Bally’s Co. (NYSE:BALY) Expected to Announce Quarterly Sales of $186.98 Million

Equities analysts expect Bally’s Co. (NYSE:BALY) to post $186.98 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Bally’s’ earnings, with the highest sales estimate coming in at $188.20 million and the lowest estimate coming in at $185.40 million. Bally’s posted sales of $109.15 million in the same quarter last year, which suggests a positive year-over-year growth rate of 71.3%. The business is expected to report its next quarterly earnings results before the market opens on Monday, May 10th.

According to Zacks, analysts expect that Bally’s will report full-year sales of $894.75 million for the current year, with estimates ranging from $688.75 million to $1.02 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.20 billion, with estimates ranging from $813.56 million to $1.38 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Bally’s.

Bally’s (NYSE:BALY) last posted its quarterly earnings data on Wednesday, March 3rd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.60. Bally’s had a negative return on equity of 1.12% and a negative net margin of 3.21%. The firm had revenue of $118.10 million for the quarter, compared to the consensus estimate of $123.43 million. The company’s revenue for the quarter was down 9.4% compared to the same quarter last year.

Several analysts recently issued reports on the company. TheStreet downgraded Bally’s from a “c” rating to a “d+” rating in a research note on Thursday, March 4th. KeyCorp lifted their target price on Bally’s from $65.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, April 14th. Macquarie raised their price target on Bally’s from $52.00 to $61.00 in a report on Tuesday, January 12th. Zacks Investment Research upgraded Bally’s from a “sell” rating to a “hold” rating in a report on Thursday, February 11th. Finally, Truist raised their price target on Bally’s from $65.00 to $80.00 in a report on Wednesday, February 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Bally’s presently has an average rating of “Buy” and an average price target of $70.40.

BALY traded down $1.05 on Tuesday, hitting $57.99. 524,316 shares of the company’s stock traded hands, compared to its average volume of 585,375. The firm has a 50 day simple moving average of $62.97. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -134.86 and a beta of 2.73. Bally’s has a one year low of $14.15 and a one year high of $75.92. The company has a current ratio of 2.03, a quick ratio of 1.94 and a debt-to-equity ratio of 6.00.

In other news, CFO Stephen H. Capp sold 56,172 shares of Bally’s stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $69.97, for a total value of $3,930,354.84. Following the completion of the transaction, the chief financial officer now owns 254,510 shares in the company, valued at approximately $17,808,064.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder General L.P. Standard sold 909,090 shares of Bally’s stock in a transaction that occurred on Friday, April 16th. The stock was sold at an average price of $55.00, for a total value of $49,999,950.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 975,563 shares of company stock valued at $54,696,925. Company insiders own 40.34% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Standard General L.P. bought a new stake in Bally’s during the 4th quarter valued at $576,212,000. BlackRock Inc. acquired a new position in shares of Bally’s during the fourth quarter valued at approximately $62,760,000. Victory Capital Management Inc. acquired a new stake in shares of Bally’s in the first quarter valued at approximately $34,315,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of Bally’s in the fourth quarter valued at approximately $20,815,000. Finally, Solus Alternative Asset Management LP acquired a new stake in shares of Bally’s in the fourth quarter valued at approximately $17,816,000.

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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