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

Shares of Bowlero Corp. (NYSE:BOWL) have received a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $15.88.

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group restated a “buy” rating and issued a $18.00 price target on shares of Bowlero in a report on Monday, September 30th. JPMorgan Chase & Co. lowered their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler assumed coverage on Bowlero in a report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price target on the stock. 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 set a $17.00 target price on shares of Bowlero in a report on Tuesday, September 3rd.

Bowlero Price Performance

BOWL opened at $11.72 on Thursday. The stock has a market cap of $1.73 billion, a P/E ratio of -19.21 and a beta of 0.62. The stock’s 50 day simple moving average is $11.47 and its 200 day simple moving average is $12.17. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47.

Bowlero (NYSE:BOWL) last released its quarterly earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.30. The business had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $249.42 million. Bowlero had a negative return on equity of 34.55% and a negative net margin of 6.63%. During the same quarter in the prior year, the firm posted ($0.10) EPS. Research analysts expect that Bowlero will post 0.2 EPS for the current fiscal year.

Bowlero Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s dividend payout ratio is presently -36.06%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BOWL. Russell Investments Group Ltd. purchased a new position in shares of Bowlero during the 1st quarter worth $1,636,000. Bleakley Financial Group LLC lifted its stake in shares of Bowlero by 52.4% during the 1st quarter. Bleakley Financial Group LLC now owns 40,971 shares of the company’s stock worth $561,000 after purchasing an additional 14,081 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of Bowlero by 10.8% during the 1st quarter. Champlain Investment Partners LLC now owns 2,817,305 shares of the company’s stock worth $38,597,000 after purchasing an additional 275,525 shares during the period. Bessemer Group Inc. lifted its stake in shares of Bowlero by 12.3% during the 1st quarter. Bessemer Group Inc. now owns 37,200 shares of the company’s stock worth $509,000 after purchasing an additional 4,070 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Bowlero by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,953 shares of the company’s stock worth $205,000 after buying an additional 978 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.