Bowlero Corp. (NYSE:BOWL) Receives $15.89 Average PT from Analysts

Shares of Bowlero Corp. (NYSE:BOWL) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat Ratings 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 1 year price target among brokers that have issued ratings on the stock in the last year is $15.89.

Several brokerages recently issued reports on BOWL. JPMorgan Chase & Co. reduced their target price on Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Truist Financial started coverage on shares of Bowlero in a research report on Tuesday, December 10th. They issued a “buy” rating and a $16.00 price objective for the company. Piper Sandler assumed coverage on shares of Bowlero in a research report on Monday, October 28th. They set a “neutral” rating and a $12.00 target price on the stock. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research note on Monday, September 30th.

Institutional Trading of Bowlero

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC lifted its holdings in Bowlero by 22.6% in the third quarter. Barclays PLC now owns 7,807 shares of the company’s stock valued at $91,000 after acquiring an additional 1,439 shares during the period. Centiva Capital LP purchased a new stake in Bowlero during the third quarter worth $207,000. Victory Capital Management Inc. grew its position in Bowlero by 13.1% during the third quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after buying an additional 3,835 shares during the period. Quest Partners LLC increased its holdings in Bowlero by 3,311,100.0% in the third quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock valued at $389,000 after buying an additional 33,111 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Bowlero in the second quarter worth about $411,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Bowlero Stock Performance

BOWL stock opened at $10.18 on Tuesday. The firm has a 50-day simple moving average of $10.95 and a two-hundred day simple moving average of $11.46. Bowlero has a one year low of $9.70 and a one year high of $15.47. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -16.69 and a beta of 0.70.

Bowlero (NYSE:BOWL) last announced its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.30. The company had revenue of $260.20 million during 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 period last year, the firm earned ($0.10) earnings per share. As a group, equities analysts predict that Bowlero will post 0.45 earnings per share for the current fiscal year.

Bowlero Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.16%. Bowlero’s payout ratio is currently -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.