Six Flags Entertainment (NYSE:SIX) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of Six Flags Entertainment (NYSE:SIX) from a hold rating to a sell rating in a research note issued to investors on Tuesday, ValuEngine reports.

Several other research analysts also recently commented on SIX. Wells Fargo & Co raised Six Flags Entertainment from a market perform rating to an outperform rating and boosted their target price for the stock from $52.00 to $56.00 in a report on Tuesday, July 9th. Wedbush raised Six Flags Entertainment from a neutral rating to an outperform rating and boosted their target price for the stock from $51.00 to $62.00 in a report on Wednesday, June 19th. Finally, B. Riley boosted their target price on Six Flags Entertainment from $64.00 to $70.00 and gave the stock a buy rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Six Flags Entertainment presently has a consensus rating of Buy and an average target price of $62.70.

Shares of SIX opened at $52.25 on Tuesday. The company has a market capitalization of $4.41 billion, a P/E ratio of 16.18, a PEG ratio of 2.92 and a beta of 1.02. Six Flags Entertainment has a one year low of $46.68 and a one year high of $71.27. The business’s 50 day simple moving average is $55.87 and its 200-day simple moving average is $52.64.

Six Flags Entertainment (NYSE:SIX) last announced its earnings results on Wednesday, July 24th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.99 by $0.01. The business had revenue of $477.20 million for the quarter, compared to the consensus estimate of $468.44 million. Six Flags Entertainment had a negative return on equity of 41.03% and a net margin of 18.35%. Six Flags Entertainment’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. Sell-side analysts anticipate that Six Flags Entertainment will post 2.83 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 6.28%. The ex-dividend date was Wednesday, September 4th. Six Flags Entertainment’s dividend payout ratio is 101.55%.

In other Six Flags Entertainment news, CFO Marshall Barber sold 468 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $58.98, for a total transaction of $27,602.64. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 643 shares of company stock worth $37,865. Company insiders own 5.90% of the company’s stock.

A number of large investors have recently bought and sold shares of SIX. Balyasny Asset Management LLC lifted its holdings in Six Flags Entertainment by 110.4% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,054,880 shares of the company’s stock worth $52,406,000 after buying an additional 553,511 shares in the last quarter. Isomer Partners LP acquired a new position in Six Flags Entertainment during the 2nd quarter worth $17,301,000. Dynamo Internacional Gestao DE Recursos LTDA. lifted its holdings in Six Flags Entertainment by 53.7% during the 2nd quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 948,489 shares of the company’s stock worth $59,281,000 after buying an additional 331,266 shares in the last quarter. BlackRock Inc. lifted its holdings in Six Flags Entertainment by 4.7% during the 2nd quarter. BlackRock Inc. now owns 6,826,552 shares of the company’s stock worth $339,145,000 after buying an additional 304,187 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Six Flags Entertainment by 183.8% during the 2nd quarter. Wells Fargo & Company MN now owns 437,342 shares of the company’s stock worth $21,728,000 after buying an additional 283,254 shares in the last quarter. 85.16% of the stock is currently owned by hedge funds and other institutional investors.

About Six Flags Entertainment

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags 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 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

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Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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