Six Flags Entertainment (FUN) Expected to Announce Quarterly Earnings on Wednesday

Six Flags Entertainment (NYSE:FUN) is expected to be issuing its results before the market opens on Wednesday, November 5th. Analysts expect the company to announce earnings of $2.27 per share and revenue of $1.3430 billion for the quarter.

Six Flags Entertainment (NYSE:FUN) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.53). Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The company had revenue of $930.39 million for the quarter, compared to the consensus estimate of $999.82 million. The firm’s quarterly revenue was up 62.8% compared to the same quarter last year. On average, analysts expect Six Flags Entertainment to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Six Flags Entertainment Stock Down 2.8%

NYSE:FUN opened at $25.99 on Wednesday. Six Flags Entertainment has a fifty-two week low of $20.00 and a fifty-two week high of $49.77. The company’s 50-day simple moving average is $23.16 and its 200-day simple moving average is $28.85. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.42 and a current ratio of 0.52. The stock has a market capitalization of $2.63 billion, a P/E ratio of -5.36 and a beta of 0.71.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FUN. Barclays decreased their price objective on Six Flags Entertainment from $40.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Oppenheimer lowered their price target on Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. The Goldman Sachs Group cut their price objective on shares of Six Flags Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Six Flags Entertainment from $33.00 to $24.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. Finally, Morgan Stanley lowered their target price on shares of Six Flags Entertainment from $47.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.21.

Institutional Trading of Six Flags Entertainment

Several institutional investors and hedge funds have recently bought and sold shares of FUN. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Six Flags Entertainment by 259.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock valued at $30,000 after acquiring an additional 722 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Six Flags Entertainment by 26.1% during the second quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company’s stock worth $86,000 after purchasing an additional 586 shares during the last quarter. Corient Private Wealth LLC lifted its position in Six Flags Entertainment by 10.6% during the second quarter. Corient Private Wealth LLC now owns 9,290 shares of the company’s stock valued at $283,000 after purchasing an additional 888 shares during the period. State of Wyoming boosted its holdings in Six Flags Entertainment by 100.2% in the second quarter. State of Wyoming now owns 9,746 shares of the company’s stock valued at $297,000 after purchasing an additional 4,877 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Six Flags Entertainment by 364.4% in the second quarter. Tower Research Capital LLC TRC now owns 11,295 shares of the company’s stock valued at $344,000 after purchasing an additional 8,863 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.

About Six Flags Entertainment

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.