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Dave & Buster's (PLAY) Just Hit a New 52-Week High

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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.

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