KeyCorp Boosts Bally’s (NYSE:BALY) Price Target to $70.00


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Bally’s (NYSE:BALY) had its price objective increased by stock analysts at KeyCorp from $65.00 to $70.00 in a research note issued on Thursday, The Fly reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 12.89% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Zacks Investment Research raised Bally’s from a “sell” rating to a “hold” rating in a research report on Thursday, February 11th. Macquarie boosted their price target on Bally’s from $52.00 to $61.00 in a research note on Tuesday, January 12th. TheStreet downgraded shares of Bally’s from a “c” rating to a “d+” rating in a report on Thursday, March 4th. Truist increased their price objective on shares of Bally’s from $65.00 to $80.00 in a research report on Wednesday, February 24th. Finally, Stifel Nicolaus boosted their target price on shares of Bally’s from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, March 25th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Bally’s presently has a consensus rating of “Buy” and an average target price of $71.50.

Bally’s stock opened at $62.01 on Thursday. Bally’s has a twelve month low of $10.70 and a twelve month high of $75.92. The company has a debt-to-equity ratio of 6.00, a quick ratio of 1.94 and a current ratio of 2.03. The business has a 50-day simple moving average of $65.13. The company has a market cap of $1.92 billion, a P/E ratio of -144.21 and a beta of 2.73.

Bally’s (NYSE:BALY) last released its quarterly earnings data on Wednesday, March 3rd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.60. Bally’s had a negative return on equity of 1.12% and a negative net margin of 3.21%. The company had revenue of $118.10 million for the quarter, compared to the consensus estimate of $123.43 million. The firm’s revenue was down 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Bally’s will post -0.49 earnings per share for the current year.

In other news, Director General L.P. Standard sold 220,304 shares of the company’s stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $54.50, for a total value of $12,006,568.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen H. Capp sold 56,172 shares of the stock in a transaction on Friday, March 26th. The stock was sold at an average price of $69.97, for a total transaction of $3,930,354.84. Following the completion of the sale, the chief financial officer now owns 254,510 shares in the company, valued at approximately $17,808,064.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 286,777 shares of company stock worth $16,703,543. Company insiders own 40.34% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in Bally’s in the fourth quarter valued at $27,000. ProShare Advisors LLC purchased a new position in Bally’s in the fourth quarter worth approximately $200,000. Citigroup Inc. acquired a new stake in shares of Bally’s during the 4th quarter worth about $204,000. Arizona State Retirement System purchased a new position in shares of Bally’s during the 4th quarter worth approximately $244,000. Finally, Ancora Advisors LLC acquired a new position in Bally’s during the 4th quarter worth about $286,000.

About Bally’s

Bally's Corporation owns and operates gaming and racing facilities in the United States. Its gaming and racing facilities include slot machines and various casino table games, and restaurant and hotel facilities. The company owns and manages Twin River Casino Hotel in Lincoln, Rhode Island; Tiverton Casino Hotel in Tiverton, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Casino Vicksburg in Vicksburg, Mississippi; Dover Downs Hotel & Casino in Dover, Delaware; Casino KC in Kansas City, Missouri; Golden Gates, Golden Gulch, and Mardi Gras casinos in Black Hawk, Colorado; Bally's Atlantic City, Atlantic City, New Jersey; Eldorado Resort Casino Shreveport, Shreveport, Los Angeles; and Arapahoe Park racetrack and 13 off-track betting licenses in Aurora, Colorado.

Read More: Example of operating income, EBIT and EBITDA

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