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.
Recommended Story: How is the Producer Price Index calculated?
Get a free copy of the Zacks research report on Dave & Buster's Entertainment (PLAY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is Cost of Debt?7 Stocks That Cathie Wood is Buying And You Should Too
If you’re an investor that likes to go with the “hot hand,” then they don’t get much hotter than Cathie Wood. The founder and CEO of ARK Investment Management delivered returns of over 100% in all five of her firm’s exchange-traded funds (ETFs) in 2020.
The names of her funds showcase some of the hottest emerging growth trends in the market: financial technology (fintech), genomic revolution, innovation, autonomous technology/robotics, and next generation internet.
As you would expect, these funds contain some of the hottest growth stocks from the past year. And in the aftermath of the tech selloff, Wood is not backing away. In fact, she’s doubling down on her strategy. It might not be exactly a matter of being greedy while others are fearful; perhaps more like being prepared while others are distracted.
But the other thing about Wood’s selections is that many of them are not obscure names. These are companies that were among the hottest names in 2020. Wood simply believes that they still have room to run. And that’s one reason you should consider making them a part of your portfolio.
In this special presentation, we’re giving you just seven of the stocks that Cathie Wood is buying or has bought recently. We’ve attempted to pick out at least one stock from each of the ARK ETFs. As with any investment decision, it’s important that you perform your own research before making a decision.
View the "7 Stocks That Cathie Wood is Buying And You Should Too"