William Blair Comments on Dave & Buster’s Entertainment Inc’s Q3 2023 Earnings (NASDAQ:PLAY)

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY – Get Rating) – Equities research analysts at William Blair cut their Q3 2023 earnings per share estimates for Dave & Buster’s Entertainment in a research note issued on Tuesday, June 7th. William Blair analyst S. Zackfia now anticipates that the restaurant operator will post earnings per share of $0.30 for the quarter, down from their previous forecast of $0.33.

Dave & Buster’s Entertainment (NASDAQ:PLAY – Get Rating) last announced its quarterly earnings data on Tuesday, June 7th. The restaurant operator reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.19. The company had revenue of $451.10 million for the quarter, compared to analyst estimates of $440.63 million. Dave & Buster’s Entertainment had a return on equity of 56.54% and a net margin of 10.47%. The firm’s revenue for the quarter was up 70.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS.

Other analysts also recently issued reports about the company. Raymond James raised their price objective on Dave & Buster’s Entertainment from $55.00 to $60.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, March 30th. StockNews.com started coverage on Dave & Buster’s Entertainment in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research cut Dave & Buster’s Entertainment from a “strong-buy” rating to a “hold” rating and set a $46.00 target price for the company. in a report on Friday, May 6th. BMO Capital Markets raised their target price on Dave & Buster’s Entertainment from $62.00 to $66.00 in a report on Wednesday. Finally, Jefferies Financial Group raised their target price on Dave & Buster’s Entertainment from $56.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, March 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $53.45.

Shares of PLAY stock opened at $41.06 on Thursday. Dave & Buster’s Entertainment has a fifty-two week low of $29.83 and a fifty-two week high of $52.54. The firm has a market capitalization of $2.00 billion, a P/E ratio of 13.03, a PEG ratio of 0.80 and a beta of 1.82. The stock’s fifty day moving average is $42.00 and its two-hundred day moving average is $39.73. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.34 and a current ratio of 0.69.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Dave & Buster’s Entertainment during the first quarter valued at about $32,000. Whittier Trust Co. raised its position in Dave & Buster’s Entertainment by 93.2% in the fourth quarter. Whittier Trust Co. now owns 738 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 356 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Dave & Buster’s Entertainment by 68.9% in the first quarter. Nisa Investment Advisors LLC now owns 1,030 shares of the restaurant operator’s stock worth $51,000 after acquiring an additional 420 shares in the last quarter. Exane Derivatives bought a new stake in Dave & Buster’s Entertainment in the fourth quarter worth about $40,000. Finally, Focused Wealth Management Inc acquired a new stake in Dave & Buster’s Entertainment during the 1st quarter worth about $69,000. 97.24% of the stock is owned by institutional investors.

In related news, CMO Brandon Charles Coleman III sold 10,000 shares of Dave & Buster’s Entertainment stock in a transaction on Friday, May 13th. The shares were sold at an average price of $40.06, for a total value of $400,600.00. Following the completion of the sale, the chief marketing officer now owns 32,302 shares in the company, valued at $1,294,018.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael Joseph Metzinger sold 2,226 shares of Dave & Buster’s Entertainment stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $50.00, for a total transaction of $111,300.00. The disclosure for this sale can be found here. Insiders sold 12,798 shares of company stock worth $538,161 over the last three months. Corporate insiders own 3.21% of the company’s stock.

Dave & Buster’s Entertainment Company Profile (Get Rating)

Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.

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