Bowlero Corp. (NYSE:BOWL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Bowlero Corp. (NYSE:BOWL) has been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $15.88.

BOWL has been the topic of a number of research analyst reports. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Piper Sandler started coverage on Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $18.00 price objective on shares of Bowlero in a report on Monday, September 30th. B. Riley restated a “buy” rating and issued a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC raised its stake in Bowlero by 22.6% in the third quarter. Barclays PLC now owns 7,807 shares of the company’s stock valued at $91,000 after purchasing an additional 1,439 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock valued at $205,000 after buying an additional 978 shares in the last quarter. Centiva Capital LP bought a new stake in shares of Bowlero during the 3rd quarter worth approximately $207,000. Summit Securities Group LLC acquired a new stake in shares of Bowlero during the 2nd quarter worth approximately $392,000. Finally, XTX Topco Ltd bought a new position in Bowlero in the second quarter valued at approximately $411,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Bowlero Stock Down 1.3 %

NYSE:BOWL opened at $12.31 on Monday. The stock’s fifty day simple moving average is $11.66 and its 200-day simple moving average is $12.20. The firm has a market capitalization of $1.81 billion, a P/E ratio of -20.18 and a beta of 0.62. Bowlero has a 12-month low of $9.70 and a 12-month high of $15.47.

Bowlero (NYSE:BOWL) last issued its earnings results on Monday, November 4th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.30. The firm had revenue of $260.20 million during the quarter, compared to the consensus estimate of $249.42 million. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. As a group, equities research analysts expect that Bowlero will post 0.45 earnings per share for the current year.

Bowlero Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.79%. The ex-dividend date is Friday, November 22nd. Bowlero’s payout ratio is -36.06%.

Bowlero Company Profile

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.