SunTrust Banks Analysts Decrease Earnings Estimates for Six Flags Entertainment Corp (SIX)

Six Flags Entertainment Corp (NYSE:SIX) – Stock analysts at SunTrust Banks decreased their FY2018 EPS estimates for Six Flags Entertainment in a research report issued to clients and investors on Wednesday, October 24th. SunTrust Banks analyst M. Swartz now anticipates that the company will earn $2.53 per share for the year, down from their previous forecast of $2.77. SunTrust Banks has a “Buy” rating and a $65.00 price target on the stock. SunTrust Banks also issued estimates for Six Flags Entertainment’s Q1 2019 earnings at ($0.77) EPS, Q2 2019 earnings at $0.97 EPS, FY2019 earnings at $2.73 EPS and FY2020 earnings at $3.14 EPS.

Six Flags Entertainment (NYSE:SIX) last issued its quarterly earnings data on Tuesday, October 23rd. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.16). Six Flags Entertainment had a net margin of 20.30% and a negative return on equity of 35.16%. The company had revenue of $619.82 million for the quarter, compared to analysts’ expectations of $633.03 million.

A number of other brokerages also recently issued reports on SIX. Wells Fargo & Co downgraded Six Flags Entertainment from an “outperform” rating to a “market perform” rating in a research report on Monday, July 9th. Wedbush downgraded Six Flags Entertainment from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $76.00 to $70.00 in a research report on Friday, July 20th. Zacks Investment Research downgraded Six Flags Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. KeyCorp upped their target price on Six Flags Entertainment from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Finally, Oppenheimer set a $80.00 price objective on Six Flags Entertainment and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $69.63.

Shares of SIX stock opened at $53.56 on Monday. Six Flags Entertainment has a 1 year low of $51.91 and a 1 year high of $73.38. The company has a market cap of $4.57 billion, a price-to-earnings ratio of 24.84 and a beta of 1.00.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Castleark Management LLC bought a new stake in Six Flags Entertainment during the 2nd quarter valued at $123,000. First Hawaiian Bank bought a new stake in Six Flags Entertainment during the 3rd quarter valued at $197,000. CIBC Asset Management Inc bought a new stake in Six Flags Entertainment during the 2nd quarter valued at $202,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Six Flags Entertainment by 52.9% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,180 shares of the company’s stock valued at $223,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in Six Flags Entertainment by 31.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,210 shares of the company’s stock valued at $225,000 after acquiring an additional 772 shares in the last quarter. 94.58% of the stock is currently owned by institutional investors and hedge funds.

In other Six Flags Entertainment news, CFO Marshall Barber sold 449 shares of the stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $65.21, for a total transaction of $29,279.29. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Catherine Aslin sold 2,425 shares of the stock in a transaction on Monday, August 27th. The shares were sold at an average price of $66.85, for a total value of $162,111.25. The disclosure for this sale can be found here. In the last three months, insiders sold 2,934 shares of company stock worth $195,337. 5.50% of the stock is owned by insiders.

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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Earnings History and Estimates for Six Flags Entertainment (NYSE:SIX)

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