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

Shares of Bowlero Corp. (NYSE:BOWL) have been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $15.89.

Several equities analysts recently commented on BOWL shares. Canaccord Genuity Group reissued a “buy” rating and set a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. Truist Financial assumed coverage on Bowlero in a research note on Tuesday, December 10th. They issued a “buy” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Finally, Piper Sandler started coverage on Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 price target for the company.

Institutional Trading of Bowlero

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

Bowlero Price Performance

Shares of NYSE BOWL opened at $10.18 on Tuesday. The company has a 50-day simple moving average of $10.98 and a 200-day simple moving average of $11.50. The company has a market cap of $1.50 billion, a PE ratio of -16.69 and a beta of 0.70. Bowlero has a 12 month low of $9.70 and a 12 month high of $15.47.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.13 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 the consensus estimate of $249.42 million. During the same quarter in the prior year, the company posted ($0.10) EPS. On average, analysts anticipate that Bowlero will post 0.45 EPS for the current year.

Bowlero Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.22 annualized dividend and a yield of 2.16%. 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.