Six Flags Entertainment (NYSE:FUN) Announces Earnings Results, Misses Estimates By $14.01 EPS

Six Flags Entertainment (NYSE:FUN) announced its quarterly earnings data on Friday. The company reported ($11.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($14.01), Briefing.com reports. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.34 billion. Six Flags Entertainment had a negative net margin of 14.92% and a negative return on equity of 1.00%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.21 earnings per share.

Six Flags Entertainment Price Performance

Shares of FUN traded down $0.33 on Friday, reaching $18.07. The stock had a trading volume of 6,297,753 shares, compared to its average volume of 2,791,334. Six Flags Entertainment has a twelve month low of $17.43 and a twelve month high of $49.77. The firm has a market capitalization of $1.83 billion, a PE ratio of -3.72 and a beta of 0.69. The firm has a 50-day moving average of $22.62 and a 200 day moving average of $28.26. The company has a quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 2.97.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus lowered 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 report on Friday, July 18th. Guggenheim set a $43.00 price objective on Six Flags Entertainment and gave the company a “buy” rating in a report on Thursday, August 7th. Barclays cut their target price on Six Flags Entertainment from $40.00 to $27.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. UBS Group reduced their price target on Six Flags Entertainment from $40.00 to $34.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Finally, Capital One Financial set a $28.00 price objective on Six Flags Entertainment in a report on Tuesday, October 7th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.07.

Institutional Trading of Six Flags Entertainment

Several large investors have recently bought and sold shares of the company. Rush Island Management LP purchased a new position in shares of Six Flags Entertainment during the second quarter valued at approximately $115,454,000. Darlington Partners Capital Management LP grew its stake in Six Flags Entertainment by 20.2% in the 2nd quarter. Darlington Partners Capital Management LP now owns 8,700,000 shares of the company’s stock worth $264,741,000 after acquiring an additional 1,460,000 shares during the period. Balyasny Asset Management L.P. acquired a new position in Six Flags Entertainment in the 2nd quarter valued at $15,270,000. Qube Research & Technologies Ltd lifted its stake in shares of Six Flags Entertainment by 249.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 651,844 shares of the company’s stock worth $19,836,000 after purchasing an additional 465,572 shares during the period. Finally, Kent Lake PR LLC purchased a new position in shares of Six Flags Entertainment during the 2nd quarter worth $3,043,000. 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.