Six Flags Entertainment Corp. (SIX) Upgraded by Zacks Investment Research to Hold
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. “
Other research analysts have also recently issued research reports about the company. TheStreet raised Six Flags Entertainment Corp. from a hold rating to a buy rating in a report on Wednesday, July 27th. B. Riley reaffirmed a buy rating and issued a $65.00 price target on shares of Six Flags Entertainment Corp. in a report on Tuesday, July 26th. Hilliard Lyons initiated coverage on Six Flags Entertainment Corp. in a report on Tuesday, August 23rd. They issued a buy rating on the stock. Janney Montgomery Scott reaffirmed a buy rating and issued a $64.00 price target on shares of Six Flags Entertainment Corp. in a report on Thursday, September 15th. Finally, Credit Suisse Group AG set a $67.00 price target on Six Flags Entertainment Corp. and gave the company a buy rating in a report on Monday, September 12th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Six Flags Entertainment Corp. presently has a consensus rating of Buy and an average target price of $61.24.
Shares of Six Flags Entertainment Corp. (NYSE:SIX) traded down 0.33% on Tuesday, hitting $53.99. The company had a trading volume of 99,106 shares. Six Flags Entertainment Corp. has a 12-month low of $45.24 and a 12-month high of $62.69. The company has a 50 day moving average of $51.21 and a 200-day moving average of $55.88. The company has a market cap of $5.02 billion, a price-to-earnings ratio of 30.54 and a beta of 1.44.
Six Flags Entertainment Corp. (NYSE:SIX) last announced its earnings results on Wednesday, July 27th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.06. Six Flags Entertainment Corp. had a return on equity of 3,451.32% and a net margin of 13.19%. The firm had revenue of $407 million for the quarter, compared to the consensus estimate of $406.13 million. During the same period in the previous year, the firm earned $0.67 EPS. Six Flags Entertainment Corp.’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts forecast that Six Flags Entertainment Corp. will post $1.84 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Thursday, September 1st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date was Tuesday, August 30th. Six Flags Entertainment Corp.’s dividend payout ratio is 128.89%.
In other Six Flags Entertainment Corp. news, VP Lance C. Balk sold 20,000 shares of the business’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $59.11, for a total transaction of $1,182,200.00. Following the completion of the transaction, the vice president now owns 90,343 shares of the company’s stock, valued at approximately $5,340,174.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Walter Hawrylak sold 22,883 shares of the business’s stock in a transaction on 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. Company insiders own 7.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Six Flags Entertainment Corp. during the fourth quarter worth $40,431,000. Acadian Asset Management LLC bought a new position in shares of Six Flags Entertainment Corp. during the first quarter worth approximately $750,000. Aperio Group LLC raised its position in shares of Six Flags Entertainment Corp. by 21.7% in the first quarter. Aperio Group LLC now owns 7,059 shares of the company’s stock worth $392,000 after buying an additional 1,259 shares in the last quarter. IFP Advisors Inc raised its position in shares of Six Flags Entertainment Corp. by 1,044.7% in the first quarter. IFP Advisors Inc now owns 5,895 shares of the company’s stock worth $327,000 after buying an additional 5,380 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Six Flags Entertainment Corp. during the first quarter worth approximately $710,000. 88.53% of the stock is owned by hedge funds and other institutional investors.
Six Flags Entertainment Corp. Company Profile
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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