SeaWorld Entertainment Inc (SEAS) Downgraded by Citigroup Inc to Sell

Citigroup Inc lowered shares of SeaWorld Entertainment Inc (NYSE:SEAS) from a neutral rating to a sell rating in a report issued on Friday. Citigroup Inc currently has $15.00 price target on the stock, down from their prior price target of $19.00.

Other equities research analysts have also recently issued reports about the stock. Janney Montgomery Scott upgraded shares of SeaWorld Entertainment from a neutral rating to a buy rating and lifted their price objective for the company from $16.00 to $24.00 in a research note on Tuesday, December 13th. Zacks Investment Research upgraded shares of SeaWorld Entertainment from a hold rating to a buy rating and set a $21.00 price target on the stock in a research report on Wednesday, January 11th. FBR & Co reiterated a buy rating on shares of SeaWorld Entertainment in a research report on Thursday, December 15th. Jefferies Group LLC reiterated a buy rating and issued a $24.00 price target on shares of SeaWorld Entertainment in a research report on Tuesday, February 21st. Finally, Macquarie upgraded shares of SeaWorld Entertainment from a neutral rating to an outperform rating and set a $22.00 price target on the stock in a research report on Wednesday, December 14th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $17.19.

SeaWorld Entertainment (NYSE:SEAS) traded down 1.60% during midday trading on Friday, hitting $17.83. 967,354 shares of the company’s stock traded hands. The company has a 50 day moving average of $18.68 and a 200-day moving average of $16.69. SeaWorld Entertainment has a 52 week low of $11.77 and a 52 week high of $21.84. The company’s market capitalization is $1.52 billion.

SeaWorld Entertainment (NYSE:SEAS) last issued its quarterly earnings data on Tuesday, February 28th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.02. SeaWorld Entertainment had a negative net margin of 0.87% and a positive return on equity of 6.17%. The company had revenue of $267.60 million for the quarter, compared to the consensus estimate of $268.46 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. SeaWorld Entertainment’s revenue for the quarter was down .1% compared to the same quarter last year. Equities research analysts predict that SeaWorld Entertainment will post $0.75 earnings per share for the current year.

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Institutional investors have recently modified their holdings of the company. Investment Management of Virginia LLC boosted its position in shares of SeaWorld Entertainment by 155.4% in the third quarter. Investment Management of Virginia LLC now owns 138,475 shares of the company’s stock worth $1,867,000 after buying an additional 84,260 shares in the last quarter. Olstein Capital Management L.P. boosted its position in shares of SeaWorld Entertainment by 41.8% in the third quarter. Olstein Capital Management L.P. now owns 544,495 shares of the company’s stock worth $7,340,000 after buying an additional 160,640 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of SeaWorld Entertainment during the third quarter worth $3,770,000. Wells Fargo & Company MN boosted its position in shares of SeaWorld Entertainment by 3.2% in the third quarter. Wells Fargo & Company MN now owns 3,414,509 shares of the company’s stock worth $46,028,000 after buying an additional 105,438 shares in the last quarter. Finally, Strs Ohio boosted its position in shares of SeaWorld Entertainment by 7.1% in the third quarter. Strs Ohio now owns 1,500,000 shares of the company’s stock worth $20,220,000 after buying an additional 100,000 shares in the last quarter. 91.42% of the stock is currently owned by hedge funds and other institutional investors.

About SeaWorld Entertainment

SeaWorld Entertainment, Inc is a theme park and entertainment company. It owns or licenses a portfolio of brands, including SeaWorld, Sea Rescue and Busch Gardens. It has a diversified portfolio of approximately 10 destination and regional theme parks that are located across the United States. Its theme parks feature a range of rides, shows and other attractions.

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