Bowlero Corp. (BOWL) to Issue Quarterly Dividend of $0.06 on June 7th

Bowlero Corp. (NYSE:BOWL) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors of record on Friday, May 24th will be paid a dividend of 0.055 per share on Friday, June 7th. This represents a $0.22 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, May 23rd.

Bowlero has a dividend payout ratio of 59.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Bowlero to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 56.4%.

Bowlero Trading Up 0.2 %

Shares of NYSE:BOWL opened at $11.29 on Thursday. The company has a 50 day moving average of $12.69 and a 200-day moving average of $12.15. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 46.80. The firm has a market cap of $1.69 billion, a P/E ratio of 62.72 and a beta of 0.57. Bowlero has a twelve month low of $8.85 and a twelve month high of $15.47.

Bowlero (NYSE:BOWL) last announced its earnings results on Monday, February 5th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.13). The firm had revenue of $305.67 million for the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a return on equity of 98.75% and a net margin of 6.33%. As a group, analysts anticipate that Bowlero will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BOWL. CJS Securities restated a “market perform” rating on shares of Bowlero in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Bowlero from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Roth Mkm lowered their price objective on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday. Craig Hallum boosted their target price on shares of Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, B. Riley reduced their target price on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.57.

Insider Transactions at Bowlero

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the sale, the director now directly owns 1,040,204 shares of the company’s stock, valued at approximately $13,397,827.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 56.54% of the stock is currently owned by insiders.

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.