Bally’s Co. (NYSE:BALY) Given Consensus Rating of “Hold” by Brokerages

Shares of Bally’s Co. (NYSE:BALY) have been assigned an average rating of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $17.14.

A number of equities analysts have weighed in on BALY shares. Truist Financial reissued a “hold” rating and set a $18.25 price objective (up previously from $16.00) on shares of Bally’s in a research note on Friday, July 26th. Stifel Nicolaus lifted their target price on Bally’s from $14.00 to $18.25 and gave the company a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded Bally’s from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $11.00 to $18.25 in a research report on Monday, July 29th. Jefferies Financial Group lifted their target price on Bally’s from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, TD Cowen restated a “hold” rating and issued a $18.25 target price (up previously from $15.00) on shares of Bally’s in a research report on Friday, July 26th.

Institutional Investors Weigh In On Bally’s

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Bally’s in the 3rd quarter valued at $153,000. Quest Partners LLC purchased a new stake in shares of Bally’s in the 2nd quarter valued at $131,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of Bally’s in the 2nd quarter valued at $217,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Bally’s by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock valued at $281,000 after buying an additional 1,394 shares during the period. Finally, PEAK6 Investments LLC increased its holdings in Bally’s by 20.2% during the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after purchasing an additional 4,446 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Stock Performance

Shares of NYSE:BALY opened at $17.50 on Thursday. The business’s 50 day moving average price is $17.24 and its 200-day moving average price is $14.64. The firm has a market capitalization of $711.03 million, a PE ratio of -1.58 and a beta of 2.08. The company has a debt-to-equity ratio of 9.28, a current ratio of 0.60 and a quick ratio of 0.58. Bally’s has a 1 year low of $7.28 and a 1 year high of $18.00.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($1.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.47) by $0.23. The company had revenue of $621.66 million for the quarter, compared to analyst estimates of $641.17 million. Bally’s had a negative return on equity of 51.13% and a negative net margin of 22.52%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.25) earnings per share. As a group, equities research analysts expect that Bally’s will post -5.32 earnings per share for the current fiscal year.

About Bally’s

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.