Six Flags Entertainment (NYSE:FUN) Price Target Lowered to $24.00 at Mizuho

Six Flags Entertainment (NYSE:FUN) had its price objective trimmed by Mizuho from $28.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research firms have also weighed in on FUN. Guggenheim set a $43.00 price objective on shares of Six Flags Entertainment and gave the company a “buy” rating in a research note on Thursday, August 7th. Jefferies Financial Group downgraded shares of Six Flags Entertainment from a “buy” rating to a “hold” rating and decreased their price target for the company from $41.00 to $25.00 in a research note on Thursday, August 7th. Oppenheimer dropped their price objective on shares of Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Barclays reduced their target price on Six Flags Entertainment from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Capital One Financial set a $28.00 price target on Six Flags Entertainment in a research note on Tuesday, October 7th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $29.07.

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock opened at $16.18 on Wednesday. The business has a 50-day moving average price of $22.19 and a two-hundred day moving average price of $27.80. Six Flags Entertainment has a 1-year low of $14.81 and a 1-year high of $49.77. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The company has a market cap of $1.64 billion, a P/E ratio of -3.34 and a beta of 0.69.

Six Flags Entertainment (NYSE:FUN) last announced its earnings results on Friday, November 7th. The company reported ($11.77) EPS for the quarter, missing the consensus estimate of $2.24 by ($14.01). The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.21 EPS. As a group, analysts anticipate that Six Flags Entertainment will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Six Flags Entertainment

Large investors have recently added to or reduced their stakes in the business. Rush Island Management LP acquired a new position in Six Flags Entertainment during the 2nd quarter valued at about $115,454,000. Darlington Partners Capital Management LP grew its holdings in Six Flags Entertainment by 20.2% during the second quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock worth $264,741,000 after buying an additional 1,460,000 shares in the last quarter. Dendur Capital LP grew its holdings in Six Flags Entertainment by 41.1% during the second quarter. Dendur Capital LP now owns 4,433,500 shares of the company’s stock worth $134,911,000 after buying an additional 1,292,500 shares in the last quarter. Long Pond Capital LP raised its position in Six Flags Entertainment by 55.2% in the 2nd quarter. Long Pond Capital LP now owns 3,296,660 shares of the company’s stock valued at $100,317,000 after buying an additional 1,172,101 shares during the last quarter. Finally, Alberta Investment Management Corp bought a new position in Six Flags Entertainment during the 2nd quarter valued at $18,288,000. Institutional investors own 64.65% of the company’s stock.

Six Flags Entertainment Company Profile

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.