Bowlero Corp. (NYSE:BOWL) Receives $15.88 Consensus Price Target from Brokerages

Shares of Bowlero Corp. (NYSE:BOWL) have received an average recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $15.88.

Several analysts recently commented on the stock. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Piper Sandler started coverage on Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $18.00 price objective on shares of Bowlero in a report on Monday, September 30th. B. Riley reissued a “buy” rating and issued a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th.

Institutional Investors Weigh In On Bowlero

Hedge funds have recently modified their holdings of the company. King Luther Capital Management Corp grew its position in shares of Bowlero by 51.0% in the third quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock valued at $4,181,000 after purchasing an additional 120,215 shares during the period. Quest Partners LLC grew its stake in Bowlero by 3,311,100.0% during the third quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock worth $389,000 after buying an additional 33,111 shares during the period. Victory Capital Management Inc. increased its position in shares of Bowlero by 13.1% in the third quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock worth $389,000 after acquiring an additional 3,835 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Bowlero by 201.2% in the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock valued at $1,200,000 after acquiring an additional 164,603 shares during the period. Finally, Marshall Wace LLP boosted its position 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 purchasing an additional 183,252 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Bowlero Price Performance

Bowlero stock opened at $11.50 on Thursday. The business has a 50 day simple moving average of $11.50 and a 200-day simple moving average of $12.16. Bowlero has a 12 month low of $9.70 and a 12 month high of $15.47. The stock has a market capitalization of $1.70 billion, a PE ratio of -18.85 and a beta of 0.62.

Bowlero (NYSE:BOWL) last issued its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.30. The business had revenue of $260.20 million for the quarter, compared to the consensus estimate of $249.42 million. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. As a group, equities research analysts anticipate that Bowlero will post 0.33 EPS for the current year.

Bowlero Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, November 22nd. Bowlero’s payout ratio is -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.