Six Flags Entertainment Corporation New Expected to Earn Q3 2017 Earnings of $1.94 Per Share (SIX)

Six Flags Entertainment Corporation New (NYSE:SIX) – Equities researchers at FBR & Co boosted their Q3 2017 earnings per share (EPS) estimates for Six Flags Entertainment Corporation New in a research note issued on Friday. FBR & Co analyst B. Crockett now anticipates that the company will post earnings of $1.94 per share for the quarter, up from their prior estimate of $1.91. FBR & Co has a “Buy” rating on the stock.

Six Flags Entertainment Corporation New (NYSE:SIX) last announced its quarterly earnings results on Wednesday, April 26th. The company reported ($0.63) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The company had revenue of $99.50 million during the quarter, compared to the consensus estimate of $107.58 million. Six Flags Entertainment Corporation New had a net margin of 8.26% and a negative return on equity of 89.39%. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.51) earnings per share.

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Several other research analysts have also weighed in on SIX. Zacks Investment Research upgraded shares of Six Flags Entertainment Corporation New from a “sell” rating to a “hold” rating in a report on Saturday. B. Riley reiterated a “buy” rating and set a $67.00 price objective on shares of Six Flags Entertainment Corporation New in a report on Monday, April 24th. BidaskClub upgraded shares of Six Flags Entertainment Corporation New from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Stifel Nicolaus reiterated a “buy” rating and set a $73.00 price objective on shares of Six Flags Entertainment Corporation New in a report on Friday, July 14th. Finally, Wedbush restated an “outperform” rating and issued a $64.00 price target on shares of Six Flags Entertainment Corporation New in a report on Sunday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $66.55.

Shares of Six Flags Entertainment Corporation New (NYSE:SIX) opened at 55.62 on Monday. The company’s 50 day moving average is $58.86 and its 200 day moving average is $59.96. The company has a market cap of $5.04 billion, a P/E ratio of 48.75 and a beta of 1.15. Six Flags Entertainment Corporation New has a 12 month low of $47.61 and a 12 month high of $65.19.

A number of hedge funds have recently modified their holdings of SIX. Creative Planning increased its stake in shares of Six Flags Entertainment Corporation New by 39.8% in the first quarter. Creative Planning now owns 2,218 shares of the company’s stock valued at $132,000 after buying an additional 631 shares during the period. Washington Trust Bank increased its stake in shares of Six Flags Entertainment Corporation New by 11.6% in the first quarter. Washington Trust Bank now owns 2,225 shares of the company’s stock valued at $132,000 after buying an additional 231 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Six Flags Entertainment Corporation New during the first quarter valued at about $149,000. World Asset Management Inc purchased a new stake in shares of Six Flags Entertainment Corporation New during the first quarter valued at about $209,000. Finally, Comerica Bank purchased a new stake in shares of Six Flags Entertainment Corporation New during the fourth quarter valued at about $213,000. 87.05% of the stock is owned by institutional investors.

In other Six Flags Entertainment Corporation New news, VP Brett Petit sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $64.95, for a total value of $1,299,000.00. Following the completion of the sale, the vice president now owns 150,433 shares of the company’s stock, valued at $9,770,623.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Usman Nabi sold 5,060,628 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $61.36, for a total transaction of $310,520,134.08. The disclosure for this sale can be found here. Insiders sold 5,159,620 shares of company stock worth $316,956,774 in the last 90 days. 6.90% of the stock is currently owned by insiders.

Six Flags Entertainment Corporation New announced that its Board of Directors has initiated a stock buyback plan on Thursday, March 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Six Flags Entertainment Corporation New Company Profile

Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.

Earnings History and Estimates for Six Flags Entertainment Corporation New (NYSE:SIX)

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