Dave & Buster’s Entertainment (PLAY) Issues Earnings Results, Beats Expectations By $0.06 EPS

Dave & Buster’s Entertainment (NASDAQ:PLAY) posted its earnings results on Tuesday. The restaurant operator reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.06, Yahoo Finance reports. The business had revenue of $250.00 million for the quarter, compared to analysts’ expectations of $255.70 million. Dave & Buster’s Entertainment had a net margin of 10.27% and a return on equity of 24.58%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share.

Shares of Dave & Buster’s Entertainment (NASDAQ:PLAY) traded down $1.16 during midday trading on Wednesday, reaching $52.89. 3,751,000 shares of the company traded hands, compared to its average volume of 829,770. Dave & Buster’s Entertainment has a fifty-two week low of $45.71 and a fifty-two week high of $73.48. The firm has a market capitalization of $2,221.51, a price-to-earnings ratio of 21.97, a P/E/G ratio of 1.35 and a beta of 0.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.32.

In other Dave & Buster’s Entertainment news, CEO Stephen M. King sold 45,000 shares of the company’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 value of $2,241,000.00. Following the completion of the sale, the chief executive officer now 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 can be accessed through the SEC website. Also, CFO Brian Jenkins sold 500 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $52.25, for a total transaction of $26,125.00. Following the completion of the sale, the chief financial officer now directly owns 5,042 shares of the company’s stock, valued at approximately $263,444.50. The disclosure for this sale can be found here. Insiders sold 58,000 shares of company stock worth $2,901,075 over the last 90 days. 3.84% of the stock is currently owned by company insiders.

A number of research firms have commented on PLAY. Zacks Investment Research upgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, October 10th. Piper Jaffray Companies restated an “overweight” rating and issued a $69.00 price target (down from $74.00) on shares of Dave & Buster’s Entertainment in a research report on Friday, September 1st. TheStreet upgraded shares of Dave & Buster’s Entertainment from a “c” rating to a “b-” rating in a research report on Thursday, November 9th. Wells Fargo & Company restated an “outperform” rating and issued a $71.00 price target (down from $78.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, September 6th. Finally, Canaccord Genuity restated a “buy” rating and issued a $72.00 price target (down from $75.00) on shares of Dave & Buster’s Entertainment in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Dave & Buster’s Entertainment currently has a consensus rating of “Buy” and a consensus target price of $71.30.

Dave & Buster’s Entertainment declared that its Board of Directors has authorized a stock buyback plan on Friday, September 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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Dave & Buster’s Entertainment Company Profile

Dave & Buster’s 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.

Earnings History for Dave & Buster`s Entertainment (NASDAQ:PLAY)

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