Six Flags Entertainment (NYSE:FUN) Announces Quarterly Earnings Results, Misses Estimates By $14.01 EPS

Six Flags Entertainment (NYSE:FUN) issued its earnings results on Friday. The company reported ($11.77) EPS for the quarter, missing the consensus estimate of $2.24 by ($14.01), Briefing.com reports. Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted $4.21 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis.

Six Flags Entertainment Stock Down 1.8%

Shares of NYSE:FUN traded down $0.33 during midday trading on Friday, reaching $18.07. The company had a trading volume of 6,297,753 shares, compared to its average volume of 2,791,334. Six Flags Entertainment has a 1-year low of $17.43 and a 1-year high of $49.77. The stock has a market cap of $1.83 billion, a PE ratio of -3.72 and a beta of 0.69. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97. The business’s 50 day moving average price is $22.62 and its 200 day moving average price is $28.26.

Analyst Ratings Changes

Several research firms have weighed in on FUN. Weiss Ratings reiterated a “sell (d)” rating on shares of Six Flags Entertainment in a report on Wednesday, October 8th. The Goldman Sachs Group cut their price objective on Six Flags Entertainment from $30.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. Stifel Nicolaus lowered their target price on Six Flags Entertainment from $50.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Barclays reduced their price target on shares of Six Flags Entertainment from $40.00 to $27.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. Finally, Morgan Stanley dropped their price objective on shares of Six Flags Entertainment from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, August 4th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.07.

Institutional Trading of Six Flags Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUN. Russell Investments Group Ltd. increased its stake in shares of Six Flags Entertainment by 26.1% during the 2nd 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. Northwestern Mutual Wealth Management Co. grew its holdings in Six Flags Entertainment by 259.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 722 shares during the period. Corient Private Wealth LLC increased 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 worth $283,000 after buying an additional 888 shares during the last quarter. State of Wyoming lifted its position in shares of 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 buying an additional 4,877 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Six Flags Entertainment by 8.3% during the 2nd quarter. Sei Investments Co. now owns 66,857 shares of the company’s stock worth $2,034,000 after acquiring an additional 5,119 shares during the last quarter. 64.65% of the stock is owned by institutional investors.

Six Flags Entertainment Company Profile

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.