The hedge fund currently holds 4.99% of Boyd's common stock, with a 2.05% exposure to common shares via derivatives. Combined the Elliott says it has 7% economic exposure to Boyd, with 4.99% voting power.
By disclosing its stake in the company Elliott can seek meetings with Boyd's board or its management to discuss strategic alternatives. The hedge fund said it has no current plan or proposal to meet with management.
- The revenue growth came in higher than the industry average of 5.4%. Since the same quarter one year prior, revenues slightly increased by 9.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Powered by its strong earnings growth of 95.79% and other important driving factors, this stock has surged by 72.71% over the past year, outperforming the rise in the S&P 500 Index during the same period. 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.
- BOYD GAMING CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, BOYD GAMING CORP continued to lose money by earning -$0.87 versus -$10.30 in the prior year. This year, the market expects an improvement in earnings ($0.21 versus -$0.87).
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Hotels, Restaurants & Leisure industry. The net income increased by 94.7% when compared to the same quarter one year prior, rising from -$899.90 million to -$47.34 million.
- 37.81% 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 -6.94% is in-line with the industry average.
- You can view the full analysis from the report here: BYD Ratings Report