Citigroup Issues Pessimistic Forecast for Six Flags Entertainment (NYSE:FUN) Stock Price

Six Flags Entertainment (NYSE:FUN) had its target price reduced by stock analysts at Citigroup from $33.00 to $25.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 54.52% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Mizuho set a $28.00 price target on shares of Six Flags Entertainment in a research report on Tuesday, November 4th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (down previously from $30.00) on shares of Six Flags Entertainment in a research note on Monday. Barclays lowered their price target on Six Flags Entertainment from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Monday. Guggenheim set a $43.00 price objective on Six Flags Entertainment and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Six Flags Entertainment in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $29.07.

Six Flags Entertainment Price Performance

Shares of NYSE:FUN opened at $16.18 on Tuesday. The business has a fifty day moving average price of $22.19 and a 200-day moving average price of $27.80. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42. The company has a market capitalization of $1.64 billion, a PE ratio of -3.34 and a beta of 0.69. Six Flags Entertainment has a 1-year low of $14.81 and a 1-year high of $49.77.

Six Flags Entertainment (NYSE:FUN) last announced its quarterly earnings data on Friday, November 7th. The company reported ($11.77) EPS for the quarter, missing the consensus estimate of $2.24 by ($14.01). The firm had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the company posted $4.21 earnings per share. As a group, equities analysts expect that Six Flags Entertainment will post 0.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Six Flags Entertainment

Large investors have recently added to or reduced their stakes in the stock. Aurora Investment Counsel boosted its holdings in Six Flags Entertainment by 114.8% in the second quarter. Aurora Investment Counsel now owns 33,674 shares of the company’s stock worth $1,025,000 after acquiring an additional 17,995 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Six Flags Entertainment in the 2nd quarter valued at approximately $656,000. Balefire LLC boosted its stake in Six Flags Entertainment by 73.7% in the 2nd quarter. Balefire LLC now owns 91,556 shares of the company’s stock worth $2,786,000 after purchasing an additional 38,832 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Six Flags Entertainment by 127.3% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 92,328 shares of the company’s stock valued at $2,810,000 after purchasing an additional 51,713 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in shares of Six Flags Entertainment by 29.7% in the second quarter. State of New Jersey Common Pension Fund D now owns 54,325 shares of the company’s stock worth $1,653,000 after acquiring an additional 12,425 shares during the period. 64.65% of the stock is owned by hedge funds and other institutional investors.

About Six Flags Entertainment

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.