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

Bowlero Corp. (NYSE:BOWL) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, May 24th will be given a dividend of 0.055 per share on Friday, June 7th. This represents a $0.22 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, May 23rd.

Bowlero has a payout ratio of 71.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bowlero to earn $0.34 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 64.7%.

Bowlero Trading Up 0.7 %

BOWL opened at $12.09 on Wednesday. The firm’s 50 day moving average is $12.45 and its 200-day moving average is $12.24. Bowlero has a 52-week low of $8.85 and a 52-week high of $15.47. The company has a quick ratio of 1.21, a current ratio of 1.29 and a debt-to-equity ratio of 46.80. The firm has a market capitalization of $1.80 billion, a P/E ratio of 22.81 and a beta of 0.57.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BOWL. JPMorgan Chase & Co. cut their price objective on shares of Bowlero from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. CJS Securities reissued a “market perform” rating on shares of Bowlero in a report on Tuesday, May 7th. Canaccord Genuity Group dropped their price objective on Bowlero from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Craig Hallum increased their target price on Bowlero from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, Roth Mkm decreased their price target on shares of Bowlero from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bowlero presently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

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.