Six Flags Entertainment Corp (SIX) Forecasted to Earn Q2 2017 Earnings of $0.80 Per Share

Six Flags Entertainment Corp (NYSE:SIX) – Analysts at SunTrust Banks raised their Q2 2017 earnings per share (EPS) estimates for shares of Six Flags Entertainment Corp in a note issued to investors on Wednesday, according to Zacks Investment Research. SunTrust Banks analyst M. Swartz now expects that the company will post earnings of $0.80 per share for the quarter, up from their prior estimate of $0.78. SunTrust Banks has a “Buy” rating and a $66.00 price objective on the stock. SunTrust Banks also issued estimates for Six Flags Entertainment Corp’s Q3 2017 earnings at $1.88 EPS and FY2018 earnings at $2.40 EPS.

SIX has been the topic of several other reports. TheStreet downgraded shares of Six Flags Entertainment Corp from a “b-” rating to a “c+” rating in a research note on Thursday, March 2nd. Janney Montgomery Scott reissued a “buy” rating and set a $67.00 target price (up from $62.00) on shares of Six Flags Entertainment Corp in a research note on Thursday, February 23rd. They noted that the move was a valuation call. Wedbush reissued an “outperform” rating and set a $64.00 target price on shares of Six Flags Entertainment Corp in a research note on Sunday, April 2nd. Hilliard Lyons downgraded shares of Six Flags Entertainment Corp from a “buy” rating to a “neutral” rating in a research note on Thursday, April 27th. Finally, Goldman Sachs Group Inc reissued a “neutral” rating and set a $69.00 target price on shares of Six Flags Entertainment Corp in a research note on Monday, May 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Six Flags Entertainment Corp presently has an average rating of “Buy” and an average price target of $65.64.

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

TRADEMARK VIOLATION NOTICE: “Six Flags Entertainment Corp (SIX) Forecasted to Earn Q2 2017 Earnings of $0.80 Per Share” was posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/05/19/six-flags-entertainment-corp-expected-to-earn-q2-2017-earnings-of-0-80-per-share-six-updated-updated.html.

Six Flags Entertainment Corp (NYSE:SIX) traded down 0.49% during trading on Friday, reaching $61.44. The company’s stock had a trading volume of 719,255 shares. Six Flags Entertainment Corp has a 52 week low of $47.61 and a 52 week high of $65.19. The firm has a 50-day moving average price of $60.82 and a 200-day moving average price of $59.47. The firm has a market capitalization of $5.57 billion, a P/E ratio of 53.85 and a beta of 1.18.

Six Flags Entertainment Corp (NYSE:SIX) last released its quarterly earnings results on Wednesday, April 26th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.03. The company had revenue of $99.50 million during the quarter, compared to the consensus estimate of $107.58 million. Six Flags Entertainment Corp had a negative return on equity of 297.44% and a net margin of 9.14%. Six Flags Entertainment Corp’s revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.51) earnings per share.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Thursday, May 25th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Tuesday, May 23rd. Six Flags Entertainment Corp’s dividend payout ratio is presently 204.80%.

In related news, Director Usman Nabi sold 5,060,628 shares of the company’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $61.36, for a total value of $310,520,134.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brett Petit sold 20,000 shares of the company’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $64.95, for a total transaction of $1,299,000.00. Following the completion of the sale, the vice president now owns 150,433 shares of the company’s stock, valued at $9,770,623.35. The disclosure for this sale can be found here. Insiders sold 5,159,620 shares of company stock valued at $316,956,774 over the last quarter. 7.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in SIX. Nationwide Fund Advisors boosted its stake in Six Flags Entertainment Corp by 28.8% in the third quarter. Nationwide Fund Advisors now owns 128,150 shares of the company’s stock worth $6,870,000 after buying an additional 28,650 shares during the period. HL Financial Services LLC purchased a new stake in Six Flags Entertainment Corp during the third quarter worth about $440,000. K.J. Harrison & Partners Inc boosted its stake in Six Flags Entertainment Corp by 46.2% in the third quarter. K.J. Harrison & Partners Inc now owns 38,000 shares of the company’s stock worth $2,037,000 after buying an additional 12,000 shares during the period. Morgan Dempsey Capital Management LLC boosted its stake in Six Flags Entertainment Corp by 28.8% in the third quarter. Morgan Dempsey Capital Management LLC now owns 79,176 shares of the company’s stock worth $4,245,000 after buying an additional 17,685 shares during the period. Finally, Emerald Advisers Inc. PA purchased a new stake in Six Flags Entertainment Corp during the third quarter worth about $2,887,000. Institutional investors own 83.76% of the company’s stock.

About Six Flags Entertainment Corp

Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.

5 Day Chart for NYSE:SIX

Get a free copy of the Zacks research report on Six Flags Entertainment Corp (SIX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Six Flags Entertainment Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Six Flags Entertainment Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply