Wall Street brokerages expect that Six Flags Entertainment Corp (NYSE:SIX) will post sales of $284.84 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Six Flags Entertainment’s earnings, with the highest sales estimate coming in at $306.30 million and the lowest estimate coming in at $278.00 million. Six Flags Entertainment reported sales of $256.76 million during the same quarter last year, which indicates a positive year over year growth rate of 10.9%. The business is expected to issue its next quarterly earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that Six Flags Entertainment will report full year sales of $1.48 billion for the current year, with estimates ranging from $1.47 billion to $1.50 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.56 billion, with estimates ranging from $1.54 billion to $1.59 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Six Flags Entertainment.
Six Flags Entertainment (NYSE:SIX) last issued its earnings results on Tuesday, October 23rd. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.16). The company had revenue of $619.82 million for the quarter, compared to analysts’ expectations of $633.03 million. Six Flags Entertainment had a negative return on equity of 35.16% and a net margin of 20.30%.
SIX has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. ValuEngine lowered shares of Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Oppenheimer set a $80.00 target price on shares of Six Flags Entertainment and gave the stock a “buy” rating in a research report on Wednesday, October 24th. KeyCorp decreased their target price on shares of Six Flags Entertainment from $72.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, October 25th. Finally, Macquarie upgraded shares of Six Flags Entertainment from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $68.63.
In related news, insider Catherine Aslin sold 2,425 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $66.85, for a total value of $162,111.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Marshall Barber sold 449 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $65.21, for a total transaction of $29,279.29. The disclosure for this sale can be found here. Insiders sold a total of 2,934 shares of company stock worth $195,337 over the last quarter. Insiders own 6.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its holdings in Six Flags Entertainment by 6.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 86,419 shares of the company’s stock valued at $6,034,000 after purchasing an additional 5,485 shares in the last quarter. Summit Global Investments lifted its holdings in Six Flags Entertainment by 11.8% in the 3rd quarter. Summit Global Investments now owns 89,484 shares of the company’s stock valued at $6,248,000 after purchasing an additional 9,442 shares in the last quarter. Pacific Grove Capital LP purchased a new position in Six Flags Entertainment in the 3rd quarter valued at about $2,527,000. Trafelet Brokaw Capital Management L.P. increased its stake in shares of Six Flags Entertainment by 6.9% during the 3rd quarter. Trafelet Brokaw Capital Management L.P. now owns 61,926 shares of the company’s stock valued at $4,324,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Castleark Management LLC increased its stake in shares of Six Flags Entertainment by 264.5% during the 3rd quarter. Castleark Management LLC now owns 6,415 shares of the company’s stock valued at $448,000 after acquiring an additional 4,655 shares during the last quarter. Institutional investors and hedge funds own 99.69% of the company’s stock.
Shares of NYSE SIX traded up $1.00 during trading on Friday, hitting $59.84. 1,237,940 shares of the company were exchanged, compared to its average volume of 1,110,629. The firm has a market capitalization of $4.80 billion, a P/E ratio of 28.09 and a beta of 1.21. Six Flags Entertainment has a 1 year low of $51.91 and a 1 year high of $73.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Thursday, November 29th will be given a $0.82 dividend. The ex-dividend date is Wednesday, November 28th. This is a positive change from Six Flags Entertainment’s previous quarterly dividend of $0.78. This represents a $3.28 annualized dividend and a dividend yield of 5.48%. Six Flags Entertainment’s payout ratio is currently 146.48%.
About Six Flags Entertainment
Six Flags Entertainment Corp. engages in the business of operating regional theme parks. It operates under the brand name Six Flags, which offers thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues and retail outlets. The company was founded by Angus Wynne in 1961 and is headquartered in Grand Prairie, TX.
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