Bally’s Co. (NYSE:BALY), a prominent gaming, hospitality, and entertainment company operating in the United States, has received an average recommendation of “Hold” from six ratings firms currently covering the stock, according to a report by Bloomberg Ratings. Among these firms, four equities research analysts have rated the stock as a hold, while two analysts have given it a buy rating. Analysts who have issued reports on the stock in the last year have set an average twelve-month price target of $23.63.
On Wednesday, September 13th, shares of BALY opened at $15.31. The stock has shown a fifty-day simple moving average of $15.48 and a two-hundred-day simple moving average of $16.43. In terms of financial ratios, the company boasts a debt-to-equity ratio of 3.19 and current and quick ratios of 0.78 and 0.76 respectively. With a market capitalization of $698.58 million and a price-to-earnings ratio of -2.51, its beta stands at 1.92. Over the past year, Bally’s lowest share price was recorded at $13.09 while it reached its highest point at $25.75.
Bally’s Corporation operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive segments.The company offers various physical and interactive entertainment options including traditional casino games such as iCasino, online bingo games, sportsbooks,daily fantasy sports,and free-to-play games.
On Thursday, August 3rd,Bally’s presented its quarterly earnings results reporting ($0.25) EPS for the quarter which fell short by ($0.09) compared to the consensus estimate of ($0.16). The company generated revenue amounting to $606 million during this quarter in comparison to analyst expectations of $613 million.The negative net margin stood at 14.16% and the negative return on equity was 7.85% for the company. Analysts anticipate that Bally’s will report -$1.18 earnings per share for the current fiscal year.
In conclusion, with a “Hold” recommendation from analysts, Bally’s Co.(NYSE:BALY) remains an intriguing option in the gaming, hospitality, and entertainment industry. The company operates through various segments catering to physical and interactive entertainment experiences which include casinos and resorts,games,and online gaming. Investors, however, should closely monitor the stock’s performance as it navigates through its quarterly earnings outlook along with market developments in this sector.
Updated on: 02/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Sell
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Sell
2:00 PM (UTC)
Date:28 November, 2023
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Assessing the Opinions and Actions Surrounding Bally’s Corporation (BALY)
In recent months, several research firms have shared their thoughts on Bally’s Corporation (BALY), a prominent player in the entertainment and casino industry. One such firm is TD Cowen, which recently revised its price objective for BALY from $35.00 to $30.00 while maintaining an “outperform” rating on the stock. The change came as part of an extensive research note released on Wednesday, August 16th.
Similarly, Jefferies Financial Group also adjusted its price objective for BALY during that period. Their revised target was set at $18.00, down from the previous estimate of $22.00. This research note, published on Tuesday, May 23rd, reflects the firm’s assessment of Bally’s current market position.
Another notable firm that commented on Bally’s is Barclays. Revealing their views in a research note released on Friday, August 4th, Barclays reduced its price objective from $21.00 to $20.00 while maintaining an “equal weight” rating. This adjustment reflects the evolving dynamics of Bally’s stock and its potential performance within the market.
While there has been much debate among research firms about Bally’s future prospects, it is important to consider the actions taken by institutional investors and hedge funds with regards to their positions in the company. Notable figures include Garde Capital Inc., a firm that acquired a new stake in Bally’s during the second quarter with an estimated value of approximately $124,000.
Comerica Bank also made a strategic move by purchasing shares of Bally’s during the second quarter valued at around $740,000. Similarly, Wells Fargo & Company MN saw fit to increase its holdings in Bally’s by over 60% during this period, amassing approximately 14,031 shares worth around $218,000.
Natixis Advisors L.P., another institutional investor engaged with BALY, increased its holdings in the company by 0.8% during the second quarter. The firm’s ownership of 207,352 shares was valued at approximately $3,226,000 following this acquisition.
Lastly, XTX Topco Ltd significantly expanded its investment portfolio by purchasing shares of Bally’s in the second quarter, amounting to a total value of approximately $428,000. These actions taken by institutional investors and hedge funds indicate a strong belief in Bally’s long-term potential.
As of the most recent data available, institutional investors hold approximately 63.61% of Bally’s outstanding stock. This signifies the confidence placed in the company’s ability to navigate through challenges and capitalize on opportunities within the highly competitive entertainment and casino industry.
It is worth noting that while research firms provide valuable insights into market sentiments, their assessments are not definitive indicators of future performance or stock value. Investors should consider multiple factors and conduct thorough due diligence before making any investment decisions related to Bally’s Corporation or any other company in this sector.
In conclusion, as research firms continue to evaluate and share their opinions on Bally’s Corporation (BALY), we see varying price objectives and ratings emerge from these assessments. Meanwhile, institutional investors and hedge funds have made calculated moves regarding their positions in this company. Observing these dynamics provides a comprehensive view of Bally’s current market standing. Potential investors should undertake careful analysis and consult with financial advisors when considering investing in BALY or any industry-related stocks.