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

Shares of Bowlero Corp. (NYSE:BOWL) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $15.88.

A number of equities research analysts have weighed in on BOWL shares. Royal Bank of Canada raised Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Piper Sandler started coverage on Bowlero in a research note 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 issued a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. B. Riley reissued a “buy” rating and set a $17.00 price objective on shares of Bowlero in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th.

Bowlero Trading Down 4.2 %

Shares of NYSE BOWL opened at $11.46 on Thursday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -18.79 and a beta of 0.62. Bowlero has a one year low of $9.70 and a one year high of $15.47. The business has a fifty day simple moving average of $11.54 and a 200 day simple moving average of $12.18.

Bowlero (NYSE:BOWL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.30. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The company had revenue of $260.20 million during the quarter, compared to analysts’ expectations of $249.42 million. During the same quarter in the prior year, the company posted ($0.10) EPS. On average, research analysts anticipate that Bowlero will post 0.4 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.06%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Bowlero during the 1st quarter worth about $1,636,000. Bleakley Financial Group LLC raised its stake in shares of Bowlero by 52.4% during the first quarter. Bleakley Financial Group LLC now owns 40,971 shares of the company’s stock worth $561,000 after buying an additional 14,081 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Bowlero by 10.8% in the first quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock valued at $38,597,000 after buying an additional 275,525 shares during the period. Bessemer Group Inc. boosted its stake in Bowlero by 12.3% in the first quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock valued at $509,000 after acquiring an additional 4,070 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 978 shares during the period. 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.