Bowlero Corp. (NYSE:BOWL) Plans $0.06 Quarterly Dividend

Bowlero Corp. (NYSE:BOWL) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, May 24th will be paid a dividend of 0.055 per share on Friday, June 7th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 23rd.

Bowlero has a dividend payout ratio of 59.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Bowlero to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 56.4%.

Bowlero Stock Down 1.8 %

Shares of BOWL traded down $0.20 on Wednesday, reaching $11.07. The stock had a trading volume of 63,837 shares, compared to its average volume of 1,074,907. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 62.72 and a beta of 0.57. The company has a 50-day simple moving average of $12.69 and a 200-day simple moving average of $12.15. Bowlero has a 12-month low of $8.85 and a 12-month high of $15.47.

Bowlero (NYSE:BOWL) last announced its quarterly earnings data on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). Bowlero had a return on equity of 98.75% and a net margin of 6.33%. The firm had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $300.46 million. Sell-side analysts predict that Bowlero will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

BOWL has been the topic of several research analyst reports. B. Riley lowered their price target on Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday. Roth Mkm cut their target price on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus reduced their price objective on Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday. Canaccord Genuity Group decreased their target price on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Oppenheimer lowered their target price on shares of Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Bowlero presently has an average rating of “Moderate Buy” and an average target price of $16.57.

Insiders Place Their Bets

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total value of $1,123,998.96. Following the transaction, the director now owns 1,040,204 shares in the company, valued at $13,397,827.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 56.54% of the stock is owned by company insiders.

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.