SeaWorld Entertainment, Inc. to Post Q1 2024 Earnings of ($0.18) Per Share, KeyCorp Forecasts (NYSE:SEAS)

Posted by Defense World Staff on May 27th, 2023

SeaWorld Entertainment, Inc. (NYSE:SEAS – Get Rating) – Analysts at KeyCorp issued their Q1 2024 EPS estimates for SeaWorld Entertainment in a research report issued on Wednesday, May 24th. KeyCorp analyst R. Aurand anticipates that the company will post earnings of ($0.18) per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for SeaWorld Entertainment’s current full-year earnings is $5.06 per share. KeyCorp also issued estimates for SeaWorld Entertainment’s Q2 2024 earnings at $1.89 EPS, Q3 2024 earnings at $2.48 EPS, Q4 2024 earnings at $0.85 EPS and FY2024 earnings at $5.05 EPS.

SeaWorld Entertainment (NYSE:SEAS – Get Rating) last issued its earnings results on Tuesday, May 9th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.07). SeaWorld Entertainment had a negative return on equity of 66.21% and a net margin of 16.18%. The firm had revenue of $293.40 million for the quarter, compared to analyst estimates of $281.40 million. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. SeaWorld Entertainment’s quarterly revenue was up 8.4% on a year-over-year basis.

A number of other research analysts have also recently commented on the stock. Truist Financial increased their target price on shares of SeaWorld Entertainment from $60.00 to $72.00 in a report on Wednesday, March 1st. StockNews.com initiated coverage on SeaWorld Entertainment in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Credit Suisse Group raised their target price on SeaWorld Entertainment from $84.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, March 1st. B. Riley lifted their price objective on SeaWorld Entertainment from $75.00 to $80.00 in a report on Wednesday, March 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on SeaWorld Entertainment from $76.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, March 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, SeaWorld Entertainment has a consensus rating of “Moderate Buy” and an average target price of $73.63.

SeaWorld Entertainment Stock Performance

Shares of SeaWorld Entertainment stock opened at $55.39 on Friday. The firm has a 50-day moving average of $56.32 and a 200-day moving average of $57.78. The stock has a market cap of $3.54 billion, a PE ratio of 13.48 and a beta of 1.98. SeaWorld Entertainment has a 52-week low of $40.01 and a 52-week high of $68.19.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SEAS. Signaturefd LLC boosted its position in SeaWorld Entertainment by 207.7% during the third quarter. Signaturefd LLC now owns 563 shares of the company’s stock worth $26,000 after purchasing an additional 380 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in SeaWorld Entertainment during the first quarter worth approximately $68,000. Natixis purchased a new position in SeaWorld Entertainment during the fourth quarter worth approximately $76,000. Covestor Ltd increased its stake in SeaWorld Entertainment by 588.6% during the first quarter. Covestor Ltd now owns 1,632 shares of the company’s stock worth $121,000 after acquiring an additional 1,395 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in SeaWorld Entertainment during the fourth quarter worth $106,000.

Insider Transactions at SeaWorld Entertainment

In other SeaWorld Entertainment news, insider George Anthony Taylor sold 32,176 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The stock was sold at an average price of $58.09, for a total transaction of $1,869,103.84. Following the completion of the transaction, the insider now owns 109,984 shares in the company, valued at approximately $6,388,970.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other SeaWorld Entertainment news, insider James W. Forrester, Jr. sold 2,615 shares of SeaWorld Entertainment stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $67.21, for a total transaction of $175,754.15. Following the completion of the sale, the insider now directly owns 5,730 shares of the company’s stock, valued at approximately $385,113.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider George Anthony Taylor sold 32,176 shares of the business’s stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $58.09, for a total value of $1,869,103.84. Following the completion of the transaction, the insider now directly owns 109,984 shares of the company’s stock, valued at $6,388,970.56. The disclosure for this sale can be found here. Insiders have sold 48,980 shares of company stock valued at $2,851,616 over the last quarter. 1.00% of the stock is currently owned by company insiders.

About SeaWorld Entertainment

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SeaWorld Entertainment, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.