Zacks Investment Research cut shares of Six Flags Entertainment (NYSE:SIX) from a buy rating to a hold rating in a report released on Wednesday morning.
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 also recently commented on SIX. Stifel Nicolaus restated a buy rating and set a $78.00 price objective (up from $72.00) on shares of Six Flags Entertainment in a research note on Wednesday, February 21st. Wedbush set a $76.00 price objective on shares of Six Flags Entertainment and gave the stock a buy rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $68.80.
SIX stock opened at $59.50 on Wednesday. Six Flags Entertainment has a one year low of $51.25 and a one year high of $70.44. The company has a debt-to-equity ratio of -4.00, a quick ratio of 0.66 and a current ratio of 0.74. The company has a market cap of $5,162.72, a PE ratio of 18.54 and a beta of 1.15.
Six Flags Entertainment (NYSE:SIX) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Six Flags Entertainment had a net margin of 20.15% and a negative return on equity of 41.55%. The company had revenue of $256.76 million during the quarter, compared to the consensus estimate of $252.75 million. During the same period in the prior year, the business posted $0.02 EPS. The company’s quarterly revenue was up 7.3% on a year-over-year basis. research analysts anticipate that Six Flags Entertainment will post 2.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 5th. Investors of record on Monday, February 19th were paid a $0.78 dividend. This is an increase from Six Flags Entertainment’s previous quarterly dividend of $0.70. This represents a $3.12 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Thursday, February 15th. Six Flags Entertainment’s dividend payout ratio (DPR) is 97.20%.
In related news, VP Lance C. Balk sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 15,738 shares in the company, valued at approximately $1,033,514.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Barber sold 597 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $66.57, for a total transaction of $39,742.29. Following the completion of the sale, the chief financial officer now owns 80,536 shares of the company’s stock, valued at $5,361,281.52. The disclosure for this sale can be found here. Insiders sold a total of 100,701 shares of company stock valued at $6,613,596 over the last quarter. 6.90% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in Six Flags Entertainment by 10.3% during the third quarter. Janus Henderson Group PLC now owns 3,742,195 shares of the company’s stock worth $228,049,000 after acquiring an additional 348,991 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in Six Flags Entertainment by 1.9% during the fourth quarter. Thrivent Financial For Lutherans now owns 1,593,898 shares of the company’s stock worth $106,106,000 after acquiring an additional 29,180 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Six Flags Entertainment by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 1,424,909 shares of the company’s stock worth $94,855,000 after acquiring an additional 13,180 shares during the last quarter. Cramer Rosenthal Mcglynn LLC lifted its position in Six Flags Entertainment by 95.3% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 1,152,374 shares of the company’s stock worth $70,226,000 after acquiring an additional 562,414 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Six Flags Entertainment by 15.0% during the third quarter. Ameriprise Financial Inc. now owns 930,267 shares of the company’s stock worth $56,683,000 after acquiring an additional 121,519 shares during the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.
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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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