Six Flags Entertainment Corp (NYSE:SIX) – Research analysts at KeyCorp reduced their Q4 2018 earnings estimates for Six Flags Entertainment in a research note issued to investors on Wednesday, October 24th, according to Zacks Investment Research. KeyCorp analyst B. Andress now forecasts that the company will earn $0.29 per share for the quarter, down from their previous forecast of $0.31. KeyCorp currently has a “Overweight” rating and a $69.00 target price on the stock. KeyCorp also issued estimates for Six Flags Entertainment’s FY2019 earnings at $2.75 EPS.
Six Flags Entertainment (NYSE:SIX) last posted its quarterly earnings data on Tuesday, October 23rd. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.16). The firm had revenue of $619.82 million during the quarter, compared to analysts’ expectations of $633.03 million. Six Flags Entertainment had a net margin of 20.30% and a negative return on equity of 35.16%.
A number of other research firms have also recently weighed in on SIX. Zacks Investment Research cut shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Oppenheimer set a $80.00 price objective on shares of Six Flags Entertainment and gave the company a “buy” rating in a research report on Wednesday, October 24th. ValuEngine raised shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. B. Riley decreased their price objective on shares of Six Flags Entertainment from $81.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Finally, Macquarie raised shares of Six Flags Entertainment from an “underperform” rating to a “neutral” rating and set a $54.00 price objective for the company in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $68.63.
NYSE:SIX traded up $1.33 on Monday, reaching $59.82. The stock had a trading volume of 640,804 shares, compared to its average volume of 1,795,862. The stock has a market cap of $4.94 billion, a P/E ratio of 28.08 and a beta of 1.21. Six Flags Entertainment has a 12-month low of $51.91 and a 12-month high of $73.38.
Several hedge funds have recently modified their holdings of the company. Arizona State Retirement System raised its stake in Six Flags Entertainment by 1.4% during the second quarter. Arizona State Retirement System now owns 53,943 shares of the company’s stock worth $3,779,000 after acquiring an additional 763 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in Six Flags Entertainment by 31.7% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,210 shares of the company’s stock worth $225,000 after acquiring an additional 772 shares during the period. Redwood Investment Management LLC raised its stake in Six Flags Entertainment by 1.3% during the third quarter. Redwood Investment Management LLC now owns 71,537 shares of the company’s stock worth $4,995,000 after acquiring an additional 906 shares during the period. Brookstone Capital Management raised its stake in Six Flags Entertainment by 15.0% during the second quarter. Brookstone Capital Management now owns 7,467 shares of the company’s stock worth $523,000 after acquiring an additional 972 shares during the period. Finally, CIBC World Markets Inc. raised its stake in Six Flags Entertainment by 12.9% during the first quarter. CIBC World Markets Inc. now owns 8,623 shares of the company’s stock worth $537,000 after acquiring an additional 982 shares during the period. 98.41% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Marshall Barber sold 449 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $65.21, for a total transaction of $29,279.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Catherine Aslin sold 2,425 shares of the stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $66.85, for a total transaction of $162,111.25. The disclosure for this sale can be found here. Insiders have sold 2,934 shares of company stock worth $195,337 in the last ninety days. Corporate insiders own 6.90% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Thursday, November 29th will be given a dividend of $0.82 per share. This is a boost from Six Flags Entertainment’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Wednesday, November 28th. This represents a $3.28 annualized dividend and a dividend yield of 5.48%. Six Flags Entertainment’s dividend payout ratio (DPR) is presently 146.48%.
About Six Flags Entertainment
Six Flags Entertainment Corp. engages in the business of operating regional theme parks. It operates under the brand name Six Flags, which offers thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets. The company was founded by Angus Wynne in 1961 and is headquartered in Grand Prairie, TX.
Recommended Story: How are Outstanding Shares Different from Authorized Shares?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Six Flags Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Six Flags Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.