Noble Financial Comments on Bowlero Corp.’s FY2024 Earnings (NYSE:BOWL)

Bowlero Corp. (NYSE:BOWL) – Investment analysts at Noble Financial dropped their FY2024 earnings per share estimates for shares of Bowlero in a research note issued to investors on Tuesday, May 7th. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings of $0.10 per share for the year, down from their previous forecast 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 announced its quarterly earnings results on Monday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.13). The business had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $300.46 million. Bowlero had a net margin of 6.33% and a return on equity of 98.75%.

BOWL has been the topic of a number of other research reports. Oppenheimer lowered their target price on Bowlero from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. CJS Securities reiterated a “market perform” rating on shares of Bowlero in a research report on Tuesday. Roth Mkm reduced their target price on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Canaccord Genuity Group cut their price objective on shares of Bowlero from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.57.

Bowlero Trading Up 0.2 %

Shares of BOWL opened at $11.29 on Thursday. The company has a debt-to-equity ratio of 46.80, a current ratio of 1.22 and a quick ratio of 1.14. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 62.72 and a beta of 0.57. The firm has a 50 day simple moving average of $12.67 and a 200-day simple moving average of $12.15.

Bowlero Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 24th will be given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 1.95%. The ex-dividend date is Thursday, May 23rd. Bowlero’s dividend payout ratio (DPR) is 122.22%.

Insiders Place Their Bets

In related news, Director Michelle D. Wilson sold 87,267 shares of Bowlero stock in a transaction on 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 transaction, the director now owns 1,040,204 shares in the company, valued at $13,397,827.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 56.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC boosted its holdings in Bowlero by 52.4% in the 1st quarter. Bleakley Financial Group LLC now owns 40,971 shares of the company’s stock worth $561,000 after acquiring an additional 14,081 shares during the period. Russell Investments Group Ltd. purchased a new position in Bowlero in the 1st quarter valued at about $1,636,000. Simplicity Wealth LLC acquired a new stake in shares of Bowlero during the first quarter valued at about $561,000. Diversified Trust Co increased its position in shares of Bowlero by 39.4% during the first quarter. Diversified Trust Co now owns 23,700 shares of the company’s stock worth $325,000 after acquiring an additional 6,700 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Bowlero by 47.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,800 shares of the company’s stock worth $110,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.