FY2021 EPS Estimates for Bally’s Co. Decreased by Truist Securities (NYSE:BALY)

Bally’s Co. (NYSE:BALY) – Equities researchers at Truist Securities reduced their FY2021 EPS estimates for Bally’s in a research report issued on Thursday, January 13th. Truist Securities analyst B. Jonas now forecasts that the company will earn $1.24 per share for the year, down from their previous forecast of $1.31. Truist Securities has a “Buy” rating and a $55.00 price target on the stock. Truist Securities also issued estimates for Bally’s’ Q4 2021 earnings at $0.24 EPS, Q2 2022 earnings at $0.47 EPS and Q3 2022 earnings at $0.18 EPS.

BALY has been the subject of several other reports. Truist cut their price objective on Bally’s from $80.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday. Cowen upgraded Bally’s from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Tuesday, October 26th. The Goldman Sachs Group began coverage on Bally’s in a research report on Wednesday, October 27th. They issued a “neutral” rating and a $52.00 price objective for the company. Zacks Investment Research upgraded Bally’s from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 4th. Finally, KeyCorp reduced their price objective on Bally’s from $70.00 to $65.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Bally’s presently has an average rating of “Buy” and a consensus price target of $62.22.

NYSE BALY opened at $33.66 on Friday. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 23.87 and a beta of 2.31. Bally’s has a twelve month low of $32.61 and a twelve month high of $75.92. The company has a current ratio of 8.29, a quick ratio of 8.24 and a debt-to-equity ratio of 1.94. The stock has a 50-day moving average of $39.01 and a 200 day moving average of $45.61.

Bally’s (NYSE:BALY) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.81). The firm had revenue of $314.78 million for the quarter, compared to analyst estimates of $315.58 million. Bally’s had a return on equity of 5.98% and a net margin of 7.14%. The business’s revenue was up 169.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.32 EPS.

In other Bally’s news, Director Terrence Downey acquired 1,000 shares of the stock in a transaction that occurred on Friday, November 5th. The stock was acquired at an average price of $45.00 per share, with a total value of $45,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robeson Reeves bought 5,750 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was purchased at an average price of $45.00 per share, with a total value of $258,750.00. The disclosure for this purchase can be found here. Insiders have bought a total of 12,250 shares of company stock valued at $550,260 over the last three months. Corporate insiders own 40.34% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Long Pond Capital LP purchased a new stake in Bally’s in the 2nd quarter worth approximately $115,773,000. Price T Rowe Associates Inc. MD acquired a new position in Bally’s in the 2nd quarter valued at $61,804,000. Paulson & CO. Inc. acquired a new position in Bally’s in the 2nd quarter valued at $54,110,000. Vaughan Nelson Investment Management L.P. bought a new stake in Bally’s in the 4th quarter valued at $35,294,000. Finally, BlackRock Inc. boosted its holdings in Bally’s by 61.0% in the 2nd quarter. BlackRock Inc. now owns 2,024,981 shares of the company’s stock valued at $109,571,000 after purchasing an additional 767,194 shares during the period. Institutional investors and hedge funds own 82.57% of the company’s stock.

About Bally’s

Bally’s Corp. engages in the business of casino hotels and horse racetrack. Its properties include Twin River Casino Hotel, Hard Rock Hotel and Casino Biloxi, Tiverton Casino Hotel, Dover Downs, Arapahoe Park, Mardi Gras Casino, Golden Gates Casino, Golden Gulch Casino, Casino KC, Casino Vicksburg, Bally’s Atlantic City, and Eldorado Resort casino Shreveport.

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