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

Bowlero Corp. (NYSE:BOWL) has been given an average rating of “Moderate Buy” by the ten research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $15.89.

Several research analysts have recently weighed in on the stock. 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. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price target on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Piper Sandler began coverage on Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price objective on the stock. Finally, Truist Financial initiated coverage on Bowlero in a research report on Tuesday, December 10th. They issued a “buy” rating and a $16.00 price objective for the company.

Bowlero Price Performance

BOWL opened at $10.01 on Friday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -16.41 and a beta of 0.70. The company’s 50 day simple moving average is $11.34 and its two-hundred day simple moving average is $11.96. Bowlero has a 1-year low of $9.70 and a 1-year high of $15.47.

Bowlero (NYSE:BOWL) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.30. The firm had revenue of $260.20 million for the quarter, compared to the consensus estimate of $249.42 million. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. During the same quarter last year, the business posted ($0.10) earnings per share. On average, equities analysts anticipate that Bowlero will post 0.45 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 22nd were given 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 dividend yield of 2.20%. Bowlero’s dividend payout ratio is currently -36.07%.

Institutional Investors Weigh In On Bowlero

Institutional investors and hedge funds have recently modified their holdings of the company. Private Management Group Inc. grew its position in Bowlero by 2.5% in the 2nd quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock valued at $18,698,000 after acquiring an additional 32,076 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Bowlero by 24.0% in the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock valued at $9,839,000 after purchasing an additional 161,951 shares during the period. Portolan Capital Management LLC acquired a new position in shares of Bowlero in the third quarter valued at approximately $8,281,000. Marshall Wace LLP increased its stake in Bowlero by 101.5% during the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock worth $5,271,000 after buying an additional 183,252 shares during the period. Finally, King Luther Capital Management Corp increased its stake in Bowlero by 51.0% during the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock worth $4,181,000 after buying an additional 120,215 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.