Six Flags Entertainment Corp (SIX) Expected to Announce Quarterly Sales of $122.82 Million

Wall Street brokerages expect Six Flags Entertainment Corp (NYSE:SIX) to report $122.82 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Six Flags Entertainment’s earnings. The lowest sales estimate is $113.00 million and the highest is $128.70 million. Six Flags Entertainment reported sales of $128.96 million during the same quarter last year, which indicates a negative year over year growth rate of 4.8%. The business is expected to announce its next earnings report after the market closes on Tuesday, April 23rd.

According to Zacks, analysts expect that Six Flags Entertainment will report full year sales of $1.52 billion for the current fiscal year, with estimates ranging from $1.51 billion to $1.55 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.59 billion, with estimates ranging from $1.56 billion to $1.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Six Flags Entertainment.

Six Flags Entertainment (NYSE:SIX) last announced its quarterly earnings results on Thursday, February 14th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.65. The company had revenue of $269.50 million during the quarter, compared to analysts’ expectations of $284.50 million. Six Flags Entertainment had a negative return on equity of 43.77% and a net margin of 18.86%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share.

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Six Flags Entertainment from a “sell” rating to a “hold” rating and set a $62.00 price objective on the stock in a research note on Saturday, February 16th. ValuEngine upgraded Six Flags Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. B. Riley reiterated a “buy” rating and issued a $57.00 price objective (down from $72.00) on shares of Six Flags Entertainment in a research note on Thursday, March 28th. Oppenheimer set a $63.00 price objective on Six Flags Entertainment and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, TheStreet lowered Six Flags Entertainment from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $62.40.

Six Flags Entertainment stock opened at $50.65 on Friday. The stock has a market capitalization of $4.27 billion, a PE ratio of 15.68 and a beta of 1.13. Six Flags Entertainment has a 52 week low of $46.68 and a 52 week high of $73.38.

In other news, Director Usman Nabi purchased 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were purchased at an average cost of $50.77 per share, for a total transaction of $253,850.00. Following the completion of the purchase, the director now directly owns 7,520 shares of the company’s stock, valued at approximately $381,790.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Marshall Barber sold 1,275 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $56.48, for a total value of $72,012.00. Following the transaction, the chief financial officer now owns 82,722 shares in the company, valued at $4,672,138.56. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Six Flags Entertainment by 1.4% in the 4th quarter. BlackRock Inc. now owns 6,410,933 shares of the company’s stock worth $356,641,000 after acquiring an additional 85,620 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Six Flags Entertainment by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,085,399 shares of the company’s stock worth $116,011,000 after acquiring an additional 64,427 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Six Flags Entertainment by 5,463.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,564,983 shares of the company’s stock worth $28,000 after acquiring an additional 1,536,851 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Six Flags Entertainment by 46.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,245,793 shares of the company’s stock worth $69,303,000 after acquiring an additional 395,724 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its holdings in shares of Six Flags Entertainment by 2,852.4% in the 4th quarter. Westfield Capital Management Co. LP now owns 1,033,017 shares of the company’s stock worth $57,467,000 after acquiring an additional 998,028 shares in the last quarter. Hedge funds and other institutional investors own 91.25% of the company’s stock.

Six Flags Entertainment Company Profile

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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Earnings History and Estimates for Six Flags Entertainment (NYSE:SIX)

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