Wedbush Brokers Reduce Earnings Estimates for Six Flags Entertainment Corp (NYSE:SIX)

Six Flags Entertainment Corp (NYSE:SIX) – Equities research analysts at Wedbush decreased their Q3 2019 earnings estimates for shares of Six Flags Entertainment in a research note issued on Thursday, June 13th. Wedbush analyst J. Hardiman now forecasts that the company will post earnings of $2.25 per share for the quarter, down from their previous estimate of $2.30. Wedbush has a “Neutral” rating and a $50.18 price objective on the stock. Wedbush also issued estimates for Six Flags Entertainment’s Q4 2019 earnings at $0.29 EPS, FY2019 earnings at $2.76 EPS, FY2020 earnings at $2.76 EPS and FY2021 earnings at $3.04 EPS.

SIX has been the subject of a number of other reports. ValuEngine raised shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, February 22nd. Zacks Investment Research cut shares of Six Flags Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. TheStreet cut shares of Six Flags Entertainment from a “b-” rating to a “c+” rating in a research note on Thursday, March 7th. Wells Fargo & Co reduced their price objective on shares of Six Flags Entertainment from $62.00 to $49.00 and set a “market perform” rating for the company in a research note on Monday, March 25th. Finally, B. Riley reissued 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $59.52.

Shares of NYSE SIX opened at $51.51 on Monday. The firm has a market capitalization of $4.34 billion, a PE ratio of 15.95, a PEG ratio of 3.53 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 announced its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.82) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.86) by $0.04. The firm had revenue of $128.19 million during the quarter, compared to analysts’ expectations of $123.63 million. Six Flags Entertainment had a net margin of 18.40% and a negative return on equity of 41.58%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.74) earnings per share.

Institutional investors and hedge funds have recently bought and sold shares of the stock. MML Investors Services LLC grew its stake in Six Flags Entertainment by 33.3% during the fourth quarter. MML Investors Services LLC now owns 27,419 shares of the company’s stock valued at $1,525,000 after acquiring an additional 6,842 shares in the last quarter. Comerica Bank grew its stake in Six Flags Entertainment by 37.0% during the fourth quarter. Comerica Bank now owns 62,332 shares of the company’s stock valued at $3,812,000 after acquiring an additional 16,850 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Six Flags Entertainment during the fourth quarter valued at $2,008,000. Burney Co. grew its stake in Six Flags Entertainment by 94.2% during the fourth quarter. Burney Co. now owns 14,641 shares of the company’s stock valued at $814,000 after acquiring an additional 7,103 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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 buying an additional 64,427 shares in the last quarter. 84.23% of the stock is owned by institutional investors.

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 30th were paid a dividend of $0.82 per share. The ex-dividend date was Wednesday, May 29th. This represents a $3.28 annualized dividend and a yield of 6.37%. Six Flags Entertainment’s payout ratio is 101.55%.

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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