Bally’s (NYSE:BALY) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of Bally’s (NYSE:BALY) in a report issued on Tuesday, The Fly reports. The brokerage issued an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus increased their price objective on Bally’s from $75.00 to $81.00 and gave the company a buy rating in a research report on Monday, June 28th. Zacks Investment Research upgraded Bally’s from a sell rating to a hold rating in a research report on Tuesday, July 27th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Buy and an average target price of $71.60.

Shares of NYSE BALY opened at $45.09 on Tuesday. The stock has a fifty day moving average price of $48.68 and a two-hundred day moving average price of $55.29. The company has a debt-to-equity ratio of 0.97, a quick ratio of 4.62 and a current ratio of 4.67. The firm has a market cap of $2.01 billion, a P/E ratio of 23.36 and a beta of 2.56. Bally’s has a 1 year low of $21.50 and a 1 year high of $75.92.

Bally’s (NYSE:BALY) last announced its quarterly earnings data on Sunday, August 8th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.38). Bally’s had a net margin of 12.26% and a return on equity of 9.88%. The company had revenue of $267.73 million for the quarter, compared to analyst estimates of $242.22 million. The company’s revenue was up 825.6% on a year-over-year basis. On average, research analysts predict that Bally’s will post 1.81 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of Bally’s in the first quarter valued at $25,000. US Bancorp DE raised its holdings in shares of Bally’s by 194.2% during the first quarter. US Bancorp DE now owns 562 shares of the company’s stock worth $37,000 after acquiring an additional 371 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Bally’s during the second quarter worth $33,000. Lazard Asset Management LLC purchased a new stake in shares of Bally’s during the second quarter worth $42,000. Finally, FORA Capital LLC purchased a new stake in shares of Bally’s during the second quarter worth $50,000. Institutional investors own 89.89% 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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Analyst Recommendations for Bally`s (NYSE:BALY)

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