Dave & Busters reported its first quarter results earlier than estimated. Wall Street likes to recover the sales of entertainment center operators.
Finally, Dave & Buster’s share price rose 4% to $ 45.84.
Raymond James analysts maintained an outperform rating and a $ 55 price target. Investment firms say the Dallas company’s recovery in sales was “significantly better than expected” and continued to be “much stronger profitability.”
Raymond James expects 2021 revenue before interest, taxes, depreciation and amortization to exceed 2019 levels. Investment firms previously didn’t expect that to happen until 2022.
Meanwhile, Truist analysts maintained a hold valuation while raising the price target from $ 46 to $ 53.
Q1 results and current trends indicate a “rapid sales recovery”, reflecting the company’s more efficient operating model.
Dave & Busters surged in per capita amusement spending, with stronger results despite less quarterly promotions.
at the same time,”[impact] Given the infrequent visits in the past and the expectation that competitive intrusions will resume, the stagnation in demand can be more temporary than in restaurants. “
Gordon Husquette analyst Jeff Farmer said, “PLAY’s weekly average weekly sales recovery remained strong from May to early June, suggesting there is still momentum for a broader sector recovery. We have maintained the hold valuation and the $ 47 price target.
Report of Dave & Busters First quarter revenueIt was $ 265.3 million, compared to $ 159.8 million in the first quarter of 2020 and $ 363.6 million in the first quarter of 2019.
FactSet analyst consensus demanded $ 246.3 million in revenue in the last quarter.
Net income for the most recent quarter was $ 19.6 million (40 cents per share), while net loss for the first quarter of 2020 was $ 43.5 million ($ 1.37 per share) and net income for the first quarter of 2019 was It was $ 42.4 million ($ 1.13 per share).
Dave & Buster's Jumps as Analysts See Strong Sales Recovery Source link Dave & Buster's Jumps as Analysts See Strong Sales Recovery