Bally’s Co. (NYSE:BALY) Given Consensus Rating of “Buy” by Analysts

Bally’s Co. (NYSE:BALYGet Rating) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $51.86.

Several brokerages recently issued reports on BALY. Cowen cut their target price on shares of Bally’s from $75.00 to $58.00 in a research note on Friday, February 25th. Stifel Nicolaus cut their price objective on shares of Bally’s from $70.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Zacks Investment Research downgraded shares of Bally’s from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Truist Financial cut their price objective on shares of Bally’s from $53.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, April 19th. Finally, Jefferies Financial Group downgraded shares of Bally’s from a “buy” rating to a “hold” rating and cut their price objective for the stock from $54.00 to $38.00 in a research report on Monday, February 28th.

Bally’s stock opened at $25.23 on Thursday. Bally’s has a one year low of $21.25 and a one year high of $59.64. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -34.09 and a beta of 1.99. The firm has a 50-day moving average of $28.48 and a 200-day moving average of $33.82. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.97 and a quick ratio of 0.97.

Bally’s (NYSE:BALYGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.46. Bally’s had a negative net margin of 3.53% and a positive return on equity of 1.10%. The business had revenue of $548.30 million during the quarter, compared to the consensus estimate of $573.92 million. During the same period last year, the business posted $0.28 EPS. Bally’s’s revenue was up 185.1% on a year-over-year basis. As a group, sell-side analysts expect that Bally’s will post 0.96 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio increased its stake in Bally’s by 52.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 962 shares of the company’s stock valued at $37,000 after acquiring an additional 333 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Bally’s in the third quarter valued at approximately $51,000. UBS Group AG increased its stake in Bally’s by 1,300.0% in the third quarter. UBS Group AG now owns 1,050 shares of the company’s stock valued at $53,000 after acquiring an additional 975 shares during the last quarter. Advisor Group Holdings Inc. increased its stake in Bally’s by 29.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,538 shares of the company’s stock valued at $60,000 after acquiring an additional 351 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bally’s by 34.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,531 shares of the company’s stock valued at $172,000 after acquiring an additional 1,152 shares during the last quarter. 72.98% of the stock is currently owned by institutional investors.

About Bally’s (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.

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Analyst Recommendations for Bally's (NYSE:BALY)

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