Six Flags Entertainment (NYSE:FUN) Releases Earnings Results, Misses Expectations By $0.62 EPS

Six Flags Entertainment (NYSE:FUN) announced its earnings results on Thursday. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.62), Zacks reports. The business had revenue of $650.09 million for the quarter, compared to the consensus estimate of $602.68 million. Six Flags Entertainment had a positive return on equity of 9.64% and a negative net margin of 56.44%.The firm’s revenue was down 5.4% compared to the same quarter last year.

Six Flags Entertainment Price Performance

Shares of FUN stock traded up $1.16 during midday trading on Thursday, reaching $17.38. 1,268,462 shares of the company traded hands, compared to its average volume of 2,521,851. The firm’s 50 day simple moving average is $16.14 and its two-hundred day simple moving average is $19.51. The firm has a market cap of $1.76 billion, a PE ratio of -0.98 and a beta of 0.39. The company has a debt-to-equity ratio of 8.16, a current ratio of 0.58 and a quick ratio of 0.48. Six Flags Entertainment has a 1-year low of $12.51 and a 1-year high of $48.80.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FUN. Danske Bank A S purchased a new position in Six Flags Entertainment during the third quarter worth $27,000. Northwestern Mutual Wealth Management Co. increased its position 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 last quarter. Empowered Funds LLC purchased a new stake in Six Flags Entertainment during the fourth quarter valued at about $45,000. CIBC Private Wealth Group LLC raised its holdings in Six Flags Entertainment by 26.3% in the third quarter. CIBC Private Wealth Group LLC now owns 3,588 shares of the company’s stock valued at $82,000 after buying an additional 748 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in 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 period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup cut Six Flags Entertainment from a “buy” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $20.00 in a research report on Thursday, February 5th. JPMorgan Chase & Co. cut their target price on shares of Six Flags Entertainment from $24.00 to $20.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 12th. Mizuho lowered their target price on Six Flags Entertainment from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Stifel Nicolaus lowered their price target on shares of Six Flags Entertainment from $36.00 to $29.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Zacks Research upgraded Six Flags Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Six Flags Entertainment currently has a consensus rating of “Hold” and an average price target of $26.86.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a publicly traded regional theme park operator based in Arlington, Texas. The company develops, owns and operates amusement and water parks, offering a diverse portfolio of thrill rides, family attractions, live entertainment, food and beverage offerings, and retail merchandise. Its main revenue streams include single-day tickets, season passes, on-site accommodations, in-park retail sales, and food and beverage services.

Founded in 1961 by Angus G.