Bowlero Corp. (NYSE:BOWL) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Bowlero Corp. (NYSE:BOWL) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $15.88.

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

Bowlero Trading Down 1.3 %

BOWL opened at $12.31 on Monday. The company has a market cap of $1.81 billion, a P/E ratio of -20.18 and a beta of 0.62. The company’s 50 day moving average is $11.66 and its 200-day moving average is $12.20. Bowlero has a 1-year low of $9.70 and a 1-year high of $15.47.

Bowlero (NYSE:BOWL) last posted its 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. Bowlero had a negative net margin of 6.63% and a negative return on equity of 31.58%. The firm had revenue of $260.20 million for the quarter, compared to analysts’ expectations of $249.42 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. On average, equities analysts forecast that Bowlero will post 0.45 EPS for the current year.

Bowlero Dividend Announcement

The business 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 $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s dividend payout ratio (DPR) is currently -36.06%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in 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 buying an additional 978 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Bowlero by 76.9% during the 1st quarter. Janus Henderson Group PLC now owns 46,617 shares of the company’s stock valued at $639,000 after purchasing an additional 20,259 shares during the last quarter. Schwartz Investment Counsel Inc. increased its holdings in Bowlero by 5.2% during the 2nd quarter. Schwartz Investment Counsel Inc. now owns 94,400 shares of the company’s stock worth $1,368,000 after purchasing an additional 4,700 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Bowlero in the second quarter worth approximately $392,000. Finally, Lisanti Capital Growth LLC bought a new position in shares of Bowlero in the second quarter valued at approximately $2,648,000. 68.11% of the stock is owned by institutional investors and hedge funds.

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.