Brokerages Expect SeaWorld Entertainment, Inc. (NYSE:SEAS) Will Announce Quarterly Sales of $398.42 Million
Brokerages expect SeaWorld Entertainment, Inc. (NYSE:SEAS) to announce $398.42 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for SeaWorld Entertainment’s earnings. The lowest sales estimate is $392.10 million and the highest is $408.00 million. SeaWorld Entertainment reported sales of $371.14 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.4%. The business is expected to report its next earnings results before the market opens on Tuesday, August 8th.
On average, analysts expect that SeaWorld Entertainment will report full-year sales of $398.42 million for the current financial year, with estimates ranging from $1.35 billion to $1.37 billion. For the next year, analysts forecast that the company will post sales of $1.39 billion per share, with estimates ranging from $1.36 billion to $1.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover SeaWorld Entertainment.
SeaWorld Entertainment (NYSE:SEAS) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.53) by $0.13. The firm had revenue of $186.40 million for the quarter, compared to the consensus estimate of $205.59 million. SeaWorld Entertainment had a net margin of 0.79% and a return on equity of 3.66%. The business’s revenue for the quarter was down 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.56) earnings per share.
SEAS has been the topic of a number of analyst reports. FBR & Co reaffirmed a “buy” rating on shares of SeaWorld Entertainment in a research note on Monday, March 27th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of SeaWorld Entertainment in a research note on Thursday, April 6th. They set a “sell” rating and a $16.00 target price on the stock. SunTrust Banks, Inc. initiated coverage on shares of SeaWorld Entertainment in a research note on Wednesday, April 12th. They set a “buy” rating and a $22.00 target price on the stock. Janney Montgomery Scott reaffirmed a “buy” rating and set a $24.00 target price on shares of SeaWorld Entertainment in a research note on Thursday, April 13th. Finally, Stifel Nicolaus began coverage on shares of SeaWorld Entertainment in a research note on Thursday, April 20th. They issued a “buy” rating and a $23.00 price target on the stock. Five analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. SeaWorld Entertainment presently has an average rating of “Hold” and an average price target of $17.97.
In related news, major shareholder Delaware L.P. Sw sold 19,452,063 shares of SeaWorld Entertainment stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $23.00, for a total value of $447,397,449.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter J. Crage sold 3,000 shares of SeaWorld Entertainment stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $18.20, for a total transaction of $54,600.00. Following the completion of the transaction, the chief financial officer now owns 275,435 shares of the company’s stock, valued at approximately $5,012,917. The disclosure for this sale can be found here. Insiders purchased 3,540,475 shares of company stock valued at $63,638,585 in the last 90 days. Company insiders own 3.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Credit Agricole S A acquired a new position in shares of SeaWorld Entertainment during the fourth quarter worth $100,000. Airain ltd acquired a new position in shares of SeaWorld Entertainment during the first quarter worth $343,000. Alpha Windward LLC acquired a new position in shares of SeaWorld Entertainment during the second quarter worth $403,000. Oppenheimer Asset Management Inc. acquired a new position in shares of SeaWorld Entertainment during the first quarter worth $466,000. Finally, Paloma Partners Management Co acquired a new position in shares of SeaWorld Entertainment during the first quarter worth $486,000.
COPYRIGHT VIOLATION NOTICE: “Brokerages Expect SeaWorld Entertainment, Inc. (NYSE:SEAS) Will Announce Quarterly Sales of $398.42 Million” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/07/20/brokerages-expect-seaworld-entertainment-inc-nyseseas-will-announce-quarterly-sales-of-398-42-million.html.
Shares of SeaWorld Entertainment (NYSE SEAS) traded up 0.21% during trading on Thursday, reaching $14.65. 143,512 shares of the company traded hands. The firm has a 50 day moving average of $16.00 and a 200 day moving average of $17.64. SeaWorld Entertainment has a 52 week low of $11.77 and a 52 week high of $20.13. The stock has a market capitalization of $1.25 billion, a PE ratio of 129.65 and a beta of 0.75.
SeaWorld Entertainment Company Profile
SeaWorld Entertainment, Inc is a theme park and entertainment company. The Company owns or licenses a portfolio of brands, including SeaWorld, Sea Rescue and Busch Gardens. As of December 31, 2016, the Company had a diversified portfolio of 12 destination and regional theme parks that are located across the United States.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for SeaWorld Entertainment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SeaWorld Entertainment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.