Bally’s (NYSE:BALY) Releases Earnings Results, Misses Estimates By $2.48 EPS

Bally’s (NYSE:BALY) announced its earnings results on Wednesday. The company reported ($3.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48), Briefing.com reports. The business had revenue of $618.48 million during the quarter, compared to analyst estimates of $625.94 million. Bally’s had a negative net margin of 21.26% and a negative return on equity of 32.28%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.74) earnings per share. Bally’s updated its FY 2024 guidance to EPS.

Bally’s Price Performance

Shares of Bally’s stock traded up $0.02 on Friday, hitting $13.02. The company’s stock had a trading volume of 361,389 shares, compared to its average volume of 464,282. Bally’s has a 52-week low of $7.28 and a 52-week high of $16.96. The company has a quick ratio of 0.64, a current ratio of 0.65 and a debt-to-equity ratio of 5.73. The firm has a fifty day moving average price of $13.00 and a 200-day moving average price of $11.93. The company has a market capitalization of $521.97 million, a P/E ratio of -1.26 and a beta of 2.06.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BALY. Wells Fargo & Company reissued an “underweight” rating and issued a $10.00 price objective on shares of Bally’s in a research note on Friday, January 5th. Stifel Nicolaus boosted their price objective on shares of Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday. Truist Financial boosted their price objective on shares of Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Macquarie cut shares of Bally’s from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $12.00 in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.71.

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.