Bowlero Corp. (NYSE:BOWL) to Issue $0.06 Quarterly Dividend

Bowlero Corp. (NYSE:BOWL) declared a quarterly dividend on Monday, November 4th,NASDAQ Dividends reports. Investors of record on Friday, November 22nd will be given a dividend of 0.055 per share on Friday, December 6th. This represents a $0.22 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, November 22nd.

Bowlero has a payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bowlero to earn $0.37 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 59.5%.

Bowlero Price Performance

Shares of BOWL stock opened at $11.59 on Thursday. Bowlero has a fifty-two week low of $9.70 and a fifty-two week high of $15.47. The stock’s 50-day simple moving average is $11.60 and its 200-day simple moving average is $12.16.

Bowlero (NYSE:BOWL) last issued its quarterly 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. The company 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 prior year, the company earned ($0.10) EPS. As a group, equities analysts predict that Bowlero will post 0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. B. Riley reiterated a “buy” rating and set a $17.00 price objective on shares of Bowlero in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their price target on Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. Piper Sandler began coverage on shares of Bowlero in a report on Monday, October 28th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $18.00 price target on shares of Bowlero in a research report on Monday, September 30th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.88.

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.