Bally Technologies (BYI) Announces Quarterly Earnings, Misses Estimates By $0.02 EPS
Bally Technologies (NYSE:BYI) posted its quarterly earnings results on Wednesday. The company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by $0.02, Analyst Ratings.Net reports. The company had revenue of $342.20 million for the quarter, compared to the consensus estimate of $340.80 million.
BYI has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus downgraded shares of Bally Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 6th. They now have a $87.00 price target on the stock. On the ratings front, analysts at Goldman Sachs reiterated a “sell” rating on shares of Bally Technologies in a research note on Tuesday, August 5th. Finally, analysts at BMO Capital Markets downgraded shares of Bally Technologies from an “outperform” rating to a “market perform” rating in a research note on Monday, August 4th. They now have a $83.00 price target on the stock, down previously from $85.00. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $77.24.
Shares of Bally Technologies (NYSE:BYI) traded up 0.23% on Wednesday, hitting $78.00. 629,019 shares of the company’s stock traded hands. Bally Technologies has a 1-year low of $56.50 and a 1-year high of $84.66. The stock has a 50-day moving average of $68.65 and a 200-day moving average of $65.58. The company has a market cap of $3.013 billion and a P/E ratio of 24.59. Bally Technologies also was the recipient of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 1,894,108 shares, a drop of 58.8% from the July 31st total of 4,597,979 shares. Based on an average daily volume of 2,999,513 shares, the short-interest ratio is currently 0.6 days. Approximately 4.9% of the company’s shares are short sold.
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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