Credit Suisse Initiates Coverage on Seaworld Entertainment (SEAS)
Investment analysts at Credit Suisse started coverage on shares of Seaworld Entertainment (NASDAQ:SEAS) in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $23.00 price target on the stock. Credit Suisse’s price objective would suggest a potential upside of 23.26% from the company’s current price.
The analysts wrote, “Following its April 2013 IPO, the stock has significantly underperformed (-31% vs. +22% gain in the Russell 2000) owing to noise around Blackfish, disappointing results, and transition challenges from private to public ownership. This culminated on 8/13 when the company reported a difficult 2Q14, leading to significant sell-side capitulation. We are positive on the theme park sector owing to no new supply, opportunities for pricing, and potential for better attendance/ancillary spend as the economy recovers. While near-term catalysts may be limited, either this management team or a new regime capable of consistent execution may turn it around.”
A number of other firms have also recently commented on SEAS. Analysts at Barclays downgraded shares of Seaworld Entertainment from an “overweight” rating to an “underweight” rating in a research note on Thursday. They now have a $40.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Seaworld Entertainment in a research note on Thursday. They now have a $21.00 price target on the stock, down previously from $34.00. Finally, analysts at Macquarie downgraded shares of Seaworld Entertainment from an “outperform” rating to a “neutral” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Seaworld Entertainment has an average rating of “Hold” and an average target price of $28.96.
Shares of Seaworld Entertainment (NASDAQ:SEAS) opened at 18.66 on Monday. Seaworld Entertainment has a one year low of $17.83 and a one year high of $35.30. The stock’s 50-day moving average is $27.37 and its 200-day moving average is $30.31. The company has a market cap of $1.618 billion and a price-to-earnings ratio of 17.01.
Seaworld Entertainment (NASDAQ:SEAS) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by $0.16. The company had revenue of $405.20 million for the quarter, compared to the consensus estimate of $445.29 million. On average, analysts predict that Seaworld Entertainment will post $1.30 earnings per share for the current fiscal year.
SeaWorld Entertainment, Inc is a theme park and entertainment company. The Company is engaged in delivering personal, interactive and educational experiences that blend imagination with nature and enable its customers to celebrate, connect with and care for the natural world.
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