Bally’s (NYSE:BALY) Announces Quarterly Earnings Results

Bally’s (NYSE:BALY) issued its quarterly earnings results on Monday. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of ($0.76) by $1.34, Zacks reports. The company had revenue of $580.37 million during the quarter, compared to the consensus estimate of $589.83 million. Bally’s had a negative return on equity of 79.10% and a negative net margin of 30.04%.

Bally’s Stock Performance

NYSE:BALY opened at $16.91 on Wednesday. The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The firm has a 50-day moving average of $16.99 and a two-hundred day moving average of $17.37. The stock has a market cap of $818.44 million, a P/E ratio of -1.12 and a beta of 2.14. Bally’s has a 1-year low of $10.00 and a 1-year high of $23.20.

Analysts Set New Price Targets

BALY has been the subject of several analyst reports. Stifel Nicolaus cut their price target on Bally’s from $17.00 to $14.00 and set a “hold” rating for the company in a report on Thursday, March 6th. Barclays dropped their price objective on Bally’s from $18.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, March 10th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.13.

Bally’s Company Profile

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.