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

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

Bally’s Trading Up 0.2 %

Shares of NYSE BALY traded up $0.02 during midday trading on Friday, hitting $13.02. 361,389 shares of the company traded hands, compared to its average volume of 464,282. Bally’s has a 12-month low of $7.28 and a 12-month high of $16.96. The firm has a market cap of $521.97 million, a P/E ratio of -1.26 and a beta of 2.06. The stock has a 50-day moving average price of $13.00 and a 200 day moving average price of $11.93. The company has a debt-to-equity ratio of 5.73, a quick ratio of 0.64 and a current ratio of 0.65.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price objective on Bally’s from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Thursday. Wells Fargo & Company reissued an “underweight” rating and set a $10.00 price target on shares of Bally’s in a research report on Friday, January 5th. Macquarie cut shares of Bally’s from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $12.00 in a research report on Wednesday, January 17th. Finally, Truist Financial increased their target price on shares of Bally’s from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.71.

Bally’s Company Profile

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.