Bally’s Co. (NYSE:BALY) Receives $17.13 Consensus Price Target from Brokerages

Bally’s Co. (NYSE:BALY) has earned a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings 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 report on Tuesday, March 18th. Barclays decreased their target price 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 dropped their price target 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.

Bally’s Stock Up 5.8 %

Shares of Bally’s stock opened at $13.21 on Monday. The company has a 50-day simple moving average of $16.29 and a two-hundred day simple moving average of $17.18. Bally’s has a 52-week low of $10.00 and a 52-week high of $18.98. The company has a debt-to-equity ratio of 15.62, a quick ratio of 0.54 and a current ratio of 0.56. The stock has a market capitalization of $640.82 million, a PE ratio of -0.88 and a beta of 2.14.

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, topping analysts’ consensus estimates of ($0.76) by $1.34. Bally’s had a negative net margin of 30.04% and a negative return on equity of 79.10%. The company had revenue of $580.37 million during the quarter, compared to analyst estimates of $589.83 million. On average, analysts anticipate that Bally’s will post -7.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BALY. Point72 DIFC Ltd purchased a new stake in shares of Bally’s during the 3rd quarter valued at about $48,000. BNP Paribas Financial Markets purchased a new position in shares of Bally’s in the fourth quarter worth approximately $58,000. SG Americas Securities LLC grew its position in Bally’s by 7.0% during the fourth quarter. SG Americas Securities LLC now owns 9,493 shares of the company’s stock valued at $170,000 after buying an additional 624 shares during the period. Intech Investment Management LLC purchased a new stake in Bally’s during the fourth quarter valued at approximately $196,000. Finally, Two Sigma Advisers LP bought a new position in Bally’s in the fourth quarter worth approximately $250,000. 70.41% of the stock is owned by hedge funds and other institutional investors.

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.