On Wednesday, restaurant and gaming company Dave & Buster’s Entertainment Inc. (PLAY - Free Report) just hit a new 52-week high of $57.39 a share after reporting strong third quarter fiscal 2016 financial results yesterday after the bell. At 3:52 PM EST, PLAY stock is up 19.33%.
The company reported earnings of 25 cents per share on revenues of $228.7 million, both comfortably beating the Zacks Consensus Estimate. Earnings per share grew a whopping 108% year-over-year, while revenues saw a year-over-year increase of 18.6. Comparable store sales increased 5.9% during the quarter, compared to an increase of 8.8% in the year-ago period.
As a result of its strong performance, Dave & Buster’s raised its full-year fiscal 2016 financial outlook. Total revenues are expected to be in the range of $998 million to $1.003 billion. Q4 comps should fall between an increase of 2.5% and 4.5%, while net income is expected to be in the range of $86.5 million to $88.5 million.
Headquartered in Dallas, Texas, Dave & Buster’s is a company that smartly combines a full-service restaurant with a video arcade. Customers get the opportunity to eat and drink from a full menu of gourmet entrees, appetizers, and beverages, while also getting to play an assortment of games and to watch live sports and other televised events.
Dave & Buster’s was founded in 1982 and has locations in 31 U.S. states and one in Canada. The company filed its first initial public offering (IPO) in 1995, and then launched a second IPO in 2014 with the intention of paying off debt.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year. See these high-potential stocks now >>