Six Flags Entertainment (NYSE:FUN) Releases Quarterly Earnings Results, Misses Estimates By $0.53 EPS

Key Points

• Six Flags Entertainment reported earnings of $0.26 EPS, missing estimates by $0.53 and generating revenues of $930.39 million, below the expected $999.82 million.
• The company's stock price fell to $23.88 after a decline of $1.28 during trading, marking a significant drop from its 50-day moving average of $30.79.
• Analysts have revised price targets downward, with Guggenheim lowering it from $48.00 to $43.00 and Jefferies reducing their target from $41.00 to $25.00, indicating mixed ratings across firms.

Six Flags Entertainment (NYSE:FUN - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.53), Zacks reports. The company had revenue of $930.39 million during the quarter, compared to analysts' expectations of $999.82 million. Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%. The firm's revenue was up 62.8% on a year-over-year basis.

Six Flags Entertainment Stock Performance

Shares of Six Flags Entertainment stock traded down $1.28 during trading hours on Friday, reaching $23.88. 5,591,407 shares of the stock traded hands, compared to its average volume of 2,202,041. The company has a 50 day moving average price of $30.79 and a 200 day moving average price of $35.67. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -4.92 and a beta of 0.82. Six Flags Entertainment has a one year low of $21.44 and a one year high of $49.77. The company has a quick ratio of 0.28, a current ratio of 0.37 and a debt-to-equity ratio of 2.98.

Analysts Set New Price Targets

Several research firms have recently issued reports on FUN. Guggenheim lowered their price target on Six Flags Entertainment from $48.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday. Jefferies Financial Group lowered Six Flags Entertainment from a "buy" rating to a "hold" rating and decreased their target price for the stock from $41.00 to $25.00 in a research report on Thursday. Truist Financial decreased their target price on Six Flags Entertainment from $52.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their target price on Six Flags Entertainment from $47.00 to $43.00 and set an "overweight" rating for the company in a research report on Monday. Finally, Barclays decreased their target price on Six Flags Entertainment from $40.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Six Flags Entertainment has an average rating of "Moderate Buy" and a consensus target price of $41.47.

Insider Activity

In other Six Flags Entertainment news, Director Michelle M. Frymire sold 5,929 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $37.89, for a total transaction of $224,649.81. Following the completion of the sale, the director directly owned 7,162 shares in the company, valued at $271,368.18. The trade was a 45.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

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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