Six Flags Entertainment Co. (NYSE:SIX) Expected to Post Q2 2023 Earnings of $0.90 Per Share

Six Flags Entertainment Co. (NYSE:SIX – Get Rating) – Equities researchers at B. Riley decreased their Q2 2023 earnings per share (EPS) estimates for shares of Six Flags Entertainment in a report released on Friday, March 3rd. B. Riley analyst E. Wold now anticipates that the company will post earnings per share of $0.90 for the quarter, down from their previous estimate of $0.99. The consensus estimate for Six Flags Entertainment’s current full-year earnings is $1.94 per share. B. Riley also issued estimates for Six Flags Entertainment’s Q2 2024 earnings at $1.10 EPS, Q3 2024 earnings at $2.17 EPS and FY2024 earnings at $2.93 EPS.

A number of other research analysts have also weighed in on SIX. Stifel Nicolaus reduced their target price on Six Flags Entertainment from $30.00 to $27.00 in a report on Friday, November 11th. Deutsche Bank Aktiengesellschaft reduced their target price on Six Flags Entertainment from $32.00 to $29.00 in a report on Friday, November 11th. Jefferies Financial Group lowered Six Flags Entertainment from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $24.00 in a report on Tuesday, November 8th. TheStreet lowered Six Flags Entertainment from a “c” rating to a “d+” rating in a report on Thursday. Finally, Oppenheimer dropped their price target on Six Flags Entertainment to $27.00 in a research report on Tuesday, November 15th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $29.55.

Six Flags Entertainment Stock Performance

Shares of SIX opened at $30.40 on Monday. The firm has a market cap of $2.53 billion, a P/E ratio of 23.03 and a beta of 2.19. Six Flags Entertainment has a fifty-two week low of $16.83 and a fifty-two week high of $44.82. The business has a 50-day moving average of $26.69 and a 200 day moving average of $23.45.

Insider Buying and Selling

In other news, CFO Gary Mick bought 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The stock was bought at an average price of $21.94 per share, for a total transaction of $49,365.00. Following the transaction, the chief financial officer now directly owns 54,425 shares of the company’s stock, valued at approximately $1,194,084.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 8,750 shares of company stock worth $192,175 in the last quarter. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Six Flags Entertainment

A number of large investors have recently bought and sold shares of SIX. Raymond James & Associates increased its stake in shares of Six Flags Entertainment by 79.3% during the first quarter. Raymond James & Associates now owns 41,820 shares of the company’s stock valued at $1,819,000 after buying an additional 18,491 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Six Flags Entertainment during the first quarter valued at approximately $771,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Six Flags Entertainment during the first quarter valued at approximately $109,000. MetLife Investment Management LLC grew its stake in Six Flags Entertainment by 37.0% in the first quarter. MetLife Investment Management LLC now owns 51,361 shares of the company’s stock worth $2,234,000 after purchasing an additional 13,860 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Six Flags Entertainment by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,361 shares of the company’s stock worth $1,234,000 after purchasing an additional 2,704 shares during the period. 92.11% of the stock is owned by hedge funds and other institutional investors.

About Six Flags Entertainment

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Six Flags Entertainment Corp. operates theme parks. It operates under the brand name Six Flags, which offers rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. The company was founded by Angus G. Wynne Jr. in 1961 and is headquartered in Arlington, TX.