2024.
Deutsche Bank, on the other hand, stated in their research note that they expect to see BYD reach a price target of $71, previously predicting the price at $78. The rating they have provided for BYD stocks is “Hold” according to the report published on April 26th, 2024.
Mizuho gave a rating of “Buy” to BYD, setting the target price at $80 in the report published on March 26th of the current year.
BYD Trading at -16.02% from the 50-Day Moving Average
After a stumble in the market that brought BYD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -26.70% of loss for the given period.
Volatility was left at 1.99%, however, over the last 30 days, the volatility rate increased by 2.87%, as shares sank -19.73% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -15.56% lower at present.
During the last 5 trading sessions, BYD fell by -15.86%, which changed the moving average for the period of 200-days by -25.53% in comparison to the 20-day moving average, which settled at $62.93. In addition, Boyd Gaming Corp. saw -14.53% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BYD starting from BOYD WILLIAM S, who sale 32,703 shares at the price of $62.10 back on Mar 14 ’24. After this action, BOYD WILLIAM S now owns 8,762,746 shares of Boyd Gaming Corp., valued at $2,030,856 using the latest closing price.
BOYD WILLIAM S, the 10% Owner of Boyd Gaming Corp., sale 63,464 shares at $63.12 during a trade that took place back on Mar 13 ’24, which means that BOYD WILLIAM S is holding 8,795,449 shares at $4,005,848 based on the most recent closing price.
Stock Fundamentals for BYD
Current profitability levels for the company are sitting at:
- 0.25 for the present operating margin
- 0.5 for the gross margin
The net margin for Boyd Gaming Corp. stands at 0.15. The total capital return value is set at 0.16. Equity return is now at value 37.19, with 9.50 for asset returns.
Based on Boyd Gaming Corp. (BYD), the company’s capital structure generated 0.63 points at debt to capital in total, while cash flow to debt ratio is standing at 0.3. The debt to equity ratio resting at 1.73. The interest coverage ratio of the stock is 5.6.
Currently, EBITDA for the company is 1.27 billion with net debt to EBITDA at 2.82. When we switch over and look at the enterprise to sales, we see a ratio of 2.29. The receivables turnover for the company is 26.41for trailing twelve months and the total asset turnover is 0.57. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.89.
Conclusion
To sum up, Boyd Gaming Corp. (BYD) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
