B. Riley downgraded shares of Six Flags Entertainment (NYSE:SIX) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. They currently have $13.00 price target on the stock, down from their prior price target of $28.00. B. Riley also issued estimates for Six Flags Entertainment’s Q1 2020 earnings at ($1.11) EPS, Q2 2020 earnings at ($0.56) EPS, Q3 2020 earnings at $2.11 EPS, Q4 2020 earnings at $0.23 EPS, FY2020 earnings at $0.66 EPS, Q2 2021 earnings at $0.87 EPS, Q3 2021 earnings at $1.99 EPS, Q4 2021 earnings at $0.16 EPS and FY2021 earnings at $2.01 EPS.
SIX has been the subject of several other research reports. KeyCorp lowered their price target on shares of Six Flags Entertainment from $50.00 to $45.00 and set an overweight rating for the company in a research report on Friday, February 21st. Wells Fargo & Co lowered their price target on shares of Six Flags Entertainment from to and set an underweight rating for the company in a research report on Friday, February 21st. Oppenheimer cut shares of Six Flags Entertainment from an outperform rating to a market perform rating in a research report on Wednesday, March 18th. Wedbush lowered their price target on shares of Six Flags Entertainment from $34.00 to $31.00 and set a neutral rating for the company in a research report on Friday, February 21st. Finally, ValuEngine cut shares of Six Flags Entertainment from a hold rating to a sell rating in a research report on Friday, March 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $32.30.
Shares of NYSE:SIX opened at $15.58 on Monday. Six Flags Entertainment has a one year low of $8.75 and a one year high of $59.52. The company has a 50 day moving average of $25.98 and a 200-day moving average of $40.70. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 1.14 and a beta of 1.27.
Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.30). Six Flags Entertainment had a negative return on equity of 26.50% and a net margin of 12.04%. The business had revenue of $261.00 million for the quarter, compared to analyst estimates of $260.11 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Six Flags Entertainment will post 1.42 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.42%. The ex-dividend date of this dividend was Tuesday, March 3rd. Six Flags Entertainment’s dividend payout ratio is currently 44.64%.
In other news, CEO Mike Spanos acquired 16,075 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average price of $31.27 per share, for a total transaction of $502,665.25. Following the completion of the acquisition, the chief executive officer now owns 70,456 shares in the company, valued at $2,203,159.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arik W. Ruchim acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average price of $23.25 per share, with a total value of $1,162,500.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,494,016 shares of company stock valued at $41,264,882. Corporate insiders own 5.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in Six Flags Entertainment by 27.1% in the fourth quarter. Franklin Resources Inc. now owns 24,524 shares of the company’s stock valued at $1,106,000 after buying an additional 5,236 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Six Flags Entertainment by 2.3% in the fourth quarter. Nuveen Asset Management LLC now owns 377,220 shares of the company’s stock valued at $17,017,000 after buying an additional 8,541 shares in the last quarter. Norges Bank bought a new position in Six Flags Entertainment in the fourth quarter valued at approximately $31,185,000. Verus Capital Partners LLC bought a new position in Six Flags Entertainment in the fourth quarter valued at approximately $123,000. Finally, Pearl River Capital LLC bought a new position in Six Flags Entertainment in the fourth quarter valued at approximately $490,000. 80.45% of the stock is currently owned by hedge funds and other institutional investors.
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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