Brokerages Set Bowlero Corp. (NYSE:BOWL) PT at $15.88

Bowlero Corp. (NYSE:BOWL) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $15.88.

A number of brokerages have issued reports on BOWL. Canaccord Genuity Group reissued a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. Piper Sandler started coverage on shares of Bowlero in a report on Monday, October 28th. They set a “neutral” rating and a $12.00 price objective for the company. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut 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. Finally, B. Riley reissued a “buy” rating and set a $17.00 price objective on shares of Bowlero in a report on Tuesday, September 3rd.

Bowlero Trading Up 5.1 %

Shares of BOWL opened at $12.09 on Thursday. The stock has a market capitalization of $1.78 billion, a P/E ratio of -19.82 and a beta of 0.62. Bowlero has a 12 month low of $9.70 and a 12 month high of $15.47. The firm’s fifty day simple moving average is $11.52 and its two-hundred day simple moving average is $12.18.

Bowlero (NYSE:BOWL) last issued its earnings results on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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 net margin of 6.63% and a negative return on equity of 31.58%. During the same quarter in the previous year, the firm posted ($0.10) EPS. As a group, research analysts predict that Bowlero will post 0.4 EPS for the current fiscal year.

Bowlero Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, November 22nd. Bowlero’s dividend payout ratio (DPR) is -36.07%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. King Luther Capital Management Corp boosted its holdings in Bowlero by 51.0% during the third quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock valued at $4,181,000 after acquiring an additional 120,215 shares during the period. Quest Partners LLC lifted its holdings in Bowlero by 3,311,100.0% during the third quarter. Quest Partners LLC now owns 33,112 shares of the company’s stock worth $389,000 after acquiring an additional 33,111 shares in the last quarter. Victory Capital Management Inc. lifted its position in Bowlero by 13.1% in the 3rd quarter. Victory Capital Management Inc. now owns 33,099 shares of the company’s stock valued at $389,000 after acquiring an additional 3,835 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Bowlero by 201.2% during the 2nd quarter. Squarepoint Ops LLC now owns 82,803 shares of the company’s stock worth $1,200,000 after acquiring an additional 164,603 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Bowlero by 101.5% in the 2nd quarter. Marshall Wace LLP now owns 363,784 shares of the company’s stock valued at $5,271,000 after acquiring an additional 183,252 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

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.