Bally’s (BALY) Set to Announce Quarterly Earnings on Wednesday

Bally’s (NYSE:BALY) is set to post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Bally’s to post earnings of ($0.25) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($1.24) EPS for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.23. The business had revenue of $621.66 million for the quarter, compared to analyst estimates of $641.17 million. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. Bally’s’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted ($0.25) earnings per share. On average, analysts expect Bally’s to post $-5 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Bally’s Price Performance

Shares of NYSE:BALY opened at $17.39 on Wednesday. Bally’s has a 1 year low of $7.28 and a 1 year high of $18.00. The company has a market capitalization of $707.13 million, a PE ratio of -1.57 and a beta of 2.08. The business has a fifty day moving average price of $17.30 and a two-hundred day moving average price of $14.88. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58.

Analysts Set New Price Targets

Several brokerages have commented on BALY. Barclays lifted their price objective on shares of Bally’s from $10.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Jefferies Financial Group upped their price objective on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. JMP Securities reissued a “market perform” rating on shares of Bally’s in a research report on Monday, July 15th. Wells Fargo & Company upgraded shares of Bally’s from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $11.00 to $18.25 in a research note on Monday, July 29th. Finally, Truist Financial restated a “hold” rating and set a $18.25 target price (up previously from $16.00) on shares of Bally’s in a research report on Friday, July 26th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.14.

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.