Brokerages Set Bowlero Corp. (NYSE:BOWL) Target Price at $15.89

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

BOWL has been the subject of a number of analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $18.00 target price on shares of Bowlero in a research note on Monday, September 30th. Truist Financial initiated coverage on shares of Bowlero in a research note on Tuesday, December 10th. They set a “buy” rating and a $16.00 target price for the company. Piper Sandler started coverage on shares of Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 target price for the company. Royal Bank of Canada raised shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in Bowlero by 43.2% during the third quarter. State Street Corp now owns 285,534 shares of the company’s stock valued at $3,352,000 after purchasing an additional 86,083 shares during the period. Systematic Financial Management LP lifted its stake in 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 buying an additional 161,951 shares in the last quarter. King Luther Capital Management Corp lifted its stake in 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 buying an additional 120,215 shares in the last quarter. Marshall Wace LLP lifted its stake in Bowlero by 101.5% in the second quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after buying an additional 183,252 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Bowlero by 3.7% in the third quarter. Stifel Financial Corp now owns 74,969 shares of the company’s stock valued at $880,000 after buying an additional 2,664 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Bowlero Stock Performance

BOWL opened at $9.88 on Tuesday. The company has a 50-day moving average of $11.01 and a 200-day moving average of $11.55. The company has a market capitalization of $1.45 billion, a P/E ratio of -16.20 and a beta of 0.70. Bowlero has a 1-year low of $9.70 and a 1-year high of $15.47.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 previous year, the firm earned ($0.10) EPS. As a group, sell-side analysts expect that Bowlero will post 0.45 earnings per share for the current fiscal year.

Bowlero Dividend Announcement

The firm 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. This represents a $0.22 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, November 22nd. Bowlero’s dividend payout ratio is -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.