Bally’s (NYSE:BALY) Announces Earnings Results

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

Bally’s Stock Performance

Shares of BALY traded up $0.02 during midday trading on Friday, reaching $13.02. The stock had a trading volume of 361,389 shares, compared to its average volume of 464,282. Bally’s has a one year low of $7.28 and a one year high of $16.96. The firm has a market cap of $521.97 million, a PE ratio of -1.26 and a beta of 2.06. The firm has a 50 day simple moving average of $13.00 and a 200-day simple moving average of $11.93. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73.

Wall Street Analysts Forecast Growth

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

Bally’s Company Profile

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.