Bally’s (NYSE:BALY) Given New $18.25 Price Target at Stifel Nicolaus

Bally’s (NYSE:BALY) had its price objective boosted by stock analysts at Stifel Nicolaus from $14.00 to $18.25 in a report released on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 5.80% from the company’s previous close.

A number of other brokerages have also recently issued reports on BALY. Wells Fargo & Company raised Bally’s from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $11.00 to $18.25 in a research note on Monday. TD Cowen reiterated a “hold” rating and set a $18.25 target price (up from $15.00) on shares of Bally’s in a report on Friday, July 26th. JMP Securities reiterated a “market perform” rating on shares of Bally’s in a report on Monday, July 15th. Finally, Truist Financial reiterated a “hold” rating and set a $18.25 target price (up from $16.00) on shares of Bally’s in a report on Friday, July 26th. Seven analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $15.83.

Bally’s Trading Up 0.1 %

Shares of NYSE:BALY traded up $0.02 on Thursday, reaching $17.25. 100,818 shares of the company traded hands, compared to its average volume of 476,487. The business’s 50-day simple moving average is $12.72 and its 200 day simple moving average is $12.48. Bally’s has a 52 week low of $7.28 and a 52 week high of $17.44. The stock has a market capitalization of $698.45 million, a P/E ratio of -1.67 and a beta of 2.11. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 8.14.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($3.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.13) by ($2.48). Bally’s had a negative net margin of 21.26% and a negative return on equity of 36.63%. The company had revenue of $618.48 million for the quarter, compared to the consensus estimate of $625.94 million. During the same period last year, the business posted ($0.74) earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Bally’s will post -8.07 EPS for the current fiscal year.

Institutional Trading of Bally’s

Several large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Bally’s by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 101,707 shares of the company’s stock valued at $1,217,000 after acquiring an additional 1,064 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Bally’s by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,132 shares of the company’s stock worth $281,000 after purchasing an additional 1,394 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Bally’s by 100.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,843 shares of the company’s stock worth $54,000 after purchasing an additional 1,926 shares in the last quarter. PEAK6 Investments LLC boosted its position in shares of Bally’s by 20.2% in the 1st quarter. PEAK6 Investments LLC now owns 26,478 shares of the company’s stock worth $369,000 after purchasing an additional 4,446 shares in the last quarter. Finally, Garde Capital Inc. boosted its position in shares of Bally’s by 50.0% in the 4th quarter. Garde Capital Inc. now owns 15,000 shares of the company’s stock worth $209,000 after purchasing an additional 5,000 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

Bally’s Company Profile

Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.