Analysts Set Bally’s Co. (NYSE:BALY) Price Target at $17.13

Bally’s Co. (NYSE:BALY) has earned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.13.

A number of brokerages have recently issued reports on BALY. Citizens Jmp raised Bally’s to a “hold” rating in a research note on Tuesday, March 18th. Barclays lowered their price objective on Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, March 10th. Finally, Stifel Nicolaus cut their target price on shares of Bally’s from $17.00 to $14.00 and set a “hold” rating on the stock in a report on Thursday, March 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd bought a new position in Bally’s in the third quarter worth $48,000. BNP Paribas Financial Markets bought a new position in shares of Bally’s in the 4th quarter worth about $58,000. SG Americas Securities LLC lifted its position in Bally’s by 7.0% during the 4th quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after acquiring an additional 624 shares during the period. Intech Investment Management LLC bought a new stake in Bally’s during the fourth quarter worth about $196,000. Finally, Two Sigma Advisers LP purchased a new stake in Bally’s in the fourth quarter worth about $250,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Stock Performance

Shares of BALY opened at $13.21 on Monday. The company has a current ratio of 0.56, a quick ratio of 0.54 and a debt-to-equity ratio of 15.62. Bally’s has a 12-month low of $10.00 and a 12-month high of $18.98. The company has a market cap of $640.82 million, a PE ratio of -0.88 and a beta of 2.14. The stock has a 50-day moving average price of $16.29 and a 200-day moving average price of $17.18.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $1.34. The company had revenue of $580.37 million for the quarter, compared to analysts’ expectations of $589.83 million. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%. As a group, equities analysts forecast that Bally’s will post -7.26 earnings per share for the current fiscal year.

Bally’s Company Profile

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.