A share price of Ballys Corporation [BALY] is currently trading at $13.32, down -1.04%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The BALY shares have gain 25.42% over the last week, with a monthly amount glided 21.20%, and seem to be holding up well over a long-time horizon.
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On 12, March 2024, Bally’s Forms Special Committee to Evaluate Preliminary, Non-Binding Acquisition Proposal by Standard General. In a post published today on Yahoo Finance, The Board of Directors of Bally’s Corporation (NYSE: BALY) today announced that it has formed a special committee of independent and disinterested directors that is authorized, among other things, to evaluate the preliminary, non-binding proposal, dated March 11, 2024, by Standard General to acquire all of the outstanding shares of Bally’s that it does not already own for $15.00 in cash per share, as well as any potential strategic alternatives to the proposal.
From an analyst’s perspective:
Ballys Corporation [NYSE: BALY] stock has seen the most recent analyst activity on January 17, 2024, when Macquarie downgraded its rating to a Neutral. Previously, Wells Fargo downgraded its rating to Underweight on January 05, 2024, and kept the price target unchanged to $10. On November 02, 2022, downgrade downgraded it’s rating to Hold and revised its price target to $25 on the stock. Deutsche Bank started tracking the stock assigning a Hold rating and suggested a price target of $23 on October 06, 2022. Barclays initiated its recommendation with a Equal Weight and recommended $21 as its price target on June 29, 2022. In a note dated March 03, 2022, KeyBanc Capital Markets downgraded an Sector Weight rating on this stock.
Ballys Corporation experienced fluctuations in its stock price throughout the past year between $7.28 and $19.78. Currently, Wall Street analysts expect the stock to reach $30.5 within the next 12 months. Ballys Corporation [NYSE: BALY] shares were valued at $13.32 at the most recent close of the market. An investor can expect a potential return of 128.98% based on the average BALY price forecast.
Analyzing the BALY fundamentals
Trailing Twelve Months sales for Ballys Corporation [NYSE:BALY] were 2.45B which represents 6.07% growth. Gross Profit Margin for this corporation currently stands at 0.5% with Operating Profit Margin at -0.05%, Pretax Profit Margin comes in at -0.07%, and Net Profit Margin reading is -0.07%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.19 and Total Capital is -0.02. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of5.85.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 13.12 points at the first support level, and at 12.91 for the second support level. However, for the 1st resistance point, the stock is sitting at 13.55, and for the 2nd resistance point, it is at 13.77.
Ballys Corporation [BALY] reported earnings per share of -$5.11 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.53/share, meaning a difference of -$4.58 and a surprise factor of -864.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$1.15 per share as compared to estimates of -$0.09 per share, a difference of -$1.06 representing a surprise of -1,177.80%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Ballys Corporation [NYSE:BALY] is 0.65. Also, the Quick Ratio is 0.64, while the Cash Ratio stands at 0.36. Considering the valuation of this stock, the price to sales ratio is 0.25, the price to book ratio is 0.84.
Transactions by insiders
Recent insider trading involved ROLLINS JEFFREY W, Director, that happened on Nov 09 ’23 when 5000.0 shares were purchased. Director, PATEL JAYMIN B completed a deal on Nov 06 ’23 to buy 10000.0 shares. Meanwhile, Director Downey Terrence bought 5800.0 shares on Nov 06 ’23.
