Zacks: Brokerages Anticipate Bally’s Co. (NYSE:BALY) Will Post Earnings of -$0.22 Per Share

Analysts expect that Bally’s Co. (NYSE:BALY – Get Rating) will announce earnings of ($0.22) per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Bally’s’ earnings. The lowest EPS estimate is ($0.48) and the highest is $0.45. Bally’s reported earnings per share of $0.28 during the same quarter last year, which indicates a negative year over year growth rate of 178.6%. The company is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Bally’s will report full-year earnings of ($0.29) per share for the current year, with EPS estimates ranging from ($1.29) to $2.05. For the next fiscal year, analysts anticipate that the company will post earnings of $0.45 per share, with EPS estimates ranging from ($0.45) to $2.47. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Bally’s.

Bally’s (NYSE:BALY – Get Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($1.87) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($2.33). The company had revenue of $547.60 million for the quarter, compared to analyst estimates of $587.33 million. Bally’s had a negative net margin of 5.43% and a positive return on equity of 3.37%. Bally’s’s revenue was up 363.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share.

Several analysts have recently weighed in on BALY shares. Cowen reduced their price objective on shares of Bally’s from $75.00 to $58.00 in a research report on Friday, February 25th. Jefferies Financial Group cut shares of Bally’s from a “buy” rating to a “hold” rating and dropped their price objective for the company from $54.00 to $38.00 in a research note on Monday, February 28th. Zacks Investment Research cut shares of Bally’s from a “hold” rating to a “strong sell” rating in a research note on Monday, January 17th. Truist Financial lowered their price target on shares of Bally’s from $80.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, January 13th. Finally, Stifel Nicolaus lowered their price objective on shares of Bally’s from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $54.63.

A number of large investors have recently added to or reduced their stakes in the business. Standard General L.P. lifted its holdings in shares of Bally’s by 10.5% during the 4th quarter. Standard General L.P. now owns 11,424,849 shares of the company’s stock worth $434,830,000 after acquiring an additional 1,082,780 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in Bally’s in the fourth quarter valued at approximately $35,294,000. Morgan Stanley raised its holdings in Bally’s by 15,678.1% in the second quarter. Morgan Stanley now owns 662,365 shares of the company’s stock valued at $35,839,000 after buying an additional 658,167 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Bally’s in the fourth quarter valued at approximately $22,285,000. Finally, Invesco Ltd. raised its holdings in Bally’s by 409.2% in the third quarter. Invesco Ltd. now owns 683,910 shares of the company’s stock valued at $34,292,000 after buying an additional 549,592 shares during the period. Institutional investors own 83.64% of the company’s stock.

NYSE BALY traded up $0.89 on Wednesday, hitting $30.02. 13,313 shares of the stock were exchanged, compared to its average volume of 558,225. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 2.12. Bally’s has a fifty-two week low of $26.11 and a fifty-two week high of $62.76. The company has a market cap of $1.63 billion, a PE ratio of -27.99 and a beta of 2.16. The company has a 50-day moving average price of $32.18 and a 200-day moving average price of $37.94.

Bally’s Company Profile (Get Rating)

Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games.

Further Reading