Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) – Equities research analysts at SunTrust Banks cut their Q3 2018 earnings estimates for shares of Dave & Buster’s Entertainment in a note issued to investors on Monday. SunTrust Banks analyst J. Bartlett now expects that the restaurant operator will post earnings of $0.29 per share for the quarter, down from their previous forecast of $0.30. SunTrust Banks currently has a “Buy” rating and a $85.00 target price on the stock. SunTrust Banks also issued estimates for Dave & Buster’s Entertainment’s Q1 2019 earnings at $1.08 EPS, Q2 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.86 EPS and FY2019 earnings at $2.96 EPS.

Dave & Buster’s Entertainment (NASDAQ:PLAY) last announced its earnings results on Thursday, June 8th. The restaurant operator reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.17. The firm had revenue of $304.15 million during the quarter, compared to analysts’ expectations of $299.77 million. Dave & Buster’s Entertainment had a return on equity of 22.71% and a net margin of 9.78%. The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. WARNING: This piece was originally reported by Watch List News and is owned by of Watch List News. If you are reading this piece on another domain, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece can be viewed at https://www.watchlistnews.com/q3-2018-eps-estimates-for-dave-busters-entertainment-inc-cut-by-analyst-play/1533385.html.

A number of other brokerages have also issued reports on PLAY. Canaccord Genuity increased their price objective 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. Jefferies Group LLC increased their price objective on shares of Dave & Buster’s Entertainment from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Dave & Buster’s Entertainment from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Tuesday, May 23rd. Maxim Group reiterated a “buy” rating and set a $72.00 price objective on shares of Dave & Buster’s Entertainment in a research note on Friday, June 2nd. Finally, BMO Capital Markets reiterated a “buy” rating and set a $77.00 price objective (up previously from $64.00) on shares of Dave & Buster’s Entertainment in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $76.22.

Shares of Dave & Buster’s Entertainment (PLAY) opened at 57.82 on Wednesday. The firm’s 50-day moving average price is $62.94 and its 200-day moving average price is $62.86. Dave & Buster’s Entertainment has a 12 month low of $37.60 and a 12 month high of $73.48. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 24.47 and a beta of 0.64.

Dave & Buster’s Entertainment declared that its board has authorized a share repurchase plan on Tuesday, June 6th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the restaurant operator to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

In related news, SVP Jay L. Tobin sold 19,186 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $71.70, for a total value of $1,375,636.20. Following the completion of the sale, the senior vice president now owns 56,071 shares in the company, valued at approximately $4,020,290.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP John Mulleady sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $66.75, for a total transaction of $166,875.00. Following the completion of the sale, the senior vice president now owns 5,101 shares of the company’s stock, valued at approximately $340,491.75. The disclosure for this sale can be found here. Insiders have sold 144,186 shares of company stock valued at $10,085,186 over the last 90 days. 5.60% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of PLAY. BlackRock Inc. increased its stake in Dave & Buster’s Entertainment by 3.2% in the second quarter. BlackRock Inc. now owns 4,571,266 shares of the restaurant operator’s stock worth $304,033,000 after buying an additional 141,356 shares during the last quarter. Vanguard Group Inc. increased its stake in Dave & Buster’s Entertainment by 11.7% in the first quarter. Vanguard Group Inc. now owns 3,912,633 shares of the restaurant operator’s stock worth $239,022,000 after buying an additional 411,339 shares during the last quarter. Voya Investment Management LLC increased its stake in Dave & Buster’s Entertainment by 4.7% in the second quarter. Voya Investment Management LLC now owns 1,048,064 shares of the restaurant operator’s stock worth $69,707,000 after buying an additional 47,031 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Dave & Buster’s Entertainment by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,033,691 shares of the restaurant operator’s stock worth $68,751,000 after buying an additional 22,602 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Dave & Buster’s Entertainment by 10.5% in the second quarter. Victory Capital Management Inc. now owns 1,005,120 shares of the restaurant operator’s stock worth $66,851,000 after buying an additional 95,338 shares during the last quarter.

About Dave & Buster’s Entertainment

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 and Estimates for Dave & Buster`s Entertainment (NASDAQ:PLAY)

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