FY2024 EPS Estimates for Bowlero Corp. Cut by Noble Financial (NYSE:BOWL)

Bowlero Corp. (NYSE:BOWL) – Investment analysts at Noble Financial dropped their FY2024 EPS estimates for shares of Bowlero in a report released on Tuesday, May 7th. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings per share of $0.10 for the year, down from their previous estimate of $0.18. The consensus estimate for Bowlero’s current full-year earnings is $0.15 per share. Noble Financial also issued estimates for Bowlero’s Q4 2024 earnings at $0.04 EPS.

Bowlero (NYSE:BOWL) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). Bowlero had a net margin of 6.33% and a return on equity of 98.75%. The company had revenue of $305.67 million during the quarter, compared to analyst estimates of $300.46 million.

BOWL has been the topic of several other research reports. Oppenheimer decreased their price target on Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. CJS Securities reaffirmed a “market perform” rating on shares of Bowlero in a research note on Tuesday. Craig Hallum boosted their price target on shares of Bowlero from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday. B. Riley reduced their price objective on shares of Bowlero from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bowlero currently has an average rating of “Moderate Buy” and an average target price of $16.57.

Bowlero Stock Up 0.2 %

NYSE:BOWL opened at $11.29 on Thursday. The stock’s fifty day moving average price is $12.67 and its two-hundred day moving average price is $12.15. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 62.72 and a beta of 0.57. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22.

Institutional Investors Weigh In On Bowlero

A number of hedge funds and other institutional investors have recently made changes to their positions in BOWL. Parkside Financial Bank & Trust lifted its position in Bowlero by 35.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,892 shares of the company’s stock worth $69,000 after buying an additional 1,286 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Bowlero in the third quarter valued at $51,000. Tower Research Capital LLC TRC raised its position in Bowlero by 2,940.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,568 shares of the company’s stock worth $93,000 after acquiring an additional 6,352 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bowlero by 23.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,692 shares of the company’s stock valued at $93,000 after acquiring an additional 1,842 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Bowlero by 19.0% during the 3rd quarter. Arizona State Retirement System now owns 12,833 shares of the company’s stock worth $123,000 after purchasing an additional 2,046 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Bowlero news, Director Michelle D. Wilson sold 87,267 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total value of $1,123,998.96. Following the completion of the sale, the director now directly owns 1,040,204 shares in the company, valued at $13,397,827.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 56.54% of the stock is currently owned by company insiders.

Bowlero Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, May 23rd. Bowlero’s dividend payout ratio is currently 122.22%.

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.