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Dave & Buster's (PLAY) Soars 9.4%: Is Further Upside Left in the Stock?
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Dave & Buster's (PLAY - Free Report) shares soared 9.4% in the last trading session to close at $34.18. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.9% loss over the past four weeks.
Shares of this Texas-based owner and operator of high-volume venues are likely to have trended upward because of the optimism surrounding the strategic execution of its “back to basics” strategy, solidifying long-term prospects. The notable improvements driven by this strategy across marketing, operations, menu, remodels and gaming portfolios seem to have been encouraging for investors.
This owner of Dave & Buster's, a chain of restaurants and arcades is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of -19.6%. Revenues are expected to be $566.07 million, up 1.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Dave & Buster's, the consensus EPS estimate for the quarter has been revised 3.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PLAY going forward to see if this recent jump can turn into more strength down the road.
Dave & Buster's is a member of the Zacks Retail - Restaurants industry. One other stock in the same industry, Papa John's (PZZA - Free Report) , finished the last trading session 0.4% higher at $45.53. PZZA has returned -7.5% over the past month.
Papa John's' consensus EPS estimate for the upcoming report has changed -3.7% over the past month to $0.34. Compared to the company's year-ago EPS, this represents a change of -44.3%. Papa John's currently boasts a Zacks Rank of #3 (Hold).
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Dave & Buster's (PLAY) Soars 9.4%: Is Further Upside Left in the Stock?
Dave & Buster's (PLAY - Free Report) shares soared 9.4% in the last trading session to close at $34.18. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1.9% loss over the past four weeks.
Shares of this Texas-based owner and operator of high-volume venues are likely to have trended upward because of the optimism surrounding the strategic execution of its “back to basics” strategy, solidifying long-term prospects. The notable improvements driven by this strategy across marketing, operations, menu, remodels and gaming portfolios seem to have been encouraging for investors.
This owner of Dave & Buster's, a chain of restaurants and arcades is expected to post quarterly earnings of $0.90 per share in its upcoming report, which represents a year-over-year change of -19.6%. Revenues are expected to be $566.07 million, up 1.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Dave & Buster's, the consensus EPS estimate for the quarter has been revised 3.7% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on PLAY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Dave & Buster's is a member of the Zacks Retail - Restaurants industry. One other stock in the same industry, Papa John's (PZZA - Free Report) , finished the last trading session 0.4% higher at $45.53. PZZA has returned -7.5% over the past month.
Papa John's' consensus EPS estimate for the upcoming report has changed -3.7% over the past month to $0.34. Compared to the company's year-ago EPS, this represents a change of -44.3%. Papa John's currently boasts a Zacks Rank of #3 (Hold).