Shares of Bowlero Corp. (NYSE:BOWL – Get Rating) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $14.06, but opened at $13.35. Bowlero shares last traded at $11.53, with a volume of 1,672,575 shares trading hands.
The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $315.73 million for the quarter, compared to analysts’ expectations of $302.34 million. Bowlero had a negative return on equity of 288.06% and a negative net margin of 4.19%. During the same period in the previous year, the company earned $0.30 earnings per share.
Wall Street Analyst Weigh In
BOWL has been the subject of a number of recent analyst reports. Canaccord Genuity Group initiated coverage on shares of Bowlero in a report on Wednesday, March 8th. They set a “buy” rating and a $22.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Bowlero in a report on Wednesday, April 19th. They set a “buy” rating and a $23.00 price target for the company. Craig Hallum initiated coverage on shares of Bowlero in a report on Friday, February 24th. They set a “buy” rating for the company. JPMorgan Chase & Co. raised their price target on shares of Bowlero from $18.00 to $20.00 in a report on Friday, March 17th. Finally, Roth Capital restated a “buy” rating on shares of Bowlero in a report on Monday, February 6th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $20.75.
Insiders Place Their Bets
Institutional Investors Weigh In On Bowlero
Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE purchased a new position in Bowlero during the first quarter worth about $35,000. Point72 Hong Kong Ltd purchased a new position in Bowlero during the third quarter worth about $37,000. Tower Research Capital LLC TRC raised its holdings in Bowlero by 42.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,049 shares of the company’s stock worth $38,000 after purchasing an additional 911 shares in the last quarter. Paragon Wealth Strategies LLC purchased a new position in Bowlero during the third quarter worth about $41,000. Finally, Neo Ivy Capital Management purchased a new position in Bowlero during the third quarter worth about $44,000. 64.88% of the stock is owned by hedge funds and other institutional investors.
Bowlero Stock Down 16.7 %
The stock has a market capitalization of $1.94 billion, a PE ratio of -35.48 and a beta of 0.20. The firm’s fifty day moving average is $14.97 and its 200-day moving average is $14.34.
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. As of July 3, 2022, it operated approximately 317 centers in the United States, Mexico, and Canada.
- Get a free copy of the StockNews.com research report on Bowlero (BOWL)
- It’s Time To Take Another Bite Of Take-Two Interactive
- Zoetis Declares New Dividend, Hinting At Undervaluation
- Good News For Walmart Isn’t So Great For Everybody Else
- Eagle Materials, Answering America’s Building Supply Needs
- Pharma Giants Novartis, Lilly, Merck, and Novo Outperform Market
Receive News & Ratings for Bowlero Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bowlero and related companies with MarketBeat.com's FREE daily email newsletter.