Bally Technologies Receives New Coverage from Analysts at Buckingham Research (BYI)
Buckingham Research started coverage on shares of Bally Technologies (NYSE:BYI) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $69.00 price target on the stock. Buckingham Research’s target price points to a potential upside of 5.34% from the company’s current price.
Bally Technologies (NYSE:BYI) opened at 65.34 on Friday. Bally Technologies has a 52-week low of $56.11 and a 52-week high of $82.67. The stock’s 50-day moving average is $61.16 and its 200-day moving average is $68.03. The company has a market cap of $2.524 billion and a price-to-earnings ratio of 20.70.
Bally Technologies (NYSE:BYI) last announced its earnings results on Thursday, May 1st. The company reported $1.10 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.93 earnings per share. Bally Technologies’s revenue was up 30.6% compared to the same quarter last year. On average, analysts predict that Bally Technologies will post $4.37 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on BYI. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Bally Technologies in a research note on Monday, June 2nd. They now have a $55.00 price target on the stock, down previously from $58.00. Separately, analysts at Credit Suisse cut their price target on shares of Bally Technologies from $75.00 to $67.00 in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $76.31.
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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