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

Key Points

• Oppenheimer has lowered its price target for Six Flags Entertainment (NYSE:FUN) from $60.00 to $40.00, maintaining an "outperform" rating, indicating a potential upside of 69.42% from the current stock price.
• Multiple analysts have recently decreased their price targets for Six Flags, with some rating it as "underweight" and others as "sell," showcasing a broad negative sentiment towards the stock.
• The company reported a loss of $0.53 per share in its latest quarterly earnings, missing analyst expectations, although revenue increased by 62.8% year-over-year.

Six Flags Entertainment (NYSE:FUN - Free Report) had its price target trimmed by Oppenheimer from $60.00 to $40.00 in a report issued on Thursday, Marketbeat reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on FUN. Morgan Stanley lowered their target price on Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Truist Financial lowered Six Flags Entertainment from a "buy" rating to a "hold" rating and set a $27.00 target price for the company. in a research note on Wednesday, September 3rd. The Goldman Sachs Group lowered their target price on Six Flags Entertainment from $30.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. UBS Group lowered their target price on Six Flags Entertainment from $40.00 to $34.00 and set a "buy" rating for the company in a research note on Tuesday, August 19th. Finally, Stifel Nicolaus lowered their target price on 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. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.36.

Six Flags Entertainment Trading Down 4.1%

NYSE:FUN traded down $1.02 on Thursday, hitting $23.96. 3,818,073 shares of the stock were exchanged, compared to its average volume of 2,397,086. The stock has a market cap of $2.43 billion, a PE ratio of -4.94 and a beta of 0.72. 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 stock has a fifty day moving average of $28.02 and a 200-day moving average of $32.64. Six Flags Entertainment has a fifty-two week low of $21.44 and a fifty-two week high of $49.77.

Six Flags Entertainment (NYSE:FUN - Get Free Report) last announced its quarterly 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 firm had revenue of $930.39 million for the quarter, compared to analyst estimates of $999.82 million. The business's revenue was up 62.8% compared to the same quarter last year. As a group, equities analysts expect that Six Flags Entertainment will post 0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in Six Flags Entertainment by 259.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the company's stock worth $30,000 after buying an additional 722 shares during the last quarter. Allworth Financial LP lifted its holdings in Six Flags Entertainment by 1,179.0% during the 2nd quarter. Allworth Financial LP now owns 1,522 shares of the company's stock worth $46,000 after buying an additional 1,403 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Six Flags Entertainment by 96.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,800 shares of the company's stock worth $55,000 after buying an additional 884 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Six Flags Entertainment by 26.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,830 shares of the company's stock worth $86,000 after buying an additional 586 shares during the last quarter. Finally, ORG Wealth Partners LLC lifted its holdings in Six Flags Entertainment by 45.8% during the 2nd quarter. ORG Wealth Partners LLC now owns 3,188 shares of the company's stock worth $102,000 after buying an additional 1,002 shares during the last quarter. 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.