Bally’s (NYSE:BALY) Issues Earnings Results

Bally’s (NYSE:BALY) released its quarterly earnings results on Wednesday. The company reported ($3.61) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($2.48), Briefing.com reports. The business had revenue of $618.48 million during the quarter, compared to the consensus estimate 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 revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.74) earnings per share. Bally’s updated its FY 2024 guidance to EPS.

Bally’s Price Performance

Shares of NYSE:BALY traded up $0.02 during midday trading on Friday, reaching $13.02. 361,389 shares of the company were exchanged, compared to its average volume of 464,282. The stock has a market cap of $521.97 million, a PE ratio of -1.26 and a beta of 2.06. The business’s fifty day moving average is $13.00 and its two-hundred day moving average is $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. Bally’s has a one year low of $7.28 and a one year high of $16.96.

Wall Street Analysts Forecast Growth

BALY has been the subject of a number of analyst reports. Truist Financial upped their price target on Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Stifel Nicolaus lifted their price target on shares of Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a report on Thursday. Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 price objective on shares of Bally’s in a research note on Friday, January 5th. Finally, Macquarie cut shares of Bally’s from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $15.00 to $12.00 in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Bally’s presently 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.