Bally's Corporation (NYSE:BALY) Stock Now Rated "Reduce" by Wall Street Brokerages

Key Points

• Wall Street’s average rating on Bally’s is “Reduce”: Two analysts rate the stock a sell and three recommend holding it, with an average 12-month price target of $11.75.
• Several firms recently lowered their price targets, including Truist Financial to $10 and Barclays to $7; Weiss Ratings and Wall Street Zen also downgraded the shares to sell.
• Bally’s reported a quarterly loss of $2.41 per share, missing estimates by $1.33, despite revenue of $792.23 million. The company continues to show negative profitability metrics, including a 25.83% net margin and analysts’ projected full-year loss of $9.36 per share.

Bally's Corporation (NYSE:BALY - Get Free Report) has been assigned an average recommendation of "Reduce" from the five ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $11.75.

Several equities analysts have commented on the stock. Truist Financial decreased their target price on shares of Bally's from $15.00 to $10.00 and set a "hold" rating on the stock in a report on Wednesday, August 19th. Barclays reduced their price target on shares of Bally's from $8.00 to $7.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 19th. Weiss Ratings cut shares of Bally's from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday. Finally, Wall Street Zen downgraded shares of Bally's from a "hold" rating to a "sell" rating in a research report on Sunday, August 23rd.

Bally's Stock Performance

NYSE:BALY opened at $13.86 on Friday. The stock has a fifty day moving average price of $11.52 and a 200-day moving average price of $12.39. The company has a market cap of $699.36 million, a price-to-earnings ratio of -2.04 and a beta of 1.74. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.91. Bally's has a fifty-two week low of $8.44 and a fifty-two week high of $20.74.

Bally's (NYSE:BALY - Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported ($2.41) EPS for the quarter, missing analysts' consensus estimates of ($1.08) by ($1.33). The company had revenue of $792.23 million during the quarter, compared to the consensus estimate of $789.89 million. Bally's had a negative return on equity of 40.97% and a negative net margin of 25.83%. As a group, equities analysts anticipate that Bally's will post -9.36 EPS for the current fiscal year.

Bally's Company Profile

Bally's Corporation is a gaming, hospitality and entertainment company that owns and operates casinos and resorts in the United States. Its properties typically offer casino gaming, hotel accommodations, dining, live entertainment and other leisure amenities, with locations serving regional and destination markets.

The company also operates online gaming and sports betting businesses through Bally's Interactive. These services include online casino games, sports wagering and related digital entertainment offerings, subject to applicable regulations in the jurisdictions where they are available.

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