Bowlero Corp. (NYSE:BOWL) Receives $15.89 Consensus Price Target from Analysts

Shares of Bowlero Corp. (NYSE:BOWL) have received a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $15.89.

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

Bowlero Price Performance

Shares of BOWL stock opened at $10.78 on Friday. The company has a market cap of $1.58 billion, a PE ratio of -17.67 and a beta of 0.70. Bowlero has a 1 year low of $9.70 and a 1 year high of $15.47. The stock’s 50 day simple moving average is $11.43 and its two-hundred day simple moving average is $12.01.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share 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 business posted ($0.10) earnings per share. Equities research analysts expect that Bowlero will post 0.45 EPS for the current year.

Bowlero Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 22nd were issued a $0.055 dividend. The ex-dividend date was Friday, November 22nd. This represents a $0.22 annualized dividend and a dividend yield of 2.04%. Bowlero’s dividend payout ratio is presently -36.07%.

Hedge Funds Weigh In On Bowlero

Several institutional investors have recently modified their holdings of BOWL. Barclays PLC lifted its holdings in Bowlero by 22.6% during the 3rd quarter. Barclays PLC now owns 7,807 shares of the company’s stock worth $91,000 after buying an additional 1,439 shares during the last quarter. State Street Corp increased its holdings in shares of Bowlero by 43.2% in the third quarter. State Street Corp now owns 285,534 shares of the company’s stock valued at $3,352,000 after purchasing an additional 86,083 shares during the period. Stifel Financial Corp increased its stake in Bowlero by 3.7% in the 3rd quarter. Stifel Financial Corp now owns 74,969 shares of the company’s stock valued at $880,000 after buying an additional 2,664 shares during the period. Systematic Financial Management LP increased its stake in shares of Bowlero by 24.0% during the third quarter. Systematic Financial Management LP now owns 838,090 shares of the company’s stock worth $9,839,000 after acquiring an additional 161,951 shares during the period. Finally, Portolan Capital Management LLC purchased a new position in shares of Bowlero during the 3rd quarter worth approximately $8,281,000. Institutional investors and hedge funds 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.