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Wednesday, January 27, 2021

Boyd Gaming Corporation (NYSE:BYD) on the Path to Profitability

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Boyd Gaming Corporation (BYD) shares are trading at higher $28.72 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $30.18.

To add more color to this target, the company’s high over the last year is $36.22 and the low is $6.44. Over the last 52 weeks, BYD is up 11.97% while the S&P 500 is up 10.76%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BYD reported a profit of $109.09 million. Boyd Gaming Corporation also saw revenues increase to $209.86 million. In addition, BYD has free cash flow of -$128.72 million as of 06-2020. The company’s EBITDA came in at $20.23 million which compares well with its peers.

BYD booked profit margins of -7.60%, its Return on Equity (ROE) is -16.60%, and its Return on Assets is -2.80%. All told, it is clear that, BYD needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BYD has a short ratio of 2.89 and outstanding shares of 113.26M.

Company Outlook

BYD has seen increased volume after this news and investors are putting their support behind the value proposition. Traders will also note the company’s earnings per share came in at -1.70. Boyd Gaming Corporation BYD also noted assets of $7.44 billion at the end of the last quarter. Investors should also keep an eye on sector updates as BYD has historically followed its peers on positive news.

All told, Boyd Gaming Corporation BYD has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BYD represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Boyd Gaming Corporation BYD is now commanding a market cap of 3.26B and a float of 80.47M. BYD is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BYD stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BYD, either long or short, and we have not been compensated for this article.

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