Mizuho Issues Pessimistic Forecast for Six Flags Entertainment (NYSE:FUN) Stock Price

Key Points

• Mizuho has lowered its target price for Six Flags Entertainment from $36.00 to $30.00 while maintaining an "outperform" rating, indicating a potential upside of 24.77% from its previous close.
• Other analysts have also reduced their price targets for Six Flags, with JPMorgan lowering it to $28.00 and Barclays to $40.00, reflecting a generally pessimistic outlook on the stock.
• Six Flags reported a missed EPS estimate of $0.26 compared to the consensus of $0.79, alongside revenue of $930.39 million, indicating challenges despite a revenue increase of 62.8% year-over-year.

Six Flags Entertainment (NYSE:FUN - Get Free Report) had its target price dropped by equities researchers at Mizuho from $36.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price objective points to a potential upside of 24.77% from the stock's previous close.

Several other equities research analysts have also recently weighed in on FUN. JPMorgan Chase & Co. lowered their price target on shares of Six Flags Entertainment from $46.00 to $28.00 and set an "underweight" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus reduced their price objective on shares of Six Flags Entertainment from $50.00 to $43.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Barclays reduced their price objective on shares of Six Flags Entertainment from $43.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, July 11th. Truist Financial cut their price target on shares of Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, The Goldman Sachs Group cut their price target on shares of Six Flags Entertainment from $45.00 to $39.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $43.87.

Six Flags Entertainment Trading Down 1.1%

Shares of FUN stock opened at $24.05 on Thursday. Six Flags Entertainment has a 12-month low of $21.44 and a 12-month high of $49.77. The company has a current ratio of 0.37, a quick ratio of 0.28 and a debt-to-equity ratio of 2.75. The firm's 50 day moving average is $30.98 and its 200 day moving average is $35.80. The stock has a market capitalization of $2.43 billion, a P/E ratio of -8.55 and a beta of 0.82.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.53). The business had revenue of $930.39 million during the quarter, compared to the consensus estimate of $999.82 million. Six Flags Entertainment had a positive return on equity of 0.66% and a negative net margin of 11.30%. The company's revenue was up 62.8% compared to the same quarter last year. Research analysts expect that Six Flags Entertainment will post 0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michelle M. Frymire sold 5,929 shares of Six Flags Entertainment stock in a transaction on Monday, May 12th. The shares were sold at an average price of $37.89, for a total value of $224,649.81. Following the transaction, the director directly owned 7,162 shares of the company's stock, valued at $271,368.18. The trade was a 45.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.80% of the company's stock.

Hedge Funds Weigh In On Six Flags Entertainment

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in shares of Six Flags Entertainment by 96.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company's stock valued at $55,000 after acquiring an additional 884 shares during the period. ORG Wealth Partners LLC increased its holdings in shares of Six Flags Entertainment by 45.8% in the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company's stock valued at $102,000 after acquiring an additional 1,002 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Six Flags Entertainment by 42.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock valued at $175,000 after acquiring an additional 1,717 shares during the period. Trust Co. of Toledo NA OH increased its stake in Six Flags Entertainment by 9.2% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 7,144 shares of the company's stock valued at $217,000 after buying an additional 600 shares during the period. Finally, Castleview Partners LLC acquired a new position in Six Flags Entertainment in the 2nd quarter valued at $239,000. 64.65% of the stock is owned by institutional investors and hedge funds.

Six Flags Entertainment Company Profile

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.

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