Six Flags (SIX) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Six Flags (NYSE:SIX) from a sell rating to a hold rating in a report released on Wednesday morning.

Several other analysts have also weighed in on the stock. Macquarie raised their price objective on shares of Six Flags from $56.00 to $58.00 and gave the stock an underperform rating in a report on Thursday, April 26th. B. Riley raised their price objective on shares of Six Flags from $78.00 to $80.00 and gave the stock a buy rating in a report on Thursday, April 26th. Stifel Nicolaus raised their price objective on shares of Six Flags from $78.00 to $80.00 and gave the stock a buy rating in a report on Thursday, April 26th. Zacks Investment Research raised shares of Six Flags from a hold rating to a buy rating and set a $68.00 price objective for the company in a report on Wednesday, April 25th. Finally, Oppenheimer set a $80.00 price objective on shares of Six Flags and gave the stock a buy rating in a report on Tuesday, April 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $69.55.

Six Flags opened at $63.77 on Wednesday, according to Marketbeat Ratings. The company has a market cap of $5.29 billion, a PE ratio of 29.94 and a beta of 1.13. The company has a debt-to-equity ratio of -2.90, a current ratio of 0.37 and a quick ratio of 0.30. Six Flags has a 1-year low of $63.65 and a 1-year high of $64.46.

Six Flags (NYSE:SIX) last posted its quarterly earnings data on Tuesday, April 24th. The company reported ($0.74) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.05. The company had revenue of $128.96 million during the quarter, compared to analyst estimates of $118.75 million. Six Flags had a net margin of 19.38% and a negative return on equity of 31.58%. The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.63) earnings per share. equities analysts predict that Six Flags will post 2.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.78 per share. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $3.12 annualized dividend and a dividend yield of 4.89%. Six Flags’s dividend payout ratio (DPR) is currently 146.48%.

In other news, VP Lance C. Balk sold 100,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $65.67, for a total transaction of $6,567,000.00. Following the sale, the vice president now directly owns 15,738 shares of the company’s stock, valued at $1,033,514.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Barber sold 597 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $66.57, for a total transaction of $39,742.29. Following the sale, the chief financial officer now directly owns 80,536 shares in the company, valued at $5,361,281.52. The disclosure for this sale can be found here. 6.90% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIX. MetLife Investment Advisors LLC bought a new position in Six Flags in the fourth quarter valued at approximately $3,282,000. Teachers Advisors LLC boosted its stake in Six Flags by 1.2% in the fourth quarter. Teachers Advisors LLC now owns 75,132 shares of the company’s stock valued at $5,002,000 after acquiring an additional 874 shares during the last quarter. Millennium Management LLC bought a new position in Six Flags in the fourth quarter valued at approximately $20,136,000. BB&T Securities LLC boosted its stake in Six Flags by 2.7% in the fourth quarter. BB&T Securities LLC now owns 40,300 shares of the company’s stock valued at $2,682,000 after acquiring an additional 1,041 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in Six Flags in the fourth quarter valued at approximately $10,293,000. 98.13% of the stock is currently owned by institutional investors and hedge funds.

About Six Flags

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Six Flags (NYSE:SIX)

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