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Stock To Watch: Boyd Gaming Corporation (BYD) In Perilous Reversal

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Boyd Gaming Corporation ( BYD) as a "perilous reversal" (up big yesterday but down big today) candidate. In addition to specific proprietary factors, Trade-Ideas identified Boyd Gaming Corporation as such a stock due to the following factors:

  • BYD has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $26.1 million.
  • BYD has traded 247,541 shares today.
  • BYD is down 3% today.
  • BYD was up 9.9% yesterday.

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More details on BYD:

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in the United States. The company operates in five segments: Las Vegas Locals, Downtown Las Vegas, Midwest and South, Peninsula Gaming, and Atlantic City. The stock currently has a dividend yield of 5.1%. Currently there are 2 analysts that rate Boyd Gaming Corporation a buy, 3 analysts rate it a sell, and 9 rate it a hold.

The average volume for Boyd Gaming Corporation has been 2.5 million shares per day over the past 30 days. Boyd Gaming has a market cap of $1.2 billion and is part of the services sector and leisure industry. The stock has a beta of 2.36 and a short float of 20.1% with 4.02 days to cover. Shares are up 73.2% year to date as of the close of trading on Wednesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Boyd Gaming Corporation as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.

Highlights from the ratings report include:

  • The revenue growth came in higher than the industry average of 0.8%. Since the same quarter one year prior, revenues rose by 20.6%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Compared to its closing price of one year ago, BYD's share price has jumped by 99.23%, exceeding the performance of the broader market during that same time frame. Regarding the stock's future course, our hold rating indicates that we do not recommend additional investment in this stock despite its gains in the past year.
  • 38.89% is the gross profit margin for BOYD GAMING CORP which we consider to be strong. It has increased from the same quarter the previous year. Regardless of the strong results of the gross profit margin, the net profit margin of -5.04% is in-line with the industry average.
  • Although BYD's debt-to-equity ratio of 8.52 is very high, it is currently less than that of the industry average. To add to this, BYD has a quick ratio of 0.53, this demonstrates the lack of ability of the company to cover short-term liquidity needs.
  • Return on equity has greatly decreased when compared to its ROE from the same quarter one year prior. This is a signal of major weakness within the corporation. Compared to other companies in the Hotels, Restaurants & Leisure industry and the overall market, BOYD GAMING CORP's return on equity significantly trails that of both the industry average and the S&P 500.

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