Bally's (NYSE:BALY) Stock Price Down 0.5% - Should You Sell?

Key Points

• Bally’s shares fell 0.5% to approximately $13.45, with trading volume down 44% from its average.
• Analyst sentiment is cautious: the stock carries an average “Reduce” rating, with three Holds and two Sells, and an average price target of $11.75—below its recent trading price.
• Bally’s reported a quarterly loss of $2.41 per share, significantly missing estimates, while maintaining negative margins and return on equity; analysts expect a full-year loss of $9.36 per share.

Shares of Bally's Corporation (NYSE:BALY - Get Free Report) traded down 0.5% during trading on Monday. The stock traded as low as $13.11 and last traded at $13.4470. Approximately 50,688 shares traded hands during trading, a decline of 44% from the average daily volume of 90,936 shares. The stock had previously closed at $13.52.

Analysts Set New Price Targets

BALY has been the topic of several research analyst reports. Wall Street Zen cut shares of Bally's from a "hold" rating to a "sell" rating in a research report on Sunday, August 23rd. Truist Financial reduced their target price on Bally's from $15.00 to $10.00 and set a "hold" rating on the stock in a report on Wednesday, August 19th. Barclays lowered their target price on Bally's from $8.00 to $7.00 and set an "underweight" rating for the company in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded Bally's from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, October 28th. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $11.75.

Bally's Price Performance

The firm has a market cap of $678.67 million, a PE ratio of -1.98 and a beta of 1.74. The firm's fifty day simple moving average is $12.01 and its two-hundred day simple moving average is $12.95. 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 released its 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). Bally's had a negative net margin of 25.83% and a negative return on equity of 40.97%. The business had revenue of $792.23 million for the quarter, compared to the consensus estimate of $789.89 million. As a group, research analysts expect that Bally's Corporation will post -9.36 EPS for the current year.

About Bally's

Bally's Corporation is a gaming, hospitality and entertainment company that owns and operates casinos, resorts and racetracks in the United States. Its properties offer casino gaming, hotel accommodations, dining, entertainment, meeting facilities and related amenities. The company serves regional gaming markets across multiple U.S. states and also has an international presence through its operations in the United Kingdom.

Bally's also operates digital gaming businesses, including online sports betting and iGaming services under the Bally Bet and Bally Casino brands, where permitted by local regulations.

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