Bowlero Corp. (NYSE:BOWL) Declares $0.06 Quarterly Dividend

Bowlero Corp. (NYSE:BOWL - Get Free Report) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Friday, May 24th will be paid a dividend of 0.055 per share on Friday, June 7th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, May 23rd.

Bowlero has a dividend payout ratio of 59.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bowlero to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 56.4%.

Bowlero Price Performance

Shares of NYSE BOWL traded up $0.09 during midday trading on Tuesday, reaching $11.29. The company's stock had a trading volume of 2,262,241 shares, compared to its average volume of 1,086,653. The company has a market cap of $1.69 billion, a P/E ratio of 62.72 and a beta of 0.57. Bowlero has a fifty-two week low of $8.85 and a fifty-two week high of $15.47. The company has a debt-to-equity ratio of 46.80, a quick ratio of 1.14 and a current ratio of 1.22. The business's 50 day moving average price is $12.72 and its two-hundred day moving average price is $12.15.

Bowlero (NYSE:BOWL - Get Free Report) last released its earnings results on Monday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.13). The company had revenue of $305.67 million for the quarter, compared to the consensus estimate of $300.46 million. Bowlero had a net margin of 6.33% and a return on equity of 98.75%. On average, analysts forecast that Bowlero will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BOWL shares. Craig Hallum upped their price objective on shares of Bowlero from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Bowlero from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday. Stifel Nicolaus cut their target price on Bowlero from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday. B. Riley decreased their price target on Bowlero from $19.00 to $17.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, CJS Securities reissued a "market perform" rating on shares of Bowlero in a research note on Tuesday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.57.

Insiders Place Their Bets

In related news, Director Michelle D. Wilson sold 87,267 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.88, for a total transaction of $1,123,998.96. Following the completion of the sale, the director now directly owns 1,040,204 shares in the company, valued at approximately $13,397,827.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 56.54% of the stock is owned by insiders.

Bowlero Company Profile

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.