Bowlero Corp. (NYSE:BOWL) Receives $15.88 Average PT from Brokerages

Bowlero Corp. (NYSE:BOWL - Get Free Report) has been assigned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $15.88.

Several equities analysts have commented on BOWL shares. Royal Bank of Canada upgraded shares of Bowlero to a "moderate buy" rating in a research report on Thursday, October 3rd. B. Riley reissued a "buy" rating and issued a $17.00 price objective on shares of Bowlero in a research note on Tuesday, September 3rd. Canaccord Genuity Group reissued a "buy" rating and set a $18.00 price objective on shares of Bowlero in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their price objective on Bowlero from $16.00 to $15.00 and set an "overweight" rating for the company in a research report on Tuesday, November 5th. Finally, Piper Sandler began coverage on Bowlero in a research note on Monday, October 28th. They issued a "neutral" rating and a $12.00 price target for the company.

Institutional Investors Weigh In On Bowlero

A number of institutional investors have recently added to or reduced their stakes in BOWL. Lisanti Capital Growth LLC purchased a new position in Bowlero in the 2nd quarter worth approximately $2,648,000. King Luther Capital Management Corp raised its holdings in shares of Bowlero by 51.0% during the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company's stock worth $4,181,000 after acquiring an additional 120,215 shares during the period. Marshall Wace LLP boosted its position in shares of Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company's stock valued at $5,271,000 after acquiring an additional 183,252 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Bowlero by 76.9% in the first quarter. Janus Henderson Group PLC now owns 46,617 shares of the company's stock valued at $639,000 after purchasing an additional 20,259 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Bowlero by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company's stock worth $205,000 after purchasing an additional 978 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

Bowlero Stock Up 1.7 %

Shares of BOWL traded up $0.21 during mid-day trading on Monday, hitting $12.52. 806,972 shares of the company's stock traded hands, compared to its average volume of 802,009. Bowlero has a 1 year low of $9.70 and a 1 year high of $15.47. The firm has a market capitalization of $1.84 billion, a P/E ratio of -20.79 and a beta of 0.62. The business's 50-day moving average price is $11.66 and its 200-day moving average price is $12.20.

Bowlero (NYSE:BOWL - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.30. The business had revenue of $260.20 million for the quarter, compared to analysts' expectations of $249.42 million. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. During the same period in the prior year, the firm posted ($0.10) EPS. Sell-side analysts anticipate that Bowlero will post 0.45 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero's dividend payout ratio (DPR) is presently -36.07%.

About Bowlero

Bowlero Corp. operates bowling entertainment centers under the AMF, Bowlmor Lanes, and Bowlero brand names. The company also provides hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. It operates bowling centers in the United States, Mexico, and Canada.