Bowlero Corp. (NYSE:BOWL) to Issue Quarterly Dividend of $0.06

Bowlero Corp. (NYSE:BOWL) announced a quarterly dividend on Monday, November 4th,NASDAQ Dividends reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.055 per share on Friday, December 6th. This represents a $0.22 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, November 22nd.

Bowlero has a dividend payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bowlero to earn $0.37 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 59.5%.

Bowlero Trading Down 2.7 %

Bowlero stock opened at $11.48 on Wednesday. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -18.82 and a beta of 0.62. Bowlero has a 12 month low of $9.70 and a 12 month high of $15.47. The business’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $12.16.

Bowlero (NYSE:BOWL) last released its earnings results on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.30. The company had revenue of $260.20 million during the quarter, compared to the consensus estimate of $249.42 million. Bowlero had a negative return on equity of 31.58% and a negative net margin of 6.63%. During the same quarter in the previous year, the company posted ($0.10) EPS. As a group, equities research analysts forecast that Bowlero will post 0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Royal Bank of Canada upgraded Bowlero to a “moderate buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price objective on Bowlero from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. B. Riley reaffirmed a “buy” rating and set a $17.00 target price on shares of Bowlero in a research report on Tuesday, September 3rd. Piper Sandler started coverage on shares of Bowlero in a research report on Monday, October 28th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $18.00 price objective on shares of Bowlero in a research report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.88.

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.