Dave & Buster's Entertainment (PLAY): Comp Growth Trumps EPS Beat - Piper Jaffray

September 7, 2016 7:25 AM EDT
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Price: $54.49 -0.96%

Rating Summary:
    7 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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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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Piper Jaffray, Nicole Miller Regan

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