Brokerages predict that Six Flags Entertainment Corp (NYSE:SIX) will post earnings of ($1.05) per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Six Flags Entertainment’s earnings. The lowest EPS estimate is ($1.11) and the highest is ($0.96). Six Flags Entertainment posted earnings of ($0.82) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 28%. The business is expected to issue its next quarterly earnings report on Tuesday, April 28th.
According to Zacks, analysts expect that Six Flags Entertainment will report full-year earnings of $1.30 per share for the current year, with EPS estimates ranging from ($0.77) to $1.85. For the next fiscal year, analysts anticipate that the company will post earnings of $1.72 per share, with EPS estimates ranging from $1.37 to $2.01. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Six Flags Entertainment.
Six Flags Entertainment (NYSE:SIX) last posted its earnings results on Thursday, February 20th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). Six Flags Entertainment had a net margin of 12.04% and a negative return on equity of 26.50%. The firm had revenue of $261.00 million during the quarter, compared to the consensus estimate of $260.11 million. During the same period in the prior year, the company posted $0.93 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year.
A number of analysts have commented on the company. Zacks Investment Research upgraded Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 25th. Janney Montgomery Scott cut Six Flags Entertainment from a “buy” rating to a “neutral” rating and set a $38.00 target price for the company. in a research report on Friday, January 10th. Oppenheimer cut Six Flags Entertainment from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 18th. Jefferies Financial Group cut their target price on Six Flags Entertainment from $44.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, January 13th. Finally, Stifel Nicolaus cut their target price on Six Flags Entertainment from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $32.30.
In related news, Director Arik W. Ruchim acquired 50,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was acquired at an average cost of $23.25 per share, with a total value of $1,162,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mike Spanos acquired 16,075 shares of the stock in a transaction dated Monday, February 24th. The stock was bought at an average cost of $31.27 per share, with a total value of $502,665.25. Following the completion of the purchase, the chief executive officer now directly owns 70,456 shares in the company, valued at $2,203,159.12. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,494,016 shares of company stock valued at $41,264,882 in the last 90 days. 5.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of SIX. River Road Asset Management LLC increased its holdings in shares of Six Flags Entertainment by 171.5% in the 4th quarter. River Road Asset Management LLC now owns 1,554,699 shares of the company’s stock valued at $70,132,000 after acquiring an additional 981,975 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Six Flags Entertainment during the 4th quarter worth $42,091,000. Renaissance Technologies LLC grew its stake in Six Flags Entertainment by 1,034.2% during the 4th quarter. Renaissance Technologies LLC now owns 999,200 shares of the company’s stock worth $45,074,000 after buying an additional 911,100 shares during the last quarter. Capital Research Global Investors grew its stake in Six Flags Entertainment by 11.6% during the 4th quarter. Capital Research Global Investors now owns 7,946,163 shares of the company’s stock worth $358,451,000 after buying an additional 823,603 shares during the last quarter. Finally, Norges Bank purchased a new position in Six Flags Entertainment during the 4th quarter worth $31,185,000. 80.45% of the stock is owned by institutional investors and hedge funds.
SIX stock traded up $0.54 during trading on Thursday, reaching $15.58. The stock had a trading volume of 6,251,075 shares, compared to its average volume of 3,268,738. Six Flags Entertainment has a 52 week low of $8.75 and a 52 week high of $59.52. The stock’s 50 day moving average is $25.98 and its two-hundred day moving average is $40.70. The firm has a market cap of $1.10 billion, a PE ratio of 7.42, a PEG ratio of 1.14 and a beta of 1.27.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.42%. The ex-dividend date was Tuesday, March 3rd. Six Flags Entertainment’s dividend payout ratio is presently 44.64%.
About Six Flags Entertainment
Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.
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