William Blair Comments on Dave & Buster’s Entertainment Inc’s Q2 2023 Earnings (NASDAQ:PLAY)

Dave & Buster’s Entertainment Inc (NASDAQ:PLAY – Get Rating) – Equities researchers at William Blair lowered their Q2 2023 earnings per share (EPS) estimates for shares of Dave & Buster’s Entertainment in a research report issued on Tuesday, June 7th. William Blair analyst S. Zackfia now expects that the restaurant operator will post earnings of $1.05 per share for the quarter, down from their prior forecast of $1.15. William Blair also issued estimates for Dave & Buster’s Entertainment’s Q4 2023 earnings at $0.92 EPS and FY2024 earnings at $4.39 EPS.

Several other research analysts also recently weighed in on PLAY. Zacks Investment Research downgraded shares of 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 research note on Friday, May 6th. Piper Sandler boosted their target price on shares of Dave & Buster’s Entertainment from $42.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday. Stifel Nicolaus boosted their target price on shares of Dave & Buster’s Entertainment from $40.00 to $45.00 in a research note on Tuesday, March 29th. Jefferies Financial Group upped their price objective on shares of Dave & Buster’s Entertainment from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 30th. Finally, BMO Capital Markets upped their price objective on shares of Dave & Buster’s Entertainment from $62.00 to $66.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $53.45.

Shares of PLAY stock opened at $39.64 on Friday. The firm has a 50-day moving average price of $41.82 and a 200 day moving average price of $39.75. Dave & Buster’s Entertainment has a twelve month low of $29.83 and a twelve month high of $52.54. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 0.82 and a beta of 1.82. The company has a current ratio of 0.69, a quick ratio of 0.34 and a debt-to-equity ratio of 1.23.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLAY. MIC Capital Management UK LLP purchased a new position in Dave & Buster’s Entertainment in the 4th quarter worth approximately $48,728,000. Point72 Asset Management L.P. acquired a new position in shares of Dave & Buster’s Entertainment in the 3rd quarter valued at approximately $35,378,000. Candlestick Capital Management LP raised its position in shares of Dave & Buster’s Entertainment by 247.9% in the 3rd quarter. Candlestick Capital Management LP now owns 1,205,744 shares of the restaurant operator’s stock valued at $46,216,000 after purchasing an additional 859,132 shares in the last quarter. American Century Companies Inc. raised its position in shares of Dave & Buster’s Entertainment by 36.8% in the 4th quarter. American Century Companies Inc. now owns 2,656,870 shares of the restaurant operator’s stock valued at $102,024,000 after purchasing an additional 714,895 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Dave & Buster’s Entertainment in the 4th quarter valued at approximately $23,991,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

In related news, CFO Michael Quartieri purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, April 13th. The stock was purchased at an average price of $45.28 per share, for a total transaction of $226,400.00. Following the acquisition, the chief financial officer now directly owns 5,000 shares in the company, valued at $226,400. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael Joseph Metzinger sold 2,226 shares of the company’s stock in a transaction that occurred on Wednesday, March 30th. The stock was sold at an average price of $50.00, for a total value of $111,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,798 shares of company stock valued at $538,161 in the last quarter. Company insiders own 3.21% of the company’s stock.

About Dave & Buster’s Entertainment (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.

Further Reading

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