Six Flags Entertainment (SIX) Given New $68.00 Price Target at Oppenheimer

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Six Flags Entertainment (NYSE:SIX) had its price objective lowered by analysts at Oppenheimer from $80.00 to $68.00 in a research report issued to clients and investors on Thursday, The Fly reports. Oppenheimer’s price objective would indicate a potential upside of 13.20% from the company’s previous close. Oppenheimer also issued estimates for Six Flags Entertainment’s FY2019 earnings at $2.88 EPS and FY2020 earnings at $3.28 EPS.

A number of other brokerages have also commented on SIX. Zacks Investment Research lowered Six Flags Entertainment from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Wells Fargo & Co raised Six Flags Entertainment from a “market perform” rating to an “outperform” rating in a research note on Thursday. Berenberg Bank assumed coverage on Six Flags Entertainment in a research note on Wednesday, December 12th. They set a “buy” rating and a $70.00 price target on the stock. ValuEngine raised Six Flags Entertainment from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, B. Riley cut their price objective on Six Flags Entertainment from $81.00 to $72.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $67.44.

Shares of SIX stock opened at $60.07 on Thursday. Six Flags Entertainment has a 12 month low of $49.79 and a 12 month high of $73.38. The stock has a market cap of $5.10 billion, a PE ratio of 24.64 and a beta of 1.24.

Six Flags Entertainment (NYSE:SIX) last announced its quarterly earnings results on Tuesday, October 23rd. The company reported $2.16 EPS for the quarter, missing the Zacks’ consensus estimate of $2.32 by ($0.16). Six Flags Entertainment had a net margin of 20.30% and a negative return on equity of 35.16%. The firm had revenue of $619.82 million for the quarter, compared to analyst estimates of $633.03 million. Sell-side analysts anticipate that Six Flags Entertainment will post 2.59 EPS for the current fiscal year.

In other Six Flags Entertainment news, VP Brett Petit sold 27,750 shares of Six Flags Entertainment stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $63.00, for a total value of $1,748,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.50% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC increased its holdings in Six Flags Entertainment by 3.5% in the third quarter. William Blair Investment Management LLC now owns 4,949,544 shares of the company’s stock worth $345,578,000 after purchasing an additional 165,157 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Six Flags Entertainment by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,685,496 shares of the company’s stock worth $187,501,000 after purchasing an additional 49,490 shares in the last quarter. Capital World Investors bought a new stake in Six Flags Entertainment in the third quarter worth approximately $167,568,000. Bank of New York Mellon Corp increased its holdings in Six Flags Entertainment by 16.6% in the third quarter. Bank of New York Mellon Corp now owns 2,020,972 shares of the company’s stock worth $141,104,000 after purchasing an additional 288,077 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Six Flags Entertainment by 0.7% in the third quarter. Bessemer Group Inc. now owns 1,802,119 shares of the company’s stock worth $125,826,000 after purchasing an additional 12,628 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

About Six Flags Entertainment

Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags brand name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 20 parks, including 17 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.

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Analyst Recommendations for Six Flags Entertainment (NYSE:SIX)

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