Bally’s (NYSE:BALY) Updates Q1 2021 Earnings Guidance

Bally’s (NYSE:BALY) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of – for the period. The company issued revenue guidance of $185 M-, compared to the consensus revenue estimate of $156.45 million.

BALY stock traded down $1.05 during midday trading on Tuesday, reaching $57.99. The company had a trading volume of 524,320 shares, compared to its average volume of 585,375. Bally’s has a 1 year low of $14.15 and a 1 year high of $75.92. The company has a debt-to-equity ratio of 6.00, a current ratio of 2.03 and a quick ratio of 1.94. The stock has a market capitalization of $2.49 billion, a P/E ratio of -134.47 and a beta of 2.73. The company’s 50 day moving average price is $63.22.

Bally’s (NYSE:BALY) last announced its quarterly earnings results on Wednesday, March 3rd. The company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.60. Bally’s had a negative net margin of 3.21% and a negative return on equity of 1.12%. The company had revenue of $118.10 million for the quarter, compared to analyst estimates of $123.43 million. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. As a group, equities research analysts predict that Bally’s will post -0.49 EPS for the current year.

Several research analysts have recently commented on BALY shares. Truist increased their price target on shares of Bally’s from $65.00 to $80.00 in a research note on Wednesday, February 24th. KeyCorp increased their price target on shares of Bally’s from $65.00 to $70.00 and gave the stock an overweight rating in a research note on Wednesday, April 14th. Zacks Investment Research upgraded shares of Bally’s from a sell rating to a hold rating in a research note on Thursday, February 11th. Jefferies Financial Group initiated coverage on shares of Bally’s in a research note on Tuesday, April 27th. They issued a buy rating and a $66.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on shares of Bally’s from $70.00 to $75.00 and gave the company a buy rating in a research note on Thursday, March 25th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $70.40.

In other Bally’s news, CFO Stephen H. Capp sold 56,172 shares of the firm’s stock in a transaction on Friday, March 26th. The shares were sold at an average price of $69.97, for a total value of $3,930,354.84. Following the sale, the chief financial officer now directly owns 254,510 shares in the company, valued at approximately $17,808,064.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marc A. Crisafulli sold 10,000 shares of the firm’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $74.58, for a total transaction of $745,800.00. Following the completion of the sale, the executive vice president now owns 23,267 shares in the company, valued at $1,735,252.86. The disclosure for this sale can be found here. Insiders sold a total of 975,563 shares of company stock worth $54,696,925 over the last 90 days. Company insiders own 40.34% of the company’s stock.

About Bally’s

Bally's Corporation owns and operates gaming and racing facilities in the United States. Its gaming and racing facilities include slot machines and various casino table games, and restaurant and hotel facilities. The company owns and manages Twin River Casino Hotel in Lincoln, Rhode Island; Tiverton Casino Hotel in Tiverton, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Casino Vicksburg in Vicksburg, Mississippi; Dover Downs Hotel & Casino in Dover, Delaware; Casino KC in Kansas City, Missouri; Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado; Bally's Atlantic City, Atlantic City, New Jersey; Eldorado Resort Casino Shreveport, Shreveport, Los Angeles; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.

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Earnings History and Estimates for Bally`s (NYSE:BALY)

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