Bally’s Co. (NYSE:BALY) Expected to Post Earnings of $0.30 Per Share

Analysts expect that Bally’s Co. (NYSE:BALYGet Rating) will report earnings per share (EPS) of $0.30 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Bally’s’ earnings, with estimates ranging from $0.17 to $0.50. Bally’s reported earnings per share of $0.48 in the same quarter last year, which would suggest a negative year over year growth rate of 37.5%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Bally’s will report full year earnings of $0.96 per share for the current financial year, with EPS estimates ranging from $0.68 to $1.70. For the next fiscal year, analysts anticipate that the business will report earnings of $1.41 per share, with EPS estimates ranging from $0.61 to $2.63. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Bally’s.

Bally’s (NYSE:BALYGet Rating) last announced its earnings results on Thursday, May 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.46. The firm had revenue of $548.30 million for the quarter, compared to analysts’ expectations of $573.92 million. Bally’s had a negative net margin of 3.53% and a positive return on equity of 1.10%. The business’s revenue was up 185.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS.

A number of equities analysts have recently issued reports on the stock. Cowen dropped their price objective on shares of Bally’s from $75.00 to $58.00 in a research note on Friday, February 25th. Jefferies Financial Group downgraded shares of Bally’s from a “buy” rating to a “hold” rating and dropped their price objective for the company from $54.00 to $38.00 in a research note on Monday, February 28th. Stifel Nicolaus dropped their price objective on shares of Bally’s from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. Truist Financial dropped their price objective on shares of Bally’s from $53.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, April 19th. Finally, Zacks Investment Research cut shares of Bally’s from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $49.63.

Shares of NYSE:BALY opened at $23.90 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -32.30 and a beta of 1.99. The firm’s 50-day moving average is $28.62 and its 200 day moving average is $33.89. Bally’s has a 12 month low of $21.25 and a 12 month high of $59.64.

A number of hedge funds have recently added to or reduced their stakes in BALY. Morgan Stanley grew its position in Bally’s by 15,678.1% during the second quarter. Morgan Stanley now owns 662,365 shares of the company’s stock valued at $35,839,000 after buying an additional 658,167 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Bally’s by 4.4% in the third quarter. Principal Financial Group Inc. now owns 33,683 shares of the company’s stock worth $1,689,000 after buying an additional 1,431 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of Bally’s by 25.3% in the third quarter. Teacher Retirement System of Texas now owns 5,183 shares of the company’s stock worth $260,000 after buying an additional 1,047 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Bally’s by 56.9% in the third quarter. Citigroup Inc. now owns 4,301 shares of the company’s stock worth $216,000 after buying an additional 1,559 shares in the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new position in shares of Bally’s in the third quarter worth about $336,000. Institutional investors own 72.98% of the company’s stock.

Bally’s Company Profile (Get Rating)

Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games.

Further Reading

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

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