Bally's Corporation (NYSE:BALY) Given Average Recommendation of "Reduce" by Analysts

Key Points

• Analysts have an average rating of "Reduce" on Bally's (two sell, three hold) with a one‑year consensus price target of $13.25, following recent downgrades and target cuts from Wall Street Zen, Truist, Stifel and Weiss.
• Bally's shares trade around $11.89 (market cap ~$579M) and the company reported a deeply negative EPS (‑$7.53 last quarter; consensus -7.26 for the year), alongside weak profitability (negative ROE and net margin) and elevated leverage (debt/equity ~1.75).

Bally's Corporation (NYSE:BALY - Get Free Report) has been assigned an average rating of "Reduce" from the five analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $13.25.

A number of research firms have recently commented on BALY. Wall Street Zen cut Bally's from a "hold" rating to a "sell" rating in a research note on Saturday. Truist Financial cut their target price on Bally's from $18.00 to $13.00 and set a "hold" rating on the stock in a research note on Friday, March 27th. Stifel Nicolaus cut their target price on Bally's from $18.00 to $12.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Bally's in a research note on Tuesday, January 27th.

Institutional Investors Weigh In On Bally's

A number of institutional investors have recently modified their holdings of BALY. Geode Capital Management LLC grew its stake in shares of Bally's by 113.1% in the second quarter. Geode Capital Management LLC now owns 164,555 shares of the company's stock worth $1,577,000 after acquiring an additional 87,346 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Bally's during the second quarter valued at $33,000. New York State Common Retirement Fund purchased a new stake in shares of Bally's during the second quarter valued at $97,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Bally's during the second quarter valued at $38,000. Finally, Bank of America Corp DE boosted its position in shares of Bally's by 2,087.9% during the second quarter. Bank of America Corp DE now owns 7,942 shares of the company's stock valued at $76,000 after buying an additional 7,579 shares during the last quarter. 70.41% of the stock is owned by hedge funds and other institutional investors.

Bally's Price Performance

Shares of BALY stock opened at $11.89 on Friday. The stock has a market cap of $579.27 million, a price-to-earnings ratio of -2.18 and a beta of 1.55. The business's fifty day moving average is $12.48 and its 200 day moving average is $14.95. Bally's has a twelve month low of $8.45 and a twelve month high of $20.74. The company has a quick ratio of 0.77, a current ratio of 0.80 and a debt-to-equity ratio of 1.75.

Bally's (NYSE:BALY - Get Free Report) last released its earnings results on Saturday, January 31st. The company reported ($7.53) EPS for the quarter. Bally's had a negative return on equity of 63.15% and a negative net margin of 26.39%.The company had revenue of $746.25 million during the quarter. Research analysts expect that Bally's will post -7.26 EPS for the current fiscal year.

About Bally's

Bally's Corporation is an integrated entertainment company engaged in the ownership, development and operation of land‐based casinos, sports betting venues and online gaming platforms. The company leverages the iconic Bally's brand under a long‐term license to provide gaming and hospitality services across multiple channels, including retail casinos, mobile sports wagering and interactive casino games.

The company's portfolio spans gaming properties in key U.S. jurisdictions such as Rhode Island, Colorado, New Jersey, Mississippi, Iowa, Indiana, Pennsylvania and Nevada.

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