Zacks Investment Research Upgrades SeaWorld Entertainment Inc. (SEAS) to “Hold”
SeaWorld Entertainment Inc. (NYSE:SEAS) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “SeaWorld Entertainment, Inc. is a theme park and entertainment company operating primarily in the United States. The company owns and operates U.S. theme parks, including the popular SeaWorld(R), Busch Gardens(R) and Sesame Place(R) brands. SeaWorld Entertainment, Inc. is headquartered in Orlando, Florida. “
A number of other equities analysts also recently issued reports on SEAS. JPMorgan Chase & Co. cut their target price on SeaWorld Entertainment from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 5th. FBR & Co cut their target price on SeaWorld Entertainment from $23.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Bank of America Corp. restated a “sell” rating and issued a $16.00 price target on shares of SeaWorld Entertainment in a report on Wednesday, September 21st. Macquarie set a $13.00 price target on SeaWorld Entertainment and gave the stock a “hold” rating in a report on Tuesday, September 20th. Finally, KeyCorp lowered their price target on SeaWorld Entertainment from $22.00 to $17.00 and set an “overweight” rating on the stock in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. SeaWorld Entertainment presently has a consensus rating of “Hold” and a consensus target price of $15.07.
Shares of SeaWorld Entertainment (NYSE:SEAS) opened at 14.37 on Thursday. The stock has a market cap of $1.23 billion, a P/E ratio of 59.14 and a beta of 0.58. The firm has a 50-day moving average price of $13.11 and a 200-day moving average price of $16.12. SeaWorld Entertainment has a 52-week low of $11.77 and a 52-week high of $21.85.
SeaWorld Entertainment (NYSE:SEAS) last issued its earnings results on Thursday, August 4th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The business earned $371.10 million during the quarter, compared to the consensus estimate of $377.19 million. SeaWorld Entertainment had a return on equity of 12.97% and a net margin of 1.52%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 EPS. On average, analysts anticipate that SeaWorld Entertainment will post $0.60 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Thursday, September 29th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, September 27th. SeaWorld Entertainment’s dividend payout ratio is presently 181.83%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of SeaWorld Entertainment by 7.9% in the second quarter. BlackRock Inc. now owns 8,201 shares of the company’s stock worth $117,000 after buying an additional 597 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of SeaWorld Entertainment by 6.0% in the second quarter. Teacher Retirement System of Texas now owns 9,353 shares of the company’s stock worth $134,000 after buying an additional 533 shares in the last quarter. Eqis Capital Management Inc. acquired a new position in shares of SeaWorld Entertainment during the second quarter worth $144,000. Pitcairn Co. acquired a new position in shares of SeaWorld Entertainment during the second quarter worth $163,000. Finally, Laurion Capital Management LP acquired a new position in shares of SeaWorld Entertainment during the second quarter worth $182,000. 96.74% of the stock is currently owned by institutional investors.
SeaWorld Entertainment Company Profile
SeaWorld Entertainment, Inc is a theme park and entertainment company. It owns or licenses a portfolio of brands, including SeaWorld, Sea Rescue and Busch Gardens. It has a diversified portfolio of approximately 10 destination and regional theme parks that are located across the United States. Its theme parks feature a range of rides, shows and other attractions.
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