Dave & Buster's Entertainment Inc (NASDAQ:PLAY) Expected to Post Quarterly Sales of $217.52 Million

Thursday, April 8, 2021 | MarketBeat

Wall Street brokerages forecast that Dave & Buster's Entertainment Inc (NASDAQ:PLAY) will report sales of $217.52 million for the current quarter, according to Zacks. Seven analysts have provided estimates for Dave & Buster's Entertainment's earnings, with estimates ranging from $214.81 million to $220.39 million. Dave & Buster's Entertainment reported sales of $159.81 million during the same quarter last year, which indicates a positive year-over-year growth rate of 36.1%. The firm is expected to report its next quarterly earnings results on Thursday, June 10th.

According to Zacks, analysts expect that Dave & Buster's Entertainment will report full-year sales of $1.09 billion for the current year, with estimates ranging from $995.80 million to $1.26 billion. For the next financial year, analysts anticipate that the company will post sales of $1.48 billion, with estimates ranging from $1.35 billion to $1.56 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Dave & Buster's Entertainment.

Dave & Buster's Entertainment (NASDAQ:PLAY) last released its earnings results on Tuesday, March 30th. The restaurant operator reported ($1.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.25) by $0.06. Dave & Buster's Entertainment had a negative net margin of 18.78% and a negative return on equity of 60.06%.

A number of research firms have recently weighed in on PLAY. BMO Capital Markets increased their price target on Dave & Buster's Entertainment from $37.00 to $54.00 and gave the company an "outperform" rating in a research note on Thursday, April 1st. Truist Securities increased their target price on Dave & Buster's Entertainment from $29.00 to $42.00 in a research note on Thursday, April 1st. Piper Sandler boosted their target price on Dave & Buster's Entertainment from $33.00 to $49.00 and gave the stock a "neutral" rating in a research report on Thursday, April 1st. Raymond James upped their price target on Dave & Buster's Entertainment from $45.00 to $55.00 and gave the company a "strong-buy" rating in a research note on Monday, March 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Dave & Buster's Entertainment from $14.00 to $33.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 30th. Six research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of "Buy" and an average price target of $36.77.

In related news, COO Margo Lynn Manning sold 5,579 shares of the stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $47.00, for a total transaction of $262,213.00. Also, Director Kevin M. Sheehan sold 5,000 shares of Dave & Buster's Entertainment stock in a transaction that occurred on Tuesday, April 6th. The shares were sold at an average price of $45.55, for a total value of $227,750.00. Following the completion of the sale, the director now directly owns 94,218 shares in the company, valued at approximately $4,291,629.90. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Dave & Buster's Entertainment by 6.1% in the fourth quarter. BlackRock Inc. now owns 7,111,007 shares of the restaurant operator's stock worth $213,473,000 after purchasing an additional 408,706 shares in the last quarter. Morgan Stanley lifted its position in Dave & Buster's Entertainment by 90.0% during the 4th quarter. Morgan Stanley now owns 3,171,546 shares of the restaurant operator's stock worth $95,211,000 after buying an additional 1,502,724 shares in the last quarter. State Street Corp lifted its position in Dave & Buster's Entertainment by 2.6% during the 3rd quarter. State Street Corp now owns 1,363,534 shares of the restaurant operator's stock worth $20,671,000 after buying an additional 34,493 shares in the last quarter. Diameter Capital Partners LP bought a new position in shares of Dave & Buster's Entertainment in the 4th quarter valued at about $25,967,000. Finally, Rothschild & Co. Asset Management US Inc. bought a new position in Dave & Buster's Entertainment in the fourth quarter valued at approximately $21,951,000. 97.87% of the stock is owned by institutional investors.

Shares of PLAY stock opened at $44.53 on Thursday. The firm's 50 day moving average price is $43.70 and its two-hundred day moving average price is $30.02. The company has a debt-to-equity ratio of 2.72, a quick ratio of 0.23 and a current ratio of 0.32. Dave & Buster's Entertainment has a 52-week low of $8.43 and a 52-week high of $51.73. The stock has a market cap of $2.12 billion, a PE ratio of -15.79 and a beta of 2.07.

About Dave & Buster's Entertainment

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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