Last Updated: 14 Sep 2024
Executive Summary
Boyd Gaming Corporation (BYD) is a multi-jurisdictional gaming company headquartered in Las Vegas, Nevada. The company operates 28 gaming properties in 10 states. BYD's stock price is currently trading at $61.26, with a market capitalization of $5.62 billion. The company has a strong financial position, with an EBITDA of $1.19 billion and a net income of $474.5 million in the last twelve months. BYD also pays a quarterly dividend of $0.66 per share, which yields 1.13% annually.
Company Overview
Boyd Gaming Corporation was founded in 1975 and is one of the largest gaming companies in the United States. The company's properties include casinos, hotels, and restaurants. BYD's largest markets are Nevada, Illinois, and Ohio. The company also has operations in Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, and Pennsylvania.
Fundamental Analysis
BYD's financial performance has been strong in recent years. The company's revenue has grown from $3.1 billion in 2019 to $3.8 billion in 2023. The company's net income has also increased from $290.6 million in 2019 to $474.5 million in 2023. BYD's financial strength is reflected in its strong balance sheet. The company has $1.5 billion in cash and equivalents and $1.3 billion in debt. BYD's debt-to-equity ratio is 0.4, which is below the industry average.
Technical Analysis
BYD's stock price has been trending higher in recent months. The stock price broke out of a resistance level at $58.00 in July 2023 and has since rallied to a high of $68.05. The stock price is currently trading above its 50-day and 200-day moving averages, which indicates that the trend is bullish.
Short Term Outlook
The short-term outlook for BYD is positive. The company's financial performance is strong and the stock price is trending higher. The stock price is expected to continue to rise in the short term, with a target price of $70.38.
Long Term Outlook
The long-term outlook for BYD is also positive. The company is well-positioned to benefit from the growth of the gaming industry. The company's strong financial position and experienced management team will allow it to continue to grow its business in the years to come.
Analyst Recommendations
Analysts are bullish on BYD. The consensus rating on the stock is "Buy." The average target price for the stock is $70.38.
