Wall Street analysts expect that Bally’s Co. (NYSE:BALY) will post sales of $123.57 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Bally’s’ earnings, with estimates ranging from $121.20 million to $127.20 million. Bally’s posted sales of $130.42 million in the same quarter last year, which suggests a negative year-over-year growth rate of 5.3%. The business is expected to announce its next earnings results before the market opens on Thursday, March 4th.
According to Zacks, analysts expect that Bally’s will report full year sales of $378.25 million for the current financial year, with estimates ranging from $375.90 million to $381.90 million. For the next financial year, analysts forecast that the company will post sales of $875.46 million, with estimates ranging from $645.95 million to $1.02 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Bally’s.
BALY has been the subject of a number of research reports. KeyCorp initiated coverage on Bally’s in a report on Wednesday, January 13th. They issued an “overweight” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded Bally’s from a “sell” rating to a “hold” rating in a report on Thursday, February 11th. Truist increased their price objective on Bally’s from $32.00 to $65.00 in a report on Friday, November 20th. Stifel Nicolaus increased their price objective on Bally’s from $50.00 to $60.00 and gave the stock a “hold” rating in a report on Tuesday, February 9th. Finally, Macquarie increased their price objective on Bally’s from $52.00 to $61.00 in a report on Tuesday, January 12th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $62.75.
Institutional investors have recently added to or reduced their stakes in the stock. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of Bally’s during the fourth quarter valued at $20,815,000. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Bally’s during the fourth quarter valued at $5,886,000. Monarch Partners Asset Management LLC purchased a new stake in shares of Bally’s during the fourth quarter valued at $9,542,000. Brasada Capital Management LP purchased a new stake in shares of Bally’s during the fourth quarter valued at $1,185,000. Finally, Teton Advisors Inc. purchased a new stake in shares of Bally’s during the fourth quarter valued at $2,409,000.
Shares of Bally’s stock traded up $2.46 during midday trading on Tuesday, reaching $62.95. 303,832 shares of the company’s stock traded hands, compared to its average volume of 315,278. The company has a debt-to-equity ratio of 6.00, a quick ratio of 1.94 and a current ratio of 2.03. The company has a market capitalization of $1.92 billion, a P/E ratio of -146.40 and a beta of 2.73. The company’s 50 day moving average is $54.12. Bally’s has a 12 month low of $7.22 and a 12 month high of $63.17.
Bally’s Company Profile
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; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.
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