Six Flags Entertainment Corp (NYSE:SIX) announced a quarterly dividend on Thursday, November 15th, Wall Street Journal reports. Shareholders of record on Thursday, November 29th will be given a dividend of 0.82 per share on Monday, December 10th. This represents a $3.28 annualized dividend and a yield of 5.57%. The ex-dividend date is Wednesday, November 28th. This is a boost from Six Flags Entertainment’s previous quarterly dividend of $0.78.

Six Flags Entertainment has increased its dividend payment by an average of 10.7% per year over the last three years and has raised its dividend every year for the last 8 years. Six Flags Entertainment has a dividend payout ratio of 119.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Six Flags Entertainment to earn $2.89 per share next year, which means the company may not be able to cover its $3.28 annual dividend with an expected future payout ratio of 113.5%.

NYSE:SIX traded up $2.43 during mid-day trading on Thursday, hitting $58.84. The company’s stock had a trading volume of 1,353,674 shares, compared to its average volume of 1,110,059. Six Flags Entertainment has a 1 year low of $51.91 and a 1 year high of $73.38. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 27.62 and a beta of 1.21.

Six Flags Entertainment (NYSE:SIX) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.16). Six Flags Entertainment had a net margin of 20.30% and a negative return on equity of 35.16%. The business had revenue of $619.82 million during the quarter, compared to analysts’ expectations of $633.03 million. On average, research analysts predict that Six Flags Entertainment will post 2.61 EPS for the current year.

SIX has been the subject of a number of analyst reports. KeyCorp decreased their price objective on shares of Six Flags Entertainment from $72.00 to $69.00 and set an “overweight” rating for the company in a research report on Thursday, October 25th. SunTrust Banks decreased their price objective on shares of Six Flags Entertainment to $65.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Wedbush set a $55.00 price objective on shares of Six Flags Entertainment and gave the stock a “hold” rating in a research report on Thursday, October 25th. Oppenheimer set a $80.00 price objective on shares of Six Flags Entertainment and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Finally, ValuEngine upgraded shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $68.63.

In related news, insider Catherine Aslin sold 2,425 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $66.85, for a total transaction of $162,111.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Barber sold 449 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $65.21, for a total transaction of $29,279.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,934 shares of company stock valued at $195,337. Insiders own 5.50% of the company’s stock.

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Six Flags Entertainment Company Profile

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.

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Dividend History for Six Flags Entertainment (NYSE:SIX)

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