Bally’s Co. (NYSE:BALY) – Equities research analysts at KeyCorp lifted their Q1 2021 earnings per share (EPS) estimates for shares of Bally’s in a report issued on Sunday, April 18th. KeyCorp analyst B. Andress now forecasts that the company will post earnings per share of $0.37 for the quarter, up from their prior forecast of $0.15. KeyCorp currently has a “Overweight” rating and a $70.00 target price on the stock. KeyCorp also issued estimates for Bally’s’ Q2 2021 earnings at $0.52 EPS, Q4 2021 earnings at $0.38 EPS, FY2021 earnings at $1.65 EPS, Q1 2022 earnings at $0.52 EPS, Q2 2022 earnings at $0.57 EPS and Q3 2022 earnings at $0.40 EPS.
Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, March 3rd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.60. Bally’s had a negative return on equity of 1.12% and a negative net margin of 3.21%. The firm had revenue of $118.10 million for the quarter, compared to the consensus estimate of $123.43 million. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year.
NYSE BALY opened at $57.72 on Wednesday. The stock has a 50-day moving average of $64.37. The company has a debt-to-equity ratio of 6.00, a current ratio of 2.03 and a quick ratio of 1.94. Bally’s has a 52 week low of $11.35 and a 52 week high of $75.92. The company has a market capitalization of $1.84 billion, a P/E ratio of -134.23 and a beta of 2.73.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BALY. Federated Hermes Inc. acquired a new stake in shares of Bally’s in the fourth quarter valued at approximately $27,000. ProShare Advisors LLC acquired a new stake in shares of Bally’s in the fourth quarter valued at approximately $200,000. Citigroup Inc. acquired a new stake in shares of Bally’s in the fourth quarter valued at approximately $204,000. Arizona State Retirement System purchased a new position in Bally’s in the fourth quarter worth approximately $244,000. Finally, Ancora Advisors LLC purchased a new position in Bally’s in the fourth quarter worth approximately $286,000.
In related news, major shareholder General L.P. Standard sold 909,090 shares of the business’s stock in a transaction on Friday, April 16th. The stock was sold at an average price of $55.00, for a total transaction of $49,999,950.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Marc A. Crisafulli sold 10,000 shares of the business’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $74.58, for a total value of $745,800.00. Following the transaction, the executive vice president now owns 23,267 shares in the company, valued at $1,735,252.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,195,867 shares of company stock valued at $66,703,493. Corporate insiders own 40.34% of the company’s stock.
Bally's Corporation owns and operates gaming and racing facilities in the United States. Its gaming and racing facilities include slot machines and various casino table games, and restaurant and hotel facilities. The company owns and manages Twin River Casino Hotel in Lincoln, Rhode Island; Tiverton Casino Hotel in Tiverton, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Casino Vicksburg in Vicksburg, Mississippi; Dover Downs Hotel & Casino in Dover, Delaware; Casino KC in Kansas City, Missouri; Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado; Bally's Atlantic City, Atlantic City, New Jersey; Eldorado Resort Casino Shreveport, Shreveport, Los Angeles; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.
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