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

Bally’s Co. (NYSE:BALY) has received an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $17.14.

Several equities analysts have commented on the company. TD Cowen reissued a “hold” rating and set a $18.25 price objective (up previously from $15.00) on shares of Bally’s in a research report on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Bally’s from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $11.00 to $18.25 in a report on Monday, July 29th. JMP Securities reiterated a “market perform” rating on shares of Bally’s in a report on Monday, July 15th. Finally, Jefferies Financial Group boosted their price target on Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd.

Bally’s Price Performance

BALY stock opened at $17.39 on Thursday. The firm has a 50-day moving average of $17.27 and a 200 day moving average of $14.75. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58. The company has a market cap of $704.03 million, a P/E ratio of -1.68 and a beta of 2.08. Bally’s has a 1 year low of $7.28 and a 1 year high of $18.00.

Bally’s (NYSE:BALY) last announced its earnings results on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.47) by $0.23. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. The firm had revenue of $621.66 million during the quarter, compared to analyst estimates of $641.17 million. During the same quarter in the prior year, the company earned ($0.25) EPS. The business’s revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that Bally’s will post -5.32 EPS for the current year.

Hedge Funds Weigh In On Bally’s

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC purchased a new stake in Bally’s during the second quarter valued at $131,000. SG Americas Securities LLC bought a new stake in shares of Bally’s during the 3rd quarter valued at about $153,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Bally’s during the 2nd quarter valued at about $217,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Bally’s by 7.4% in 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 period. Finally, PEAK6 Investments LLC boosted its holdings in shares of Bally’s by 20.2% in 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 during the last quarter. 70.41% of the stock is owned by institutional investors.

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.