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

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

Bally’s Stock Up 0.2 %

Shares of NYSE BALY traded up $0.02 during mid-day trading on Friday, reaching $13.02. The company had a trading volume of 361,389 shares, compared to its average volume of 464,282. The firm has a 50 day simple moving average of $13.00 and a two-hundred day simple moving average of $11.93. Bally’s has a 52-week low of $7.28 and a 52-week high of $16.96. The company has a current ratio of 0.65, a quick ratio of 0.64 and a debt-to-equity ratio of 5.73. The stock has a market cap of $521.97 million, a P/E ratio of -1.26 and a beta of 2.06.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company restated an “underweight” rating and issued a $10.00 price target on shares of Bally’s in a research note on Friday, January 5th. Macquarie lowered Bally’s from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $12.00 in a research report on Wednesday, January 17th. Stifel Nicolaus boosted their price objective on Bally’s from $11.00 to $14.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Truist Financial raised their target price on shares of Bally’s from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. One equities 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.