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

Bowlero Corp. (NYSE:BOWL) declared 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 dividend yield of 1.92%. The ex-dividend date 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 Stock Down 2.7 %

Shares of NYSE BOWL 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 firm’s 50-day simple moving average is $11.59 and its 200 day simple moving average is $12.16.

Bowlero (NYSE:BOWL) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate 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 31.58% and a negative net margin of 6.63%. During the same period in the prior year, the firm earned ($0.10) earnings per share. On average, equities analysts expect that Bowlero will post 0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Bowlero

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.