Six Flags Entertainment Corp Sees Large Volume Increase Following Earnings Beat (SIX)

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Shares of Six Flags Entertainment Corp (NYSE:SIX) saw strong trading volume on Wednesday following a better than expected earnings announcement, American Banking & Market News reports. 1,209,431 shares traded hands during trading, an increase of 67% from the previous session’s volume of 722,781 shares.The stock last traded at $39.75 and had previously closed at $40.47.

The company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.03. The company had revenue of $73.72 million for the quarter, compared to the consensus estimate of $79.90 million. During the same quarter in the previous year, the company posted ($1.23) earnings per share. The company’s revenue for the quarter was down 15.8% on a year-over-year basis.

A number of research firms have recently commented on SIX. Analysts at Zacks downgraded shares of Six Flags Entertainment Corp from an “outperform” rating to a “neutral” rating in a research note on Friday, March 21st. They now have a $46.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Six Flags Entertainment Corp from $40.00 to $45.00 in a research note on Wednesday, February 19th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Six Flags Entertainment Corp currently has a consensus rating of “Buy” and an average price target of $55.25.

The stock’s 50-day moving average is $40.8 and its 200-day moving average is $37.75. The company has a market cap of $3.787 billion and a P/E ratio of 34.44.

Six Flags Entertainment Corporation (NYSE:SIX), incorporated on December 09, 1997, owns and operates regional theme, water and zoological parks.

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