Stifel Nicolaus Reiterates Buy Rating for Bally Technologies (BYI)
Bally Technologies (NYSE:BYI)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a research report issued to clients and investors on Friday, Analyst Ratings News reports. They currently have a $87.00 price target on the stock, down from their previous price target of $94.00. Stifel Nicolaus’ price objective indicates a potential upside of 32.60% from the company’s current price.
Shares of Bally Technologies (NYSE:BYI) traded down 7.65% on Friday, hitting $60.59. 871,404 shares of the company’s stock traded hands. Bally Technologies has a one year low of $52.14 and a one year high of $82.67. The stock’s 50-day moving average is $65.15 and its 200-day moving average is $71.02. The company has a market cap of $2.338 billion and a P/E ratio of 19.29.
Bally Technologies (NYSE:BYI) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.10 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.12 by $0.02. The company had revenue of $338.40 million for the quarter, compared to the consensus estimate of $328.80 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 30.6% on a year-over-year basis. On average, analysts predict that Bally Technologies will post $4.39 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. cut their price target on shares of Bally Technologies from $89.00 to $74.00 in a research note on Friday. Separately, analysts at Telsey Advisory Group cut their price target on shares of Bally Technologies from $76.00 to $70.00 in a research note on Wednesday, March 26th. They now have a “not rated” rating on the stock. Finally, analysts at Goldman Sachs downgraded shares of Bally Technologies from a “neutral” rating to a “sell” rating in a research note on Wednesday, March 19th. They now have a $62.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $78.40.
Bally Technologies, Inc (NYSE:BYI) is a global gaming company, which designs, manufactures, operates, and distributes advanced technology-based gaming devices, systems, server-based solutions, custom mobile applications, and interactive applications.
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