Zacks Investment Research Upgrades SeaWorld Entertainment (NYSE:SEAS) to “Buy”

SeaWorld Entertainment (NYSE:SEAS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The brokerage currently has a $37.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 16.57% from the stock’s current price.

According to Zacks, “SeaWorld Entertainment, Inc. is a theme park and entertainment company operating primarily in the United States. The company owns and operates U.S. theme parks, including the popular SeaWorld(R), Busch Gardens(R) and Sesame Place(R) brands. SeaWorld Entertainment, Inc. is headquartered in Orlando, Florida. “

A number of other research analysts have also issued reports on SEAS. B. Riley set a $36.00 target price on shares of SeaWorld Entertainment and gave the company a “buy” rating in a research note on Monday, July 8th. TheStreet lowered shares of 22nd Century Group from a “c-” rating to a “d+” rating in a research note on Friday, March 29th. Goldman Sachs Group lowered shares of JSR from a “neutral” rating to a “sell” rating in a research note on Friday, June 21st. Janney Montgomery Scott reiterated a “buy” rating and issued a $37.00 target price on shares of SeaWorld Entertainment in a research note on Wednesday, May 8th. Finally, KeyCorp set a $37.00 target price on shares of SeaWorld Entertainment and gave the company a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $33.56.

NYSE:SEAS traded down $0.63 during midday trading on Thursday, reaching $31.74. The stock had a trading volume of 50,771 shares, compared to its average volume of 1,464,375. SeaWorld Entertainment has a 1-year low of $21.00 and a 1-year high of $34.72. The business has a fifty day moving average price of $31.24. The company has a debt-to-equity ratio of 7.15, a current ratio of 0.41 and a quick ratio of 0.31. The firm has a market capitalization of $2.81 billion, a PE ratio of 31.12, a P/E/G ratio of 3.19 and a beta of 1.06.

SeaWorld Entertainment (NYSE:SEAS) last posted its earnings results on Tuesday, May 7th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.18. SeaWorld Entertainment had a net margin of 5.13% and a return on equity of 31.65%. The business had revenue of $220.60 million for the quarter, compared to analyst estimates of $215.91 million. During the same period last year, the business posted ($0.73) EPS. SeaWorld Entertainment’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts expect that SeaWorld Entertainment will post 1.5 EPS for the current year.

In other SeaWorld Entertainment news, major shareholder Alliance Group Ltd Pacific sold 18,829,874 shares of the stock in a transaction on Monday, May 27th. The shares were sold at an average price of $26.71, for a total value of $502,945,934.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of SeaWorld Entertainment by 4.6% during the 4th quarter. BlackRock Inc. now owns 4,478,004 shares of the company’s stock worth $98,919,000 after purchasing an additional 196,436 shares in the last quarter. Deutsche Bank AG increased its position in shares of SeaWorld Entertainment by 58.2% during the 4th quarter. Deutsche Bank AG now owns 1,524,071 shares of the company’s stock worth $33,665,000 after purchasing an additional 560,988 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of SeaWorld Entertainment by 38.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,261,919 shares of the company’s stock worth $27,878,000 after purchasing an additional 352,071 shares in the last quarter. Emerald Advisers LLC increased its position in shares of SeaWorld Entertainment by 11.5% during the 1st quarter. Emerald Advisers LLC now owns 1,176,259 shares of the company’s stock worth $30,300,000 after purchasing an additional 121,191 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. increased its position in shares of SeaWorld Entertainment by 0.4% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 1,101,147 shares of the company’s stock worth $28,366,000 after purchasing an additional 4,180 shares in the last quarter. 84.87% of the stock is owned by institutional investors.

About SeaWorld Entertainment

SeaWorld Entertainment, Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. The company operates SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.

Further Reading: Cost of Equity For A Business, Investors

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