Six Flags Entertainment Corp (SIX) Expected to Post Quarterly Sales of $284.84 Million

Equities research analysts predict that Six Flags Entertainment Corp (NYSE:SIX) will announce $284.84 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have issued 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 posted sales of $256.76 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.9%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 19th.

On average, analysts expect that Six Flags Entertainment will report full-year sales of $1.48 billion for the current financial year, with estimates ranging from $1.47 billion to $1.50 billion. For the next year, analysts forecast that the business will post sales of $1.56 billion, with estimates ranging from $1.54 billion to $1.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Six Flags Entertainment.

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

A number of analysts have recently issued reports on the company. Oppenheimer set a $80.00 target price on Six Flags Entertainment and gave the stock a “buy” rating in a report on Wednesday, October 24th. ValuEngine upgraded Six Flags Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Macquarie upgraded Six Flags Entertainment from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a report on Friday, October 26th. B. Riley decreased their target price on Six Flags Entertainment from $81.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Finally, Wedbush set a $55.00 target price on Six Flags Entertainment and gave the stock a “hold” rating in a report on Thursday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.63.

Shares of NYSE:SIX opened at $59.81 on Tuesday. Six Flags Entertainment has a 1 year low of $51.91 and a 1 year high of $73.38. The stock has a market cap of $5.18 billion, a PE ratio of 28.08 and a beta of 1.25.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Thursday, November 29th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date is Wednesday, November 28th. This is a boost from Six Flags Entertainment’s previous quarterly dividend of $0.78. Six Flags Entertainment’s dividend payout ratio is currently 153.99%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIX. Capital World Investors purchased a new position in Six Flags Entertainment in the 3rd quarter worth approximately $167,568,000. FMR LLC purchased a new position in Six Flags Entertainment in the 2nd quarter worth approximately $41,914,000. Robeco Institutional Asset Management B.V. boosted its holdings in Six Flags Entertainment by 10,214.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 464,463 shares of the company’s stock worth $32,537,000 after acquiring an additional 459,960 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new position in Six Flags Entertainment in the 2nd quarter worth approximately $26,240,000. Finally, Bank of New York Mellon Corp boosted its holdings in Six Flags Entertainment by 16.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,020,972 shares of the company’s stock worth $141,104,000 after acquiring an additional 288,077 shares during the period. Hedge funds and other institutional investors own 96.43% of the company’s stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags brand name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 20 parks, including 17 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

Recommended Story: How does the Federal Reserve determine interest rates?

Get a free copy of the Zacks research report on Six Flags Entertainment (SIX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Six Flags Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Six Flags Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit