Zacks Investment Research Lowers Six Flags Entertainment (SIX) to Sell
Zacks Investment Research downgraded shares of Six Flags Entertainment (NYSE:SIX) from a hold rating to a sell rating in a research report released on Friday.
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. “
Several other equities analysts also recently weighed in on SIX. B. Riley reaffirmed a buy rating on shares of Six Flags Entertainment in a research report on Wednesday, November 1st. SunTrust Banks reaffirmed a buy rating and issued a $70.00 target price on shares of Six Flags Entertainment in a research report on Friday, October 27th. FBR & Co reaffirmed a buy rating and issued a $65.00 target price on shares of Six Flags Entertainment in a research report on Monday, September 25th. Stifel Nicolaus reaffirmed a buy rating and issued a $72.00 target price on shares of Six Flags Entertainment in a research report on Thursday, October 12th. Finally, TheStreet raised Six Flags Entertainment from a c+ rating to a b- rating in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Six Flags Entertainment presently has a consensus rating of Hold and an average target price of $67.44.
Six Flags Entertainment (SIX) traded down $0.27 during midday trading on Friday, reaching $65.75. The company’s stock had a trading volume of 28,403 shares, compared to its average volume of 790,840. The firm has a market cap of $5,530.00, a P/E ratio of 31.46, a P/E/G ratio of 3.58 and a beta of 1.18. The company has a debt-to-equity ratio of -3.53, a quick ratio of 0.71 and a current ratio of 0.80. Six Flags Entertainment has a 52 week low of $51.25 and a 52 week high of $67.93.
Six Flags Entertainment (NYSE:SIX) last released its earnings results on Wednesday, October 25th. The company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.31. The company had revenue of $580.40 million during the quarter, compared to the consensus estimate of $583.59 million. Six Flags Entertainment had a negative return on equity of 47.41% and a net margin of 13.24%. Six Flags Entertainment’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. sell-side analysts anticipate that Six Flags Entertainment will post 2.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Thursday, November 30th were given a dividend of $0.70 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This is an increase from Six Flags Entertainment’s previous quarterly dividend of $0.64. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.26%. Six Flags Entertainment’s payout ratio is currently 133.97%.
In other news, CEO James Reid-Anderson sold 41,008 shares of the business’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $65.06, for a total transaction of $2,667,980.48. Following the completion of the transaction, the chief executive officer now directly owns 3,570,602 shares of the company’s stock, valued at $232,303,366.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 281,085 shares of company stock valued at $18,702,788. Corporate insiders own 6.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SIX. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Six Flags Entertainment by 9.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,637 shares of the company’s stock valued at $157,000 after purchasing an additional 225 shares in the last quarter. First Trust Advisors LP acquired a new position in Six Flags Entertainment in the third quarter valued at approximately $205,000. Csenge Advisory Group acquired a new position in Six Flags Entertainment in the third quarter valued at approximately $238,000. Oppenheimer & Co. Inc. acquired a new position in Six Flags Entertainment in the second quarter valued at approximately $255,000. Finally, BT Investment Management Ltd acquired a new position in Six Flags Entertainment in the third quarter valued at approximately $262,000. 99.45% of the stock is owned by hedge funds and other institutional investors.
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About Six Flags Entertainment
Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.
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