Six Flags Entertainment Corp. (SIX) Downgraded to “Sell” at Zacks Investment Research
Six Flags Entertainment Corp. (NYSE:SIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Six Flags Entertainment Corporation owns and operates regional parks. The Company has parks comprised of theme, water and zoological parks offering rides, water attractions, themed areas, concerts, shows, restaurants, game venues and retail outlets. The Company holds long-term licenses for theme park usage throughout the United States (except the Las Vegas metropolitan area), Canada, Mexico and other countries of certain Warner Bros. and DC Comics characters. These characters include Bugs Bunny, Daffy Duck, Tweety Bird, Yosemite Sam, Batman, Superman and others. In addition, it has certain rights to use the Hanna-Barbera and Cartoon Network characters, including Yogi Bear, Scooby-Doo, The Flintstones and others. The Company uses these characters to market its parks and to provide an enhanced family entertainment experience. Six Flags Entertainment Corporation is based in New York, NY. “
Several other analysts also recently weighed in on the stock. Janney Montgomery Scott reissued a “buy” rating and issued a $50.39 price target (down from $64.00) on shares of Six Flags Entertainment Corp. in a research note on Thursday, August 25th. Credit Suisse Group AG set a $67.00 price target on shares of Six Flags Entertainment Corp. and gave the stock a “buy” rating in a research note on Monday, September 12th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $65.00 price target on shares of Six Flags Entertainment Corp. in a research note on Tuesday, August 23rd. Hilliard Lyons started coverage on shares of Six Flags Entertainment Corp. in a research note on Tuesday, August 23rd. They issued a “buy” rating for the company. Finally, Wedbush downgraded shares of Six Flags Entertainment Corp. from an “outperform” rating to a “neutral” rating in a research note on Friday, September 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $61.24.
Shares of Six Flags Entertainment Corp. (NYSE:SIX) opened at 54.00 on Wednesday. The company has a 50-day moving average price of $51.06 and a 200-day moving average price of $55.87. The firm has a market capitalization of $5.02 billion, a P/E ratio of 30.54 and a beta of 1.56. Six Flags Entertainment Corp. has a 12-month low of $44.82 and a 12-month high of $62.69.
Six Flags Entertainment Corp. (NYSE:SIX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $407 million for the quarter, compared to the consensus estimate of $406.13 million. Six Flags Entertainment Corp. had a return on equity of 3,451.32% and a net margin of 13.19%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 earnings per share. Equities analysts predict that Six Flags Entertainment Corp. will post $1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Thursday, September 1st were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Tuesday, August 30th. Six Flags Entertainment Corp.’s dividend payout ratio is currently 128.89%.
In other Six Flags Entertainment Corp. news, VP Lance C. Balk sold 20,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $59.11, for a total value of $1,182,200.00. Following the sale, the vice president now owns 90,343 shares in the company, valued at $5,340,174.73. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Walter Hawrylak sold 22,883 shares of the company’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $50.47, for a total transaction of $1,154,905.01. The disclosure for this sale can be found here. Corporate insiders own 7.10% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Columbus Circle Investors acquired a new stake in shares of Six Flags Entertainment Corp. during the second quarter worth $65,948,000. Norges Bank acquired a new stake in shares of Six Flags Entertainment Corp. during the fourth quarter worth $40,431,000. Calamos Advisors LLC acquired a new stake in shares of Six Flags Entertainment Corp. during the second quarter worth $37,670,000. Vanguard Group Inc. boosted its stake in shares of Six Flags Entertainment Corp. by 8.9% in the second quarter. Vanguard Group Inc. now owns 5,619,046 shares of the company’s stock worth $325,623,000 after buying an additional 458,380 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Six Flags Entertainment Corp. by 105.9% in the first quarter. Renaissance Technologies LLC now owns 563,400 shares of the company’s stock worth $31,263,000 after buying an additional 289,800 shares during the period. Institutional investors and hedge funds own 88.53% of the company’s stock.
About Six Flags Entertainment Corp.
Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 20 regional theme and water parks. Its parks occupy approximately 4,500 acres of land, and it owns approximately 800 acres of other developable land.
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