Bally's (NYSE:BALY) Shares Up 5.8% - Time to Buy?

Key Points

• Bally’s shares rose 5.8% to $11.18, but trading volume was extremely light at roughly 1,547 shares—98% below the average daily volume.
• Analyst sentiment remains cautious: three analysts rate the stock Hold and two rate it Sell, producing a consensus “Reduce” rating and an average price target of $11.75.
• The company reported a significant quarterly earnings miss, with a loss of $2.41 per share versus the expected $1.08 loss. Bally’s posted negative margins and return on equity, while analysts expect a full-year loss of $9.36 per share.

Bally's Corporation (NYSE:BALY - Get Free Report)'s stock price rose 5.8% during trading on Tuesday . The stock traded as high as $10.65 and last traded at $11.1750. Approximately 1,547 shares changed hands during trading, a decline of 98% from the average daily volume of 80,491 shares. The stock had previously closed at $10.56.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Truist Financial cut their target price on Bally's from $15.00 to $10.00 and set a "hold" rating on the stock in a research note on Wednesday, August 19th. Wall Street Zen cut Bally's from a "hold" rating to a "sell" rating in a report on Sunday, August 23rd. Stifel Nicolaus lifted their price objective on Bally's from $12.00 to $13.00 and gave the stock a "hold" rating in a research report on Tuesday, May 26th. Barclays reduced their target price on Bally's from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 19th. Finally, Weiss Ratings downgraded Bally's from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, September 3rd. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $11.75.

Bally's Price Performance

The company has a market cap of $585.70 million, a PE ratio of -1.69 and a beta of 1.76. The firm's 50-day moving average is $11.65 and its 200-day moving average is $12.33. The company has a quick ratio of 0.85, a current ratio of 0.91 and a debt-to-equity ratio of 2.06.

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

About Bally's

Bally's Corporation is a gaming and entertainment company that operates casinos, resorts and online gaming platforms. Its business includes casino gaming, hotel accommodations, food and beverage, entertainment, and related hospitality services. The company's casino properties offer table games, slot machines, sports betting where permitted, and other amenities designed to attract regional and destination customers.

Bally's operates primarily in the United States, with properties and gaming operations serving markets across several states.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.