Dave & Buster's Entertainment (PLAY): Comp Growth Trumps EPS Beat - Piper Jaffray
Get Alerts PLAY Hot Sheet
Rating Summary:
9 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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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.
For an analyst ratings summary and ratings history on Dave & Buster's click here. For more ratings news on Dave & Buster's click here.
Shares of Dave & Buster's closed at $46.27 yesterday.
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