Zacks upgraded shares of Six Flags Entertainment Corp (NYSE:SIX) from a sell rating to a hold rating in a research note released on Thursday morning, AnalystRatingsNetwork.com reports. During the same quarter last year, the company posted ($0.64) earnings per share.
Advertisement
The earnings per share exceeded Wall Street expectations by 5 cents. The amusement park operator posted revenue of $386.1 million in the period, which fell short of Street forecasts. Wedbush initiates coverage on Six Flags Entertainment Corporation New (NYSE:SIX).The analysts at the brokerage house have a current rating of Outperform on the shares.
Six Flags Entertainment Corp (NYSE:SIX) traded down 1.50% during mid-day trading on Thursday, hitting $45.46. SIX stock price has outperformed the S&P 500 by 6.3%. The stock’s 50-day moving average is $46.81 and its 200-day moving average is $46.72.
Now the company Insiders own 5.3% of Six Flags Entertainment Corporation Company shares. Six Flags Entertainment Corp has a one year low of $31.77 and a one year high of $51.09. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company now has an average rating of “Buy” and a consensus target price of $52.73. Second quarter 2015 revenue totaled $5.2 billion, compared to $4.8 billion in the year-ago period, an increase of 9%, driven by stronger performance in all business sectors – new vehicles, used vehicles, parts and service, and finance and insurance. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Excluding currency translations that affected the company’s worldwide parks, revenue rose 4%. The price was at $46.39, gaining 0.22% till the last intraday data.
The company added that it is “progressing nicely” on plans to build several Six-Flags-branded theme parks in China over the next decade and open a park in Dubai in 2017, though executives declined to offer new information on timelines and specific locations.
Advertisement
The company, which is based in Texas, has 18 parks in the U.S., Canada and Mexico. During the year ended December 31, 2012, the Company’s parks offered approximately 800 rides, including over 120 roller coasters, making the Company the provider of thrill rides in the industry. Six Flags owns and operates Six Flags Over Texas and Hurricane Harbor in Arlington.
