Dave & Buster’s Entertainment (NASDAQ:PLAY) declared that its board has approved a share repurchase plan, which allows the company to repurchase $100.00 million in outstanding shares on Friday, September 8th, EventVestor reports. This repurchase authorization allows the restaurant operator to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
Shares of Dave & Buster’s Entertainment (NASDAQ:PLAY) traded up 2.00% on Friday, reaching $52.92. 1,715,319 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $58.23 and its 200-day moving average price is $62.60. Dave & Buster’s Entertainment has a 1-year low of $37.60 and a 1-year high of $73.48. The company has a market capitalization of $2.19 billion, a P/E ratio of 20.60 and a beta of 0.65.
Dave & Buster’s Entertainment (NASDAQ:PLAY) last released its earnings results on Tuesday, September 5th. The restaurant operator reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. Dave & Buster’s Entertainment had a net margin of 10.27% and a return on equity of 24.58%. The business had revenue of $280.80 million for the quarter, compared to the consensus estimate of $281.69 million. During the same period in the previous year, the firm earned $0.50 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts anticipate that Dave & Buster’s Entertainment will post $2.69 EPS for the current fiscal year.
A number of analysts have issued reports on the company. Jefferies Group LLC upped their price objective on Dave & Buster’s Entertainment from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Canaccord Genuity boosted their target price on shares of Dave & Buster’s Entertainment from $70.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. BidaskClub upgraded shares of Dave & Buster’s Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 9th. SunTrust Banks, Inc. set a $85.00 target price on shares of Dave & Buster’s Entertainment and gave the stock a “buy” rating in a research note on Wednesday, June 7th. Finally, Zacks Investment Research upgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $74.11.
In related news, CEO Stephen M. King sold 45,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $49.80, for a total transaction of $2,241,000.00. Following the transaction, the chief executive officer now directly owns 22,501 shares of the company’s stock, valued at $1,120,549.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margo Lynn Manning sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $66.46, for a total transaction of $664,600.00. Following the completion of the sale, the chief operating officer now directly owns 15,447 shares of the company’s stock, valued at $1,026,607.62. The disclosure for this sale can be found here. Insiders have sold 87,500 shares of company stock worth $4,909,000 in the last 90 days. 5.60% of the stock is owned by company insiders.
About Dave & Buster’s Entertainment
Dave & Busters Entertainment, Inc owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of Fun American New Gourmet entrées 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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