Boyd Gaming Corporation (NYSE: BYD) stock jumped 0.36% on Thursday to $64.97 against a previous-day closing price of $64.74. With 0.69 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.93 million shares. During the session, the Resorts & Casinos company that operates in wider Consumer Cyclical sector, reached to the highest price of $65.78 whereas the lowest price it dropped to was $64.44. The 52-week range on BYD shows that it touched its highest point at $71.69 and its lowest point at $46.10 during that stretch. It currently has a 1-year price target of $78.54. With its current market cap of 6.64 billion, BYD has annualized dividend of $0.64 while the current yield stands at 0.99%. Beta for the stock currently stands at 1.78.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BYD was down-trending over the past week, with a drop of -3.85%, but this was down by -3.39% over a month. Three-month performance surged to 2.20% while six-month performance rose 6.84%. The stock gained 23.78% in the past year, while it has gained 19.15% so far this year. A look at the trailing 12-month EPS for BYD yields 6.35 with Next year EPS estimates of 6.77. For the next quarter, that number is 1.68. This implies an EPS growth rate of 44.30% for this year and 2.90% for next year. EPS is expected to grow by 10.31% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 44.40%.
Float and Shares Shorts:
At present, 103.62 million BYD shares are outstanding with a float of 74.50 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.69 million, which was 3.64% higher than short shares on Mar 30, 2023. In addition to Mr. Keith E. Smith as the firm’s Pres, CEO & Director, Mr. Josh Hirsberg serves as its Exec. VP, CFO & Treasurer.
Institutional Ownership:
Through their ownership of 73.17% of BYD’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.80% of BYD, in contrast to 31.64% held by mutual funds. Shares owned by individuals account for 31.21%. As the largest shareholder in BYD with 8.38% of the stake, The Vanguard Group, Inc. holds 8,550,112 shares worth 8,550,112. A second-largest stockholder of BYD, BlackRock Fund Advisors, holds 6,480,413 shares, controlling over 6.35% of the firm’s shares. Cohen & Steers Capital Management is the third largest shareholder in BYD, holding 3,964,188 shares or 3.89% stake. With a 2.43% stake in BYD, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 2,475,356 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.21% of BYD stock, is the second-largest Mutual Fund holder. It holds 2,255,812 shares valued at 156.55 million. Vanguard Small Cap Index Fund holds 1.87% of the stake in BYD, owning 1,910,922 shares worth 132.62 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, BYD reported revenue of $894.45M and operating income of $245.07M. The EBITDA in the recently reported quarter was $308.56M and diluted EPS was $1.33.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BYD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BYD analysts setting a high price target of $85.00 and a low target of $65.00, the average target price over the next 12 months is $78.43. Based on these targets, BYD could surge 30.83% to reach the target high and rise by 0.05% to reach the target low. Reaching the average price target will result in a growth of 20.72% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded BYD stock several times over the past three months with 0 Buys and 7 Sells. In these transactions, 0 shares were bought while 167,901 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 71 over the past year. The total number of shares bought during that period was 754,638 while 2,364,538 shares were sold.
