Mizuho Has Lowered Expectations 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 price target decreased by equities research analysts at Mizuho from $36.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's target price suggests a potential upside of 24.30% from the stock's current price.

FUN has been the subject of several other research reports. Truist Financial decreased their price target on shares of Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group dropped their target price on shares of Six Flags Entertainment from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Wall Street Zen lowered shares of Six Flags Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, June 21st. Stifel Nicolaus decreased their target price on shares of Six Flags Entertainment from $50.00 to $43.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Morgan Stanley reduced their price target on shares of Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Six Flags Entertainment has a consensus rating of "Moderate Buy" and a consensus price target of $39.79.

Six Flags Entertainment Price Performance

Shares of NYSE:FUN traded up $0.35 on Thursday, reaching $24.14. 3,292,263 shares of the company traded hands, compared to its average volume of 2,208,945. The company's 50 day moving average is $30.60 and its 200-day moving average is $35.38. The stock has a market capitalization of $2.44 billion, a PE ratio of -4.98 and a beta of 0.82. Six Flags Entertainment has a fifty-two week low of $21.44 and a fifty-two week high of $49.77. The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42.

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 the consensus estimate of $0.79 by ($0.53). Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%. The business had revenue of $930.39 million for the quarter, compared to analyst estimates of $999.82 million. Six Flags Entertainment's revenue for the quarter was up 62.8% compared to the same quarter last year. As a group, analysts anticipate that Six Flags Entertainment will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Peregrine Capital Management LLC increased its holdings in shares of Six Flags Entertainment by 7.5% during the first quarter. Peregrine Capital Management LLC now owns 131,499 shares of the company's stock valued at $4,691,000 after purchasing an additional 9,231 shares during the period. Veracity Capital LLC grew its holdings in shares of Six Flags Entertainment by 20.0% during the 2nd quarter. Veracity Capital LLC now owns 25,282 shares of the company's stock worth $769,000 after purchasing an additional 4,214 shares in the last quarter. Balefire LLC boosted its stake in Six Flags Entertainment by 73.7% in the 2nd quarter. Balefire LLC now owns 91,556 shares of the company's stock valued at $2,786,000 after buying an additional 38,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Six Flags Entertainment by 5.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 8,923 shares of the company's stock valued at $287,000 after purchasing an additional 484 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its position in shares of Six Flags Entertainment by 42.5% during the second quarter. Contravisory Investment Management Inc. now owns 5,760 shares of the company's stock worth $175,000 after acquiring an additional 1,717 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company's stock.

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.