Lucky Strike Entertainment (NYSE:LUCK) Reaches New 12-Month Low on Disappointing Earnings

Lucky Strike Entertainment (NYSE:LUCK) hit a new 52-week low during trading on Friday following a dissappointing earnings announcement. The company traded as low as $7.66 and last traded at $8.26, with a volume of 1171972 shares traded. The stock had previously closed at $9.57.

The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.16). Lucky Strike Entertainment had a negative return on equity of 35.76% and a net margin of 1.11%. The firm had revenue of $339.88 million for the quarter, compared to the consensus estimate of $361.42 million.

Lucky Strike Entertainment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.22 dividend on an annualized basis and a yield of 2.51%. Lucky Strike Entertainment’s dividend payout ratio (DPR) is currently -2,200.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group restated a “buy” rating and set a $16.00 target price (down previously from $18.00) on shares of Lucky Strike Entertainment in a research report on Monday, May 5th. JPMorgan Chase & Co. cut their price target on Lucky Strike Entertainment from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Truist Financial lowered their price objective on shares of Lucky Strike Entertainment from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, April 14th.

Insider Activity

In other Lucky Strike Entertainment news, Director John Alan Young bought 3,685 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average price of $10.13 per share, for a total transaction of $37,329.05. Following the acquisition, the director now directly owns 69,423 shares of the company’s stock, valued at approximately $703,254.99. The trade was a 5.61 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Brett I. Parker sold 1,747,434 shares of Lucky Strike Entertainment stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $11.54, for a total value of $20,165,388.36. Following the transaction, the insider now owns 498,092 shares of the company’s stock, valued at $5,747,981.68. This trade represents a 77.82 % decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 6,163 shares of company stock worth $62,213 in the last three months. Company insiders own 79.90% of the company’s stock.

Lucky Strike Entertainment Stock Performance

The company has a market cap of $1.25 billion, a price-to-earnings ratio of -876.12 and a beta of 0.80. The stock has a fifty day simple moving average of $9.29.

About Lucky Strike Entertainment

Lucky Strike Entertainment Corp. engages in operating bowling centers. It offers entertainment concepts with lounge seating, arcades, food and beverage offerings, and hosting and overseeing professional and non-professional bowling tournaments and related broadcasting. The company was founded by Thomas F.