JPMorgan Chase & Co. Issues Pessimistic Forecast for Six Flags Entertainment (NYSE:FUN) Stock Price

Key Points

• JPMorgan Chase & Co. has cut its price target for Six Flags Entertainment from $33.00 to $24.00, indicating a potential downside of 6.67% from its current stock price.
• Other analysts have also adjusted their targets, with Citigroup lowering its estimate to $37.00 and Morgan Stanley to $43.00, while a majority of analysts maintain a "Moderate Buy" rating.
• Six Flags reported an earnings miss with an EPS of $0.26, well below the consensus estimate of $0.79, despite a year-over-year revenue increase of 62.8%.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its price objective decreased by analysts at JPMorgan Chase & Co. from $33.00 to $24.00 in a report released on Thursday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 7.56% from the company's current price.

FUN has been the topic of several other research reports. Guggenheim set a $43.00 target price on Six Flags Entertainment and gave the stock a "buy" rating in a research note on Thursday, August 7th. Mizuho reduced their target price on shares of Six Flags Entertainment from $36.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. UBS Group dropped their price target on shares of Six Flags Entertainment from $49.00 to $40.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Citigroup lowered their target price on Six Flags Entertainment from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Thursday, July 10th. Finally, Wall Street Zen cut Six Flags Entertainment from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $39.07.

Six Flags Entertainment Trading Up 1.2%

FUN stock traded up $0.3020 during trading on Thursday, reaching $25.9620. 5,132,085 shares of the stock were exchanged, compared to its average volume of 5,008,644. The business has a 50 day moving average price of $29.61 and a 200-day moving average price of $34.53. Six Flags Entertainment has a 1 year low of $21.44 and a 1 year high of $49.77. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 2.97. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of -5.35 and a beta of 0.82.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.53). Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The company had revenue of $930.39 million during the quarter, compared to analyst estimates of $999.82 million. The firm's quarterly revenue was up 62.8% compared to the same quarter last year. On average, research analysts predict that Six Flags Entertainment will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Six Flags Entertainment

Several large investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC increased its stake in Six Flags Entertainment by 0.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company's stock valued at $1,198,000 after buying an additional 335 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Six Flags Entertainment by 1.5% in the second quarter. Maryland State Retirement & Pension System now owns 27,632 shares of the company's stock valued at $841,000 after acquiring an additional 399 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Six Flags Entertainment by 4.4% during the second quarter. Ameritas Investment Partners Inc. now owns 9,801 shares of the company's stock worth $298,000 after acquiring an additional 413 shares during the period. Yousif Capital Management LLC raised its holdings in Six Flags Entertainment by 1.2% during the second quarter. Yousif Capital Management LLC now owns 35,141 shares of the company's stock worth $1,069,000 after purchasing an additional 433 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Six Flags Entertainment by 5.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock worth $287,000 after acquiring an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company's stock.

About Six Flags Entertainment

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.