Bally’s Co. (NYSE:BALY) Receives $54.29 Consensus Target Price from Analysts

Shares of Bally’s Co. (NYSE:BALYGet Rating) have received an average recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $54.29.

Several research analysts have recently issued reports on BALY shares. Cowen dropped their price objective on shares of Bally’s from $75.00 to $58.00 in a report on Friday, February 25th. Stifel Nicolaus dropped their price objective on shares of Bally’s from $70.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, February 23rd. Jefferies Financial Group downgraded shares of Bally’s from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $54.00 to $38.00 in a report on Monday, February 28th. Zacks Investment Research lowered shares of Bally’s from a “hold” rating to a “strong sell” rating in a research report on Monday, January 17th. Finally, Truist Financial decreased their target price on shares of Bally’s from $80.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, January 13th.

BALY traded down $0.71 during trading on Wednesday, hitting $27.16. The stock had a trading volume of 492,268 shares, compared to its average volume of 571,272. The firm has a market cap of $1.48 billion, a PE ratio of -25.57 and a beta of 2.16. Bally’s has a 12 month low of $26.11 and a 12 month high of $62.76. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 2.12. The company has a 50 day simple moving average of $32.96 and a 200-day simple moving average of $38.78.

Bally’s (NYSE:BALYGet Rating) last announced its earnings results on Thursday, February 24th. The company reported ($1.87) EPS for the quarter, missing the consensus estimate of $0.46 by ($2.33). The firm had revenue of $547.60 million during the quarter, compared to the consensus estimate of $587.33 million. Bally’s had a positive return on equity of 3.37% and a negative net margin of 5.43%. The business’s revenue was up 363.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. As a group, sell-side analysts anticipate that Bally’s will post -0.29 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. Standard General L.P. raised its stake in shares of Bally’s by 10.5% in the fourth quarter. Standard General L.P. now owns 11,424,849 shares of the company’s stock worth $434,830,000 after acquiring an additional 1,082,780 shares during the last quarter. BlackRock Inc. raised its stake in shares of Bally’s by 3.0% in the fourth quarter. BlackRock Inc. now owns 2,048,016 shares of the company’s stock worth $77,947,000 after acquiring an additional 60,565 shares during the last quarter. HG Vora Capital Management LLC raised its stake in shares of Bally’s by 50.0% in the fourth quarter. HG Vora Capital Management LLC now owns 1,500,000 shares of the company’s stock worth $57,090,000 after acquiring an additional 500,000 shares during the last quarter. Man Group plc raised its stake in shares of Bally’s by 19.3% in the third quarter. Man Group plc now owns 1,164,966 shares of the company’s stock worth $58,412,000 after acquiring an additional 188,823 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Bally’s by 59.0% in the fourth quarter. Invesco Ltd. now owns 1,087,183 shares of the company’s stock worth $41,378,000 after acquiring an additional 403,273 shares during the last quarter. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Bally’s Company Profile (Get Rating)

Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games.

Further Reading

Analyst Recommendations for Bally's (NYSE:BALY)

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