Bowlero Corp. (NYSE:BOWL) Given Average Recommendation of “Moderate Buy” by Brokerages

Bowlero Corp. (NYSE:BOWL) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $15.89.

A number of research analysts have issued reports on BOWL shares. JPMorgan Chase & Co. cut their price objective on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Canaccord Genuity Group restated a “buy” rating and set a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. Truist Financial initiated coverage on Bowlero in a report on Tuesday, December 10th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Piper Sandler assumed coverage on shares of Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price objective for the company.

Bowlero Stock Performance

Bowlero stock opened at $9.97 on Tuesday. Bowlero has a 52 week low of $9.70 and a 52 week high of $15.47. The firm has a market capitalization of $1.46 billion, a PE ratio of -16.34 and a beta of 0.70. The business’s 50-day simple moving average is $11.11 and its 200-day simple moving average is $11.61.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned ($0.10) EPS. Research analysts forecast that Bowlero will post 0.45 earnings per share for the current year.

Bowlero Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, November 22nd. Bowlero’s payout ratio is presently -36.07%.

Institutional Investors Weigh In On Bowlero

A number of hedge funds and other institutional investors have recently modified their holdings of BOWL. Barclays PLC raised its holdings in Bowlero by 22.6% in the 3rd quarter. Barclays PLC now owns 7,807 shares of the company’s stock valued at $91,000 after acquiring an additional 1,439 shares in the last quarter. Centiva Capital LP bought a new stake in Bowlero during the third quarter worth about $207,000. Victory Capital Management Inc. increased its holdings in Bowlero by 13.1% in the 3rd quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after buying an additional 3,835 shares during the period. Quest Partners LLC raised its position in shares of Bowlero by 3,311,100.0% in the 3rd quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock valued at $389,000 after buying an additional 33,111 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Bowlero during the 2nd quarter worth approximately $411,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.