Six Flags Entertainment (NYSE:SIX) Upgraded at Wedbush

Wedbush upgraded shares of Six Flags Entertainment (NYSE:SIX) from a neutral rating to an outperform rating in a report issued on Wednesday morning, Benzinga reports. They currently have $62.00 target price on the stock, up from their prior target price of $51.00. Wedbush also issued estimates for Six Flags Entertainment’s Q3 2019 earnings at $2.25 EPS, Q3 2019 earnings at $2.26 EPS, Q4 2019 earnings at $0.29 EPS, FY2019 earnings at $2.77 EPS, FY2019 earnings at $2.76 EPS, FY2020 earnings at $2.76 EPS, FY2020 earnings at $2.77 EPS, FY2021 earnings at $3.06 EPS and FY2021 earnings at $3.04 EPS.

SIX has been the topic of several other reports. ValuEngine cut shares of Six Flags Entertainment from a hold rating to a sell rating in a research report on Thursday, March 7th. Jefferies Financial Group initiated coverage on shares of Six Flags Entertainment in a report on Monday, April 22nd. They issued a hold rating and a $56.00 target price on the stock. TheStreet cut shares of Six Flags Entertainment from a b- rating to a c+ rating in a report on Thursday, March 7th. Zacks Investment Research cut shares of Six Flags Entertainment from a buy rating to a hold rating in a report on Friday, March 8th. Finally, Wells Fargo & Co dropped their target price on shares of Six Flags Entertainment from $62.00 to $49.00 and set a market perform rating on the stock in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $60.70.

Shares of NYSE:SIX opened at $50.58 on Wednesday. Six Flags Entertainment has a one year low of $46.68 and a one year high of $73.38. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 3.50 and a beta of 1.13.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.82) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.04. Six Flags Entertainment had a net margin of 18.40% and a negative return on equity of 41.58%. The firm had revenue of $128.19 million for the quarter, compared to analysts’ expectations of $123.63 million. During the same period in the previous year, the firm posted ($0.74) EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Six Flags Entertainment will post 2.79 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 30th were issued a $0.82 dividend. The ex-dividend date was Wednesday, May 29th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 6.48%. Six Flags Entertainment’s payout ratio is 101.55%.

Hedge funds have recently modified their holdings of the company. Synovus Financial Corp acquired a new position in Six Flags Entertainment in the 1st quarter valued at about $25,000. Ffcm LLC grew its stake in Six Flags Entertainment by 50.0% in the 4th quarter. Ffcm LLC now owns 492 shares of the company’s stock valued at $27,000 after buying an additional 164 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in 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 valued at $28,000 after buying an additional 1,536,851 shares during the last quarter. Next Capital Management LLC acquired a new position in Six Flags Entertainment in the 1st quarter valued at about $34,000. Finally, Pinnacle Bank acquired a new position in Six Flags Entertainment in the 4th quarter valued at about $58,000. 84.16% of the stock is currently owned by institutional investors.

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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