Brokerages Set Bally’s Corporation (NYSE:BALY) Target Price at $11.75

Shares of Bally’s Corporation (NYSE:BALY) have been given a consensus recommendation of “Reduce” by the five analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.75.

BALY has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Bally’s from a “hold” rating to a “sell” rating in a report on Sunday, August 23rd. Weiss Ratings cut shares of Bally’s from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 3rd. Barclays dropped their target price on shares of Bally’s from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 19th. Truist Financial cut their price target 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. Finally, Stifel Nicolaus boosted their price target on shares of Bally’s from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th.

Bally’s Price Performance

Shares of NYSE BALY opened at $10.39 on Wednesday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.91. Bally’s has a fifty-two week low of $8.44 and a fifty-two week high of $20.74. The firm has a market capitalization of $524.38 million, a PE ratio of -1.53 and a beta of 1.76. The stock’s 50-day simple moving average is $11.70 and its 200-day simple moving average is $12.35.

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