Citizens Jmp Has Lowered Expectations for Six Flags Entertainment (NYSE:FUN) Stock Price

Key Points

• Citizens Jmp cut Six Flags Entertainment’s price target from $24 to $14 but maintained a “market outperform” rating, implying roughly 95% upside from the stock’s prior close.
• Analyst sentiment is mixed: the consensus rating is “Hold,” with seven Buy, seven Hold, and two Sell ratings and an average price target of $17.62.
• Six Flags reported weaker-than-expected quarterly results, including $0.14 EPS versus $0.29 expected and revenue of $864.92 million versus $928.36 million forecast; shares recently traded near $7.16.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price objective dropped by research analysts at Citizens Jmp from $24.00 to $14.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's price objective suggests a potential upside of 95.42% from the company's previous close.

FUN has been the subject of a number of other reports. Truist Financial decreased their price target on Six Flags Entertainment from $28.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, September 10th. Northcoast Research assumed coverage on Six Flags Entertainment in a report on Wednesday, July 8th. They issued a "neutral" rating on the stock. Barclays dropped their price objective on Six Flags Entertainment from $26.00 to $22.00 and set an "overweight" rating on the stock in a report on Friday, August 7th. Wall Street Zen lowered Six Flags Entertainment from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. Finally, Guggenheim decreased their target price on Six Flags Entertainment from $28.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Six Flags Entertainment presently has a consensus rating of "Hold" and an average target price of $17.62.

Six Flags Entertainment Stock Up 1.3%

Shares of FUN traded up $0.09 during midday trading on Thursday, reaching $7.16. The stock had a trading volume of 1,449,121 shares, compared to its average volume of 2,458,633. The company has a market cap of $732.99 million, a price-to-earnings ratio of -0.41 and a beta of 0.45. The company's fifty day simple moving average is $13.09 and its two-hundred day simple moving average is $17.42. Six Flags Entertainment has a 1-year low of $6.90 and a 1-year high of $27.37. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.42 and a quick ratio of 0.36.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.15). The firm had revenue of $864.92 million for the quarter, compared to analyst estimates of $928.36 million. Six Flags Entertainment had a positive return on equity of 7.43% and a negative net margin of 57.25%. The business's revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. Equities research analysts expect that Six Flags Entertainment will post -0.91 earnings per share for the current year.

Insider Activity at Six Flags Entertainment

In related news, CEO John Reilly purchased 15,713 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $15.80 per share, for a total transaction of $248,265.40. Following the purchase, the chief executive officer directly owned 297,736 shares of the company's stock, valued at $4,704,228.80. The trade was a 5.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Six Flags Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Six Flags Entertainment during the second quarter worth about $339,057,000. Kanen Wealth Management LLC acquired a new stake in shares of Six Flags Entertainment during the first quarter worth about $15,063,000. Bank of New York Mellon Corp acquired a new stake in shares of Six Flags Entertainment during the second quarter worth about $11,975,000. Jupiter Topco LLC acquired a new stake in shares of Six Flags Entertainment during the second quarter worth about $10,348,000. Finally, Bank of America Corp DE purchased a new stake in shares of Six Flags Entertainment in the 2nd quarter valued at about $9,066,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

Six Flags Entertainment Company Profile

Six Flags Entertainment Corporation is a regional theme park operator headquartered in Charlotte, North Carolina. The company owns and operates amusement parks, water parks and resort properties, offering roller coasters, family rides, live entertainment, seasonal events, food and beverage, merchandise, and other guest experiences. Its portfolio includes parks operating under the Six Flags, Cedar Fair and affiliated brand names, including Six Flags Great Adventure, Cedar Point, Knott's Berry Farm and Kings Island.

The company serves guests primarily in the United States, as well as in Canada and Mexico.

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