Six Flags Entertainment Corp. (SIX) Raised to “Hold” at Zacks Investment Research
Six Flags Entertainment Corp. (NYSE:SIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
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. “
SIX has been the subject of a number of other reports. FBR & Co upgraded shares of Six Flags Entertainment Corp. from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $58.00 to $64.00 in a report on Friday, April 1st. Sterne Agee CRT initiated coverage on shares of Six Flags Entertainment Corp. in a report on Tuesday, March 29th. They set a “neutral” rating and a $58.00 target price for the company. Wedbush increased their target price on shares of Six Flags Entertainment Corp. from $58.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, April 4th. Janney Montgomery Scott reiterated a “buy” rating and set a $64.00 target price (up from $60.00) on shares of Six Flags Entertainment Corp. in a report on Tuesday, April 5th. Finally, Oppenheimer Holdings Inc. increased their target price on shares of Six Flags Entertainment Corp. from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, April 6th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $61.24.
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Shares of Six Flags Entertainment Corp. (NYSE:SIX) traded down 0.85% during mid-day trading on Tuesday, reaching $52.51. The company had a trading volume of 764,490 shares. The company has a market capitalization of $4.88 billion, a P/E ratio of 29.70 and a beta of 1.44. Six Flags Entertainment Corp. has a 12-month low of $45.24 and a 12-month high of $62.69. The firm has a 50-day moving average of $51.38 and a 200-day moving average of $55.82.
Six Flags Entertainment Corp. (NYSE:SIX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by $0.06. Six Flags Entertainment Corp. had a net margin of 13.19% and a return on equity of 3,451.32%. The business had revenue of $407 million for the quarter, compared to analysts’ expectations of $406.13 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities analysts anticipate that Six Flags Entertainment Corp. will post $1.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date was Tuesday, August 30th. Six Flags Entertainment Corp.’s dividend payout ratio is 128.89%.
In related news, SVP Walter Hawrylak sold 22,883 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $50.47, for a total transaction of $1,154,905.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lance C. Balk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $59.11, for a total transaction of $1,182,200.00. Following the sale, the vice president now directly owns 90,343 shares of the company’s stock, valued at approximately $5,340,174.73. The disclosure for this sale can be found here. Company insiders own 7.10% of the company’s stock.
Several large investors have recently made changes to their positions in SIX. Janus Capital Management increased its stake in shares of Six Flags Entertainment Corp. by 1.7% in the third quarter. Janus Capital Management now owns 3,797,806 shares of the company’s stock valued at $173,863,000 after buying an additional 65,266 shares during the period. Sei Investments Co. increased its stake in shares of Six Flags Entertainment Corp. by 186.3% in the fourth quarter. Sei Investments Co. now owns 49,425 shares of the company’s stock valued at $2,715,000 after buying an additional 32,160 shares during the period. Rhumbline Advisers increased its stake in shares of Six Flags Entertainment Corp. by 1.3% in the fourth quarter. Rhumbline Advisers now owns 68,809 shares of the company’s stock valued at $3,780,000 after buying an additional 870 shares during the period. California Public Employees Retirement System increased its stake in shares of Six Flags Entertainment Corp. by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 282,500 shares of the company’s stock valued at $15,521,000 after buying an additional 3,500 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Six Flags Entertainment Corp. by 7.0% in the fourth quarter. Vanguard Group Inc. now owns 5,280,577 shares of the company’s stock valued at $290,115,000 after buying an additional 344,091 shares during the period. 88.53% of the stock is owned by institutional investors.
About Six Flags Entertainment Corp.
Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 20 regional theme and water parks. Its parks occupy approximately 4,500 acres of land, and it owns approximately 800 acres of other developable land.
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