Six Flags Entertainment (SIX) Earns Buy Rating from B. Riley

Six Flags Entertainment (NYSE:SIX)‘s stock had its “buy” rating reaffirmed by B. Riley in a report issued on Thursday, March 28th, Marketbeat reports. They presently have a $57.00 target price on the stock, down from their prior target price of $72.00. B. Riley’s target price would indicate a potential upside of 12.54% from the company’s previous close. B. Riley also issued estimates for Six Flags Entertainment’s Q3 2020 earnings at $2.38 EPS, Q4 2020 earnings at $0.43 EPS and FY2021 earnings at $3.37 EPS.

SIX has been the subject of several other research reports. Berenberg Bank began coverage on shares of Six Flags Entertainment in a research report on Wednesday, December 12th. They issued a “buy” rating and a $70.00 price target for the company. Zacks Investment Research upgraded shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Wells Fargo & Co upgraded shares of Six Flags Entertainment from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 17th. Oppenheimer dropped their price objective on shares of Six Flags Entertainment from $80.00 to $68.00 in a research note on Thursday, January 17th. Finally, ValuEngine cut shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $62.40.

Shares of SIX stock traded up $0.24 during trading on Thursday, reaching $50.65. The company’s stock had a trading volume of 1,069,365 shares, compared to its average volume of 1,224,134. The stock has a market capitalization of $4.27 billion, a P/E ratio of 15.68 and a beta of 1.13. Six Flags Entertainment has a 1-year low of $46.68 and a 1-year high of $73.38.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings data on Thursday, February 14th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.65. The business had revenue of $269.50 million during the quarter, compared to the consensus estimate of $284.50 million. Six Flags Entertainment had a net margin of 18.86% and a negative return on equity of 43.77%. The company’s 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 EPS. Equities analysts forecast that Six Flags Entertainment will post 2.79 earnings per share for the current fiscal year.

In other news, Director Usman Nabi bought 5,000 shares of Six Flags Entertainment stock in a transaction on Friday, March 8th. The shares were bought at an average cost of $50.77 per share, for a total transaction of $253,850.00. Following the acquisition, the director now owns 7,520 shares in the company, valued at $381,790.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kurt Matthew Cellar bought 15,000 shares of Six Flags Entertainment stock in a transaction on Tuesday, March 12th. The stock was purchased at an average price of $49.46 per share, for a total transaction of $741,900.00. Following the completion of the acquisition, the director now owns 70,116 shares in the company, valued at approximately $3,467,937.36. The disclosure for this purchase can be found here. Corporate insiders own 5.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Capital World Investors bought a new stake in shares of Six Flags Entertainment in the third quarter worth about $167,568,000. Oregon Public Employees Retirement Fund lifted its position in Six Flags Entertainment by 5,463.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,564,983 shares of the company’s stock valued at $28,000 after acquiring an additional 1,536,851 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Six Flags Entertainment by 2,852.4% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,033,017 shares of the company’s stock valued at $57,467,000 after acquiring an additional 998,028 shares during the last quarter. Norges Bank purchased a new stake in Six Flags Entertainment during the fourth quarter valued at approximately $38,458,000. Finally, Millennium Management LLC increased its stake in Six Flags Entertainment by 143.5% during the 4th quarter. Millennium Management LLC now owns 769,104 shares of the company’s stock valued at $42,785,000 after purchasing an additional 453,296 shares in the last quarter. Institutional investors and hedge funds own 91.25% of the company’s stock.

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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Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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