Dave & Buster’s Entertainment Inc (NASDAQ:PLAY – Get Rating) – Analysts at William Blair reduced their Q2 2024 earnings estimates for shares of Dave & Buster’s Entertainment in a research report issued to clients and investors on Wednesday, June 14th. William Blair analyst S. Zackfia now forecasts that the restaurant operator will post earnings of $0.95 per share for the quarter, down from their previous estimate of $1.13. The consensus estimate for Dave & Buster’s Entertainment’s current full-year earnings is $3.50 per share. William Blair also issued estimates for Dave & Buster’s Entertainment’s Q4 2024 earnings at $1.31 EPS, FY2025 earnings at $5.25 EPS and FY2026 earnings at $7.72 EPS.
PLAY has been the topic of several other research reports. StockNews.com assumed coverage on Dave & Buster’s Entertainment in a report on Thursday, May 18th. They set a “hold” rating on the stock. UBS Group started coverage on shares of Dave & Buster’s Entertainment in a research note on Sunday, May 7th. They set a “neutral” rating and a $38.00 price target on the stock. Raymond James boosted their price objective on shares of Dave & Buster’s Entertainment from $55.00 to $60.00 in a research report on Wednesday. BMO Capital Markets increased their price objective on Dave & Buster’s Entertainment from $55.00 to $60.00 in a research report on Wednesday, June 7th. Finally, Truist Financial lifted their target price on Dave & Buster’s Entertainment from $60.00 to $63.00 in a research note on Wednesday, June 7th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.43.
Dave & Buster’s Entertainment Stock Performance
Dave & Buster’s Entertainment (NASDAQ:PLAY – Get Rating) last posted its earnings results on Tuesday, June 6th. The restaurant operator reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. Dave & Buster’s Entertainment had a net margin of 6.64% and a return on equity of 38.02%. The company had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $603.91 million. During the same quarter in the previous year, the company posted $1.35 earnings per share. Dave & Buster’s Entertainment’s quarterly revenue was up 32.4% compared to the same quarter last year.
Insider Buying and Selling at Dave & Buster’s Entertainment
In other Dave & Buster’s Entertainment news, SVP John Mulleady sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $43.31, for a total value of $324,825.00. Following the transaction, the senior vice president now directly owns 68,312 shares of the company’s stock, valued at $2,958,592.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.
Hedge Funds Weigh In On Dave & Buster’s Entertainment
Several hedge funds have recently added to or reduced their stakes in the stock. Balyasny Asset Management LLC acquired a new position in Dave & Buster’s Entertainment in the third quarter valued at about $41,318,000. Morgan Stanley grew its stake in Dave & Buster’s Entertainment by 141.0% in the fourth quarter. Morgan Stanley now owns 1,464,963 shares of the restaurant operator’s stock valued at $51,918,000 after acquiring an additional 857,208 shares during the period. Cibc World Markets Corp bought a new position in Dave & Buster’s Entertainment in the fourth quarter valued at approximately $28,175,000. Millennium Management LLC bought a new position in Dave & Buster’s Entertainment in the fourth quarter valued at approximately $26,536,000. Finally, Goldentree Asset Management LP bought a new position in Dave & Buster’s Entertainment in the first quarter valued at approximately $24,229,000. Institutional investors and hedge funds own 99.21% of the company’s stock.
Dave & Buster’s Entertainment Company Profile
Dave & Buster's Entertainment, Inc owns and operates entertainment and dining venues for adults and families. Its venues offer a menu of entrees and appetizers, as well as a selection of non-alcoholic and alcoholic beverages; and an assortment of entertainment attractions centered on playing games and watching live sports, and other televised events.
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