Bowlero Corp. Announces Quarterly Dividend of $0.06 (NYSE:BOWL)

Bowlero Corp. (NYSE:BOWL) declared a quarterly dividend on Monday, November 4th, NASDAQ reports. Investors of record on Friday, November 22nd will be given a dividend of 0.055 per share on Friday, December 6th. This represents a $0.22 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Friday, November 22nd.

Bowlero has a dividend payout ratio of 122.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Bowlero to earn $0.43 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 51.2%.

Bowlero Trading Up 11.7 %

Bowlero stock traded up $1.21 on Tuesday, reaching $11.59. 1,873,127 shares of the stock were exchanged, compared to its average volume of 813,304. Bowlero has a twelve month low of $8.85 and a twelve month high of $15.47. The firm has a fifty day moving average price of $11.47 and a two-hundred day moving average price of $12.17. The stock has a market cap of $1.71 billion, a PE ratio of -17.88 and a beta of 0.62.

Bowlero (NYSE:BOWL) last announced its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.30. Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. The firm had revenue of $260.20 million during the quarter, compared to the consensus estimate of $249.42 million. During the same quarter in the prior year, the company earned ($0.10) EPS. Equities analysts anticipate that Bowlero will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BOWL. JPMorgan Chase & Co. reduced their price target on shares of Bowlero from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday. Royal Bank of Canada upgraded shares of Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. Piper Sandler started coverage on Bowlero in a research note on Monday, October 28th. They set a “neutral” rating and a $12.00 price target on the stock. B. Riley reiterated a “buy” rating and issued a $17.00 price objective on shares of Bowlero in a research report on Tuesday, September 3rd. Finally, Canaccord Genuity Group restated a “buy” rating and set a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bowlero presently has a consensus rating of “Moderate Buy” and an average price target of $15.88.

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.