Six Flags Entertainment (NYSE:FUN) Stock Gets Price Target Reduction from Citigroup

Key Points

• Citigroup cut its Six Flags price target from $13 to $10 and maintained a neutral rating, implying 8.93% downside from the prior close. Across analysts, the consensus rating is Hold with an average target of $15.62.
• Six Flags reported a quarterly loss of $3.59 per share, missing the $1.93-per-share consensus estimate; revenue of $1.17 billion slightly beat estimates but fell 11% year over year.
• Shares rose 9.8% on Monday to $10.98, while the stock’s 52-week range was $6.60 to $26.28.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price objective reduced by stock analysts at Citigroup from $13.00 to $10.00 in a report released on Monday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price objective indicates a potential downside of 8.93% from the stock's previous close.

Several other analysts also recently issued reports on FUN. JPMorgan Chase & Co. lowered their price target on Six Flags Entertainment from $26.00 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Mizuho set a $5.00 price objective on Six Flags Entertainment in a research note on Wednesday, October 21st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Six Flags Entertainment in a research report on Wednesday, August 12th. Barclays decreased their target price on Six Flags Entertainment from $22.00 to $13.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Guggenheim dropped their target price on Six Flags Entertainment from $28.00 to $17.00 and set a "buy" rating on the stock in a report on Wednesday, October 21st. Seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $15.62.

Six Flags Entertainment Trading Up 9.8%

FUN stock traded up $0.98 during midday trading on Monday, reaching $10.98. 2,426,436 shares of the company's stock traded hands, compared to its average volume of 2,699,681. The company has a market capitalization of $1.12 billion, a P/E ratio of -1.19 and a beta of 0.50. The company has a debt-to-equity ratio of 43.34, a current ratio of 0.52 and a quick ratio of 0.46. Six Flags Entertainment has a fifty-two week low of $6.60 and a fifty-two week high of $26.28. The business has a 50-day moving average price of $11.05 and a two-hundred day moving average price of $16.73.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported ($3.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.93 by ($5.52). Six Flags Entertainment had a negative return on equity of 15.95% and a negative net margin of 31.91%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned ($2.20) EPS. Six Flags Entertainment's revenue was down 11.0% on a year-over-year basis. Equities research analysts forecast that Six Flags Entertainment will post -0.91 EPS for the current fiscal year.

Insider Buying and Selling at Six Flags Entertainment

In other Six Flags Entertainment news, CEO John Reilly bought 15,713 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $15.80 per share, with a total value of $248,265.40. Following the completion of the transaction, the chief executive officer owned 297,736 shares in the company, valued at $4,704,228.80. The trade was a 5.57% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Six Flags Entertainment

A number of hedge funds have recently made changes to their positions in FUN. Atlas Wealth LLC acquired a new stake in Six Flags Entertainment during the first quarter worth about $26,000. Integrated Wealth Concepts LLC bought a new position in Six Flags Entertainment in the second quarter worth about $31,000. Allworth Financial LP acquired a new position in Six Flags Entertainment in the second quarter valued at approximately $35,000. Public Employees Retirement System of Ohio boosted its stake in Six Flags Entertainment by 36.1% in the first quarter. Public Employees Retirement System of Ohio now owns 2,031 shares of the company's stock valued at $36,000 after acquiring an additional 539 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in Six Flags Entertainment in the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 64.65% of the company's stock.

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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