Trade-Ideas LLC identified
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Boyd Gaming 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 $41.6 million.
- BYD has traded 140,837 shares today.
- BYD is trading at 2.95 times the normal volume for the stock at this time of day.
- BYD is trading at a new high 3.06% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
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More details on BYD:
Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company. It operates in five segments: Las Vegas, Downtown Las Vegas, Midwest and South, Peninsula, and Borgata. BYD has a PE ratio of 39. Currently there are 6 analysts that rate Boyd Gaming a buy, no analysts rate it a sell, and 6 rate it a hold.
The average volume for Boyd Gaming has been 1.8 million shares per day over the past 30 days. Boyd Gaming has a market cap of $1.8 billion and is part of the services sector and leisure industry. The stock has a beta of 1.84 and a short float of 11.9% with 3.80 days to cover. Shares are down 17.7% year-to-date as of the close of trading on Thursday.
rates Boyd Gaming as a
. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that the company's profit margins have been poor overall.
Highlights from the ratings report include:
- 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 two years. 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 turned its bottom line around by earning $0.41 versus -$0.48 in the prior year. This year, the market expects an improvement in earnings ($1.06 versus $0.41).
- 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 78.8% when compared to the same quarter one year prior, rising from -$32.42 million to -$6.87 million.
- BYD's revenue growth trails the industry average of 12.9%. Since the same quarter one year prior, revenues slightly increased by 2.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
- 41.30% 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 -1.26% is in-line with the industry average.
- Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. We feel that the combination of its price rise over the last year and its current price-to-earnings ratio relative to its industry tend to reduce its upside potential.
- You can view the full Boyd Gaming Ratings Report.