Brokerages Set Bowlero Corp. (NYSE:BOWL) PT at $15.89

Bowlero Corp. (NYSE:BOWL) has been given a consensus rating of “Moderate Buy” by the ten analysts that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $15.89.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Private Management Group Inc. boosted its holdings in Bowlero by 2.5% in the 2nd quarter. Private Management Group Inc. now owns 1,290,388 shares of the company’s stock worth $18,698,000 after buying an additional 32,076 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Bowlero by 24.0% in 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 last quarter. Portolan Capital Management LLC purchased a new stake in shares of Bowlero during the third quarter worth approximately $8,281,000. Marshall Wace LLP raised its stake in 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 purchasing an additional 183,252 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in Bowlero by 51.0% in the 3rd quarter. King Luther Capital Management Corp now owns 356,105 shares of the company’s stock valued at $4,181,000 after purchasing an additional 120,215 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Bowlero Stock Down 2.8 %

BOWL stock opened at $10.01 on Friday. The firm has a 50 day moving average of $11.34 and a 200 day moving average of $11.96. The stock has a market capitalization of $1.47 billion, a PE ratio of -16.41 and a beta of 0.70. Bowlero has a 52 week low of $9.70 and a 52 week high of $15.47.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, November 4th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. The firm had revenue of $260.20 million for the quarter, compared to the consensus estimate of $249.42 million. During the same period in the prior year, the firm earned ($0.10) EPS. On average, equities research analysts expect that Bowlero will post 0.45 earnings per share for the current year.

Bowlero Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 22nd were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Friday, November 22nd. 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.