Bally’s Corporation (NYSE:BALY) Stock Now Rated “Reduce” by Sell-Side Analysts

Bally’s Corporation (NYSE:BALY) has received an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $11.75.

Several research analysts have recently commented on the company. Barclays reduced their price target on Bally’s from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Wednesday, August 19th. Weiss Ratings raised Bally’s from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 28th. Truist Financial lowered their target price on Bally’s from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, August 19th. Finally, Wall Street Zen lowered shares of Bally’s from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd.

Bally’s Trading Down 2.6%

Shares of NYSE BALY opened at $12.06 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.91 and a debt-to-equity ratio of 2.06. The business has a fifty day simple moving average of $12.35 and a two-hundred day simple moving average of $12.86. The firm has a market cap of $608.47 million, a PE ratio of -1.77 and a beta of 1.83. Bally’s has a twelve month low of $8.44 and a twelve month high of $19.60.

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

About Bally’s

Bally’s Corporation is a gaming, hospitality and entertainment company that owns and operates casinos, resorts and racetracks in the United States. Its properties offer casino gaming, hotel accommodations, dining, entertainment, meeting facilities and related amenities. The company serves regional gaming markets across multiple U.S. states and also has an international presence through its operations in the United Kingdom.

Bally’s also operates digital gaming businesses, including online sports betting and iGaming services under the Bally Bet and Bally Casino brands, where permitted by local regulations.