Zacks Investment Research lowered shares of Six Flags Entertainment (NYSE:SIX) from a buy rating to a hold rating in a research report sent to investors on Tuesday, February 20th.
According to Zacks, “Six Flags Entertainment Corporation owns and operates regional parks. The Company has parks comprised of theme, water and zoological parks offering rides, water attractions, themed areas, concerts, shows, restaurants, game venues and retail outlets. The Company holds long-term licenses for theme park usage throughout the United States (except the Las Vegas metropolitan area), Canada, Mexico and other countries of certain Warner Bros. and DC Comics characters. These characters include Bugs Bunny, Daffy Duck, Tweety Bird, Yosemite Sam, Batman, Superman and others. In addition, it has certain rights to use the Hanna-Barbera and Cartoon Network characters, including Yogi Bear, Scooby-Doo, The Flintstones and others. The Company uses these characters to market its parks and to provide an enhanced family entertainment experience. Six Flags Entertainment Corporation is based in New York, NY. “
A number of other equities analysts have also recently issued reports on SIX. FBR & Co reiterated a buy rating on shares of Six Flags Entertainment in a research report on Wednesday, October 25th. SunTrust Banks reiterated a buy rating and set a $70.00 price objective on shares of Six Flags Entertainment in a research report on Friday, October 27th. TheStreet upgraded shares of Six Flags Entertainment from a c+ rating to a b- rating in a research report on Wednesday, October 25th. B. Riley reiterated a buy rating on shares of Six Flags Entertainment in a research report on Wednesday, November 1st. Finally, Wedbush set a $76.00 target price on shares of Six Flags Entertainment and gave the stock a buy rating in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $68.80.
Six Flags Entertainment (NYSE:SIX) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $256.76 million during the quarter, compared to analysts’ expectations of $252.75 million. Six Flags Entertainment had a net margin of 20.15% and a negative return on equity of 41.55%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 EPS. sell-side analysts forecast that Six Flags Entertainment will post 2.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Monday, February 19th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 4.90%. This is a positive change from Six Flags Entertainment’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, February 15th. Six Flags Entertainment’s payout ratio is presently 140.54%.
In other news, VP Lance C. Balk sold 100,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $65.67, for a total value of $6,567,000.00. Following the sale, the vice president now directly owns 15,738 shares of the company’s stock, valued at approximately $1,033,514.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman James Reid-Anderson sold 42,690 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $67.56, for a total transaction of $2,884,136.40. Following the completion of the sale, the chairman now directly owns 3,384,212 shares in the company, valued at $228,637,362.72. The disclosure for this sale can be found here. Insiders have sold a total of 194,322 shares of company stock worth $12,936,593 over the last three months. Insiders own 6.90% of the company’s stock.
Several large investors have recently bought and sold shares of SIX. Dimensional Fund Advisors LP boosted its stake in shares of Six Flags Entertainment by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 480,506 shares of the company’s stock valued at $28,645,000 after purchasing an additional 12,035 shares during the last quarter. State Street Corp boosted its stake in shares of Six Flags Entertainment by 1.5% in the 2nd quarter. State Street Corp now owns 1,018,549 shares of the company’s stock valued at $60,713,000 after purchasing an additional 15,029 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Six Flags Entertainment by 9.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,775 shares of the company’s stock valued at $1,000,000 after purchasing an additional 1,421 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Six Flags Entertainment by 3.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 35,214 shares of the company’s stock valued at $2,099,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in shares of Six Flags Entertainment in the 3rd quarter valued at $1,684,000. 97.37% of the stock is currently owned by institutional investors.
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About Six Flags Entertainment
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.
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