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

Shares of Bowlero Corp. (NYSE:BOWL) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.57.

Several brokerages have issued reports on BOWL. Canaccord Genuity Group restated a “buy” rating and set a $18.00 target price on shares of Bowlero in a research report on Monday, September 30th. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a report on Thursday, October 3rd. Finally, B. Riley reiterated a “buy” rating and issued a $17.00 price target on shares of Bowlero in a report on Tuesday, September 3rd.

Institutional Trading of Bowlero

A number of hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of Bowlero by 47.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after purchasing an additional 2,500 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Bowlero by 7.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after purchasing an additional 978 shares in the last quarter. Diversified Trust Co increased its position in shares of Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock worth $325,000 after purchasing an additional 6,700 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Bowlero in the 2nd quarter valued at $392,000. Finally, XTX Topco Ltd acquired a new position in shares of Bowlero in the 2nd quarter valued at $411,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Bowlero Price Performance

Shares of NYSE BOWL opened at $11.81 on Friday. The business’s 50 day moving average is $11.41 and its two-hundred day moving average is $12.35. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The stock has a market capitalization of $1.74 billion, a P/E ratio of -18.17 and a beta of 0.60.

Bowlero (NYSE:BOWL) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The company had revenue of $283.87 million for the quarter, compared to the consensus estimate of $273.33 million. As a group, equities research analysts anticipate that Bowlero will post 0.29 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.055 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.22 dividend on an annualized basis and a yield of 1.86%. Bowlero’s dividend payout ratio is currently -33.85%.

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.