Bally’s Corporation (NYSE:BALY) Receives Average Recommendation of “Reduce” from Brokerages

Bally’s Corporation (NYSE:BALY) has earned an average recommendation of “Reduce” from the five research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $11.75.

BALY has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Bally’s from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen cut shares of Bally’s from a “hold” rating to a “sell” rating in a research note on Sunday, August 23rd. Truist Financial lowered their price target on shares of Bally’s from $15.00 to $10.00 and set a “hold” rating for the company in a report on Wednesday, August 19th. Weiss Ratings cut Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. Finally, Barclays dropped their price target on Bally’s from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, August 19th.

Bally’s Price Performance

Bally’s stock opened at $12.40 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.91. Bally’s has a 52 week low of $8.44 and a 52 week high of $20.74. The stock has a market capitalization of $625.88 million, a P/E ratio of -1.82 and a beta of 1.76. The stock has a fifty day moving average of $11.64 and a 200-day moving average of $12.31.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Friday, August 14th. The company reported ($2.41) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($1.33). Bally’s had a negative net margin of 25.83% and a negative return on equity of 40.97%. The business had revenue of $792.23 million during the quarter, compared to analyst estimates of $789.89 million. On average, sell-side analysts expect that Bally’s will post -9.36 earnings per share for the current fiscal year.

Bally’s Company Profile

Bally’s Corporation is a gaming and entertainment company that operates casinos, resorts and online gaming platforms. Its business includes casino gaming, hotel accommodations, food and beverage, entertainment, and related hospitality services. The company’s casino properties offer table games, slot machines, sports betting where permitted, and other amenities designed to attract regional and destination customers.

Bally’s operates primarily in the United States, with properties and gaming operations serving markets across several states.