Boyd Gaming Corporation (NYSE:BYD) is 1.07 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 4.18% to $26.64 from its previous close of $25.57. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1342463 contracts so far this session. BYD shares had a relatively better volume day versus average trading capacity of 1.07 million shares, but with a 80.05 million float and a 9.09% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BYD stock indicates that the average analyst price target is $36 per share. This means the stock has a potential increase of 35.14% from where the BYD share price has been trading recently which is between $24.66 and $25.76. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $28.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Heres what the first weekend of sports betting at Indiana casinos was like” and dated September 10, 2019.
During the recent trading session for Boyd Gaming Corporation (NYSE:BYD), the company witnessed their stock rise $3.18 over a week and surge $2.98 from the price 20 days ago. When compared to their established 52-week high of $34.79, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/13/18. The recent low of $18.98 stood for a -23.43% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.17 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Boyd Gaming Corporation, the two-week RSI stands at 64.99. This figure suggests that BYD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BYD readings is similarly very revealing as it has a stochastic reading of 96.44% at this stage. This figure means that BYD share price today is being oversold.
Technical chart claims that Boyd Gaming Corporation (BYD) would settle between $26/share to $26.43/share level. However, if the stock price goes below the $24.9 mark, then the market for Boyd Gaming Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $24.23 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.26. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Barclays, assumed coverage of BYD assigning Equal Weight rating, according to their opinion released on September 03. Desjardins analysts bumped their rating on Boyd Gaming Corporation (NYSE:BYD) stock from Hold to Buy in a separate flash note issued to investors on August 16. Analysts at Telsey Advisory Group released an upgrade from Market Perform to Outperform for the stock, in a research note that dated back to July 31.
BYD equity has an average rating of 1.28, with the figure leaning towards a bullish end. 9 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated Boyd Gaming Corporation (NYSE:BYD) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, BYD stock price is currently trading at 12.8X forward 12-month Consensus EPS estimates, and its P/E ratio is 17.76 while for the average stock in the same group, the multiple is 10.01. Boyd Gaming Corporation current P/B ratio of 2.34 means it is trading at a discount against its industry’s 2.61.
Boyd Gaming Corporation (BYD)’s current-quarter revenues are projected to climb by nearly 35.65% to hit $830480, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 26.8% from $2.63 billion to a noteworthy $3.33 billion. At the other end of the current quarter income statement, Boyd Gaming Corporation is expected to see its adjusted earnings surge by roughly 69.57% to hit $0.39 per share. For the fiscal year, BYD’s earnings are projected to climb by roughly 29.32% to hit $1.72 per share.