Bally’s (NYSE:BALY) Announces Quarterly Earnings Results

Bally’s (NYSE:BALY) posted its quarterly earnings data on Wednesday. The company reported ($3.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48), Briefing.com reports. The firm had revenue of $618.48 million for the quarter, compared to analysts’ expectations of $625.94 million. Bally’s had a negative net margin of 21.26% and a negative return on equity of 32.28%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.74) EPS. Bally’s updated its FY 2024 guidance to EPS.

Bally’s Stock Up 0.2 %

NYSE BALY traded up $0.02 on Friday, hitting $13.02. 361,389 shares of the stock traded hands, compared to its average volume of 464,282. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73. The stock has a 50-day moving average of $13.00 and a 200 day moving average of $11.93. Bally’s has a twelve month low of $7.28 and a twelve month high of $16.96. The company has a market capitalization of $521.97 million, a P/E ratio of -1.26 and a beta of 2.06.

Analysts Set New Price Targets

A number of equities analysts have commented on BALY shares. Wells Fargo & Company reiterated an “underweight” rating and issued a $10.00 price objective on shares of Bally’s in a report on Friday, January 5th. Macquarie downgraded Bally’s from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $12.00 in a report on Wednesday, January 17th. Stifel Nicolaus raised their price objective on Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Truist Financial increased their target price on Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $15.71.

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.