Bally's (US:BALY) ZACKSยท2024-11-07 00:00Company Performance - Bally's Corporation reported a quarterly loss of $1.99 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.25, and compared to a loss of $1.15 per share a year ago, indicating a substantial earnings surprise of -696% [1] - The company posted revenues of $629.97 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 3.17%, and down from $632.48 million in the same quarter last year [2] - Over the last four quarters, Bally's has only surpassed consensus EPS estimates once, indicating ongoing challenges in meeting market expectations [2] Stock Outlook - Bally's shares have increased approximately 25.5% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.99 on revenues of $629.73 million, and for the current fiscal year, it is -$6.08 on revenues of $2.52 billion [7] - The estimate revisions trend for Bally's is currently unfavorable, resulting in a Zacks Rank 4 (Sell), suggesting that the shares are expected to underperform the market in the near future [6] Industry Context - The Hotels and Motels industry, to which Bally's belongs, is currently ranked in the bottom 12% of over 250 Zacks industries, indicating a challenging environment for companies in this sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment and stock performance [5]