Bally’s Co. to Post Q1 2022 Earnings of $0.22 Per Share, Truist Securiti Forecasts (NYSE:BALY)

Bally’s Co. (NYSE:BALY) – Analysts at Truist Securiti issued their Q1 2022 earnings per share estimates for Bally’s in a research note issued to investors on Monday, November 22nd. Truist Securiti analyst B. Jonas anticipates that the company will post earnings of $0.22 per share for the quarter. Truist Securiti also issued estimates for Bally’s’ Q3 2022 earnings at $0.28 EPS.

BALY has been the topic of several other research reports. Cowen raised Bally’s from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Tuesday, October 26th. The Goldman Sachs Group initiated coverage on Bally’s in a report on Wednesday, October 27th. They set a “neutral” rating and a $52.00 price target on the stock. Zacks Investment Research downgraded shares of Bally’s from a “hold” rating to a “strong sell” rating in a research report on Tuesday. KeyCorp reduced their price objective on shares of Bally’s from $70.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, November 9th. Finally, Wells Fargo & Company assumed coverage on shares of Bally’s in a research report on Tuesday, September 14th. They set an “equal weight” rating and a $54.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bally’s presently has an average rating of “Buy” and a consensus price target of $65.67.

NYSE:BALY opened at $41.05 on Wednesday. The business’s fifty day moving average price is $47.94 and its 200 day moving average price is $49.99. The firm has a market capitalization of $2.23 billion, a PE ratio of 29.11 and a beta of 2.30. Bally’s has a 12 month low of $39.44 and a 12 month high of $75.92. The company has a debt-to-equity ratio of 1.94, a current ratio of 8.29 and a quick ratio of 8.24.

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

In related news, insider Robeson Reeves acquired 5,750 shares of the company’s stock in a transaction on Friday, November 5th. The shares were purchased at an average price of $45.00 per share, for a total transaction of $258,750.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Terrence Downey bought 1,000 shares of the stock in a transaction that occurred on Friday, November 5th. The stock was purchased at an average price of $45.00 per share, for a total transaction of $45,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 12,250 shares of company stock valued at $550,260. Insiders own 39.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Paulson & CO. Inc. acquired a new stake in Bally’s in the 2nd quarter valued at about $54,110,000. Man Group plc lifted its stake in Bally’s by 12.3% in the second quarter. Man Group plc now owns 976,143 shares of the company’s stock valued at $52,819,000 after buying an additional 106,705 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in Bally’s by 100.9% in the second quarter. Kornitzer Capital Management Inc. KS now owns 351,245 shares of the company’s stock valued at $19,006,000 after buying an additional 176,385 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Bally’s by 181.4% in the second quarter. Advisor Group Holdings Inc. now owns 1,227 shares of the company’s stock worth $66,000 after purchasing an additional 791 shares in the last quarter. Finally, Sycale Advisors NY LLC bought a new stake in shares of Bally’s in the second quarter worth $14,996,000.

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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Earnings History and Estimates for Bally's (NYSE:BALY)

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