Dave & Buster's Entertainment (PLAY): Comp Growth Trumps EPS Beat - Piper Jaffray
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray analyst, Nicole Miller Regan, reiterated her Overweight rating on shares of Dave & Buster's (NASDAQ: PLAY) along with a price target of $51.00 after stronger YoY margins helped deliver EPS of $0.50 (vs. expectations at $0.44) despite slower-than-expected comp results of +1.0% (vs. expectations of +2.1%). Trends to date in 3Q have accelerated and are running in the low +2% range. However the analyst thinks the company's reduced outlook for same-store sales (offset by a maintained revenue and EPS outlook) could pressure shares.
No change to the $51 PT but the basis is a lower multiple on FY17 EBITDA, 10x from 11x FY16.
Shares of Dave & Buster's closed at $46.27 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Spirit Airlines (SAVE); Cuts 4Q Estimates
- Wedbush Cuts Price Target on Polaris Industries (PII) Following 3Q Report
- Graphic Packaging (GPK) PT, Estimates Trimmed at Jefferies Post Q3
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Earnings
Related EntitiesPiper Jaffray, Nicole Miller Regan
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!