Bally’s Co. (NYSE:BALY) Receives Consensus Recommendation of “Hold” from Analysts

Bally’s Co. (NYSE:BALY) has received an average rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $17.14.

Several research analysts recently weighed in on BALY shares. JMP Securities reiterated a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Truist Financial reiterated a “hold” rating and issued a $18.25 target price (up from $16.00) on shares of Bally’s in a research note on Friday, July 26th. Jefferies Financial Group raised their price target on shares of Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Barclays increased their target price on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st.

Bally’s Stock Down 0.5 %

BALY stock opened at $17.22 on Friday. The company has a market capitalization of $699.65 million, a P/E ratio of -1.66 and a beta of 2.09. Bally’s has a 12 month low of $7.28 and a 12 month high of $17.73. The firm’s fifty day simple moving average is $16.60 and its 200-day simple moving average is $14.06. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share for the quarter, topping the consensus estimate of ($1.47) by $0.23. The company had revenue of $621.66 million for the quarter, compared to the consensus estimate of $641.17 million. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.25) EPS. As a group, equities research analysts forecast that Bally’s will post -5.2 earnings per share for the current year.

Institutional Investors Weigh In On Bally’s

Several institutional investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Bally’s during the second quarter valued at approximately $131,000. Garde Capital Inc. raised its stake in Bally’s by 50.0% in the 4th quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock valued at $209,000 after purchasing an additional 5,000 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new position in Bally’s in the 2nd quarter valued at $217,000. Price T Rowe Associates Inc. MD boosted its stake in Bally’s by 7.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares during the last quarter. Finally, PEAK6 Investments LLC grew its holdings in shares of Bally’s by 20.2% during the first quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after buying an additional 4,446 shares in the last quarter. 70.41% of the stock is currently owned by institutional investors and hedge funds.

About Bally’s

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.