Dave & Buster's Entertainment (PLAY): Comp Growth Trumps EPS Beat - Piper Jaffray
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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.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Earnings
Related EntitiesPiper Jaffray, Nicole Miller Regan
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