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

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

BOWL has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set a $18.00 target price on shares of Bowlero in a research note on Monday, September 30th. B. Riley reissued a “buy” rating and set a $17.00 target price on shares of Bowlero in a research note on Tuesday, September 3rd. Piper Sandler initiated coverage on Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd.

Institutional Trading of Bowlero

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in Bowlero during the 1st quarter worth approximately $1,636,000. Bleakley Financial Group LLC increased its position in Bowlero by 52.4% during the 1st quarter. Bleakley Financial Group LLC now owns 40,971 shares of the company’s stock worth $561,000 after purchasing an additional 14,081 shares during the period. Champlain Investment Partners LLC increased its position in Bowlero by 10.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after purchasing an additional 275,525 shares during the period. Bessemer Group Inc. increased its position in Bowlero by 12.3% during the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock worth $509,000 after purchasing an additional 4,070 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Bowlero by 7.0% during the 1st 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 period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Bowlero Stock Up 0.9 %

NYSE:BOWL opened at $11.72 on Thursday. Bowlero has a 52 week low of $8.85 and a 52 week high of $15.47. The company has a market capitalization of $1.73 billion, a P/E ratio of -19.21 and a beta of 0.62. The stock’s fifty day moving average is $11.47 and its two-hundred day moving average is $12.17.

Bowlero (NYSE:BOWL) last issued its quarterly earnings data 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. Bowlero had a negative return on equity of 34.55% and a negative net margin of 6.63%. The business had revenue of $260.20 million during the quarter, compared to analysts’ expectations of $249.42 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. Sell-side analysts anticipate that Bowlero will post 0.2 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.06%.

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.