Analysts Set Bally’s Co. (NYSE:BALY) Price Target at $17.14

Shares of Bally’s Co. (NYSE:BALY) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $17.14.

Several brokerages have recently commented on BALY. Jefferies Financial Group boosted their price objective on Bally’s from $13.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. JMP Securities reissued a “market perform” rating on shares of Bally’s in a report on Monday, July 15th. Truist Financial reaffirmed a “hold” rating and set a $18.25 price objective (up from $16.00) on shares of Bally’s in a report on Friday, July 26th. TD Cowen reissued a “hold” rating and issued a $18.25 target price (up previously from $15.00) on shares of Bally’s in a research note on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on Bally’s from $14.00 to $18.25 and gave the stock a “hold” rating in a research note on Thursday, August 1st.

Institutional Investors Weigh In On Bally’s

Institutional investors have recently added to or reduced their stakes in the company. Alden Global Capital LLC boosted its holdings in shares of Bally’s by 63.6% during the second quarter. Alden Global Capital LLC now owns 1,425,886 shares of the company’s stock worth $17,068,000 after purchasing an additional 554,263 shares during the period. DRW Securities LLC bought a new stake in shares of Bally’s in the 2nd quarter worth approximately $1,053,000. Whitebox Advisors LLC purchased a new position in shares of Bally’s during the first quarter valued at approximately $1,152,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Bally’s during the second quarter valued at approximately $843,000. Finally, Spirepoint Private Client LLC purchased a new stake in Bally’s in the first quarter worth $697,000. Hedge funds and other institutional investors own 70.41% of the company’s stock.

Bally’s Price Performance

Shares of NYSE:BALY opened at $17.39 on Thursday. The firm has a fifty day moving average price of $17.27 and a two-hundred day moving average price of $14.75. The company has a market cap of $704.03 million, a price-to-earnings ratio of -1.68 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 one year low of $7.28 and a one year high of $18.00.

Bally’s (NYSE:BALY) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($1.24) earnings per share (EPS) 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 the consensus estimate 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 was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) earnings per share. Analysts anticipate that Bally’s will post -5.32 EPS 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.