Six Flags Entertainment (NYSE:FUN) Trading Down 6.6% After Earnings Miss

Six Flags Entertainment Corporation (NYSE:FUN) traded down 6.6% on Monday following a dissappointing earnings announcement. The stock traded as low as $16.65 and last traded at $16.84. 991,515 shares were traded during trading, a decline of 64% from the average session volume of 2,782,509 shares. The stock had previously closed at $18.03.

The company reported ($11.77) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.24 by ($14.01). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.34 billion. Six Flags Entertainment had a negative return on equity of 1.00% and a negative net margin of 14.92%.The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $4.21 EPS.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FUN. JPMorgan Chase & Co. lowered their target price on Six Flags Entertainment from $33.00 to $24.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Mizuho set a $28.00 price objective on Six Flags Entertainment in a research note on Tuesday, November 4th. Guggenheim set a $43.00 target price on Six Flags Entertainment and gave the company a “buy” rating in a report on Thursday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $20.00 price target on shares of Six Flags Entertainment in a report on Monday. Finally, Oppenheimer dropped their price objective on shares of Six Flags Entertainment from $60.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC grew its stake in Six Flags Entertainment by 0.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 39,370 shares of the company’s stock worth $1,198,000 after purchasing an additional 335 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Six Flags Entertainment by 1.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 27,632 shares of the company’s stock valued at $841,000 after buying an additional 399 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Six Flags Entertainment by 4.4% during the second quarter. Ameritas Investment Partners Inc. now owns 9,801 shares of the company’s stock worth $298,000 after buying an additional 413 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of Six Flags Entertainment by 1.2% during the second quarter. Yousif Capital Management LLC now owns 35,141 shares of the company’s stock worth $1,069,000 after buying an additional 433 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Six Flags Entertainment by 10.8% in the third quarter. Nisa Investment Advisors LLC now owns 4,527 shares of the company’s stock valued at $103,000 after acquiring an additional 442 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Six Flags Entertainment Stock Down 9.9%

The company has a debt-to-equity ratio of 2.97, a current ratio of 0.52 and a quick ratio of 0.42. The company has a market cap of $1.65 billion, a PE ratio of -3.35 and a beta of 0.69. The business’s 50 day moving average is $22.49 and its 200-day moving average is $28.02.

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.