Bowlero Corp. (BOWL) to Issue Quarterly Dividend of $0.06 on December 6th

Bowlero Corp. (NYSE:BOWL) announced a quarterly dividend on Monday, November 4th, NASDAQ reports. Investors 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 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, November 22nd.

Bowlero has a dividend payout ratio of 122.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Bowlero to earn $0.43 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 51.2%.

Bowlero Price Performance

NYSE BOWL opened at $11.59 on Wednesday. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of -17.83 and a beta of 0.62. Bowlero has a 1-year low of $8.85 and a 1-year high of $15.47. The business’s fifty day moving average price is $11.47 and its 200-day moving average price is $12.17.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.30. The company had revenue of $260.20 million during the quarter, compared to analysts’ expectations of $249.42 million. Bowlero had a negative return on equity of 5.36% and a negative net margin of 7.24%. During the same quarter in the prior year, the business earned ($0.10) earnings per share. Equities research analysts anticipate that Bowlero will post 0.2 EPS for the current year.

Wall Street Analyst Weigh In

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