Bally’s (NYSE:BALY) Trading 5.8% Higher – Here’s What Happened

Bally’s Corporation (NYSE:BALY)’s share price traded up 5.8% during mid-day trading on Tuesday . The stock traded as high as $10.65 and last traded at $11.1750. 1,547 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 80,491 shares. The stock had previously closed at $10.56.

Wall Street Analyst Weigh In

BALY has been the topic of several research reports. Truist Financial dropped their price objective on shares of Bally’s from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Wednesday, August 19th. Barclays decreased their target price on shares of Bally’s from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, August 19th. Stifel Nicolaus lifted their target price on shares of Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen cut Bally’s from a “hold” rating to a “sell” rating in a research report on Sunday, August 23rd. Finally, Weiss Ratings downgraded Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 3rd. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Bally’s presently has an average rating of “Reduce” and a consensus target price of $11.75.

Bally’s Trading Up 9.9%

The company has a market cap of $585.70 million, a P/E ratio of -1.69 and a beta of 1.76. The stock’s 50 day moving average is $11.65 and its 200-day moving average is $12.33. The company has a current ratio of 0.91, a quick ratio of 0.85 and a debt-to-equity ratio of 2.06.

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

Bally’s Company Profile

Bally’s Corporation is a gaming and entertainment company that operates casinos, resorts and online gaming platforms. Its business includes casino gaming, hotel accommodations, food and beverage, entertainment, and related hospitality services. The company’s casino properties offer table games, slot machines, sports betting where permitted, and other amenities designed to attract regional and destination customers.

Bally’s operates primarily in the United States, with properties and gaming operations serving markets across several states.