Six Flags Entertainment Stock (NYSE: FUN)

Latest news for Six Flags Entertainment (NYSE:FUN) Stock

Six Flags Entertainment

Cedar Fair

Six Flags Entertainment Corp is North America's regional amusement-resort operator with 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico. Six Flags provides coasters, themed rides, thrilling water parks, resorts and a portfolio of beloved intellectual property such as Looney Tunes, DC Comics and PEANUTS.

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Jim Cramer likes Pfizer and recommends buying more stock. Six Flags is struggling, but Cramer likes First Solar and Equity Residential. Moderna has been disappointing, but Cramer likes Vertiv and Powell Industries as buys.

Jim Cramer Labels Moderna A &#39;Big Disappointment,&#39; But Suggests Doubling Down On Another Pharma Powerhouse

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Six Flags&#39; Q2 sees Cedar Fair set records with high attendance and revenue, while Legacy Six Flags reports declines in EBITDA and visitor numbers.

Six Flags Reports Mixed Q2 Results: Cedar Fair Hits Records While Legacy Six Flags Attendance Faces Decline

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Citigroup analyst James Hardiman maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy and lowers the price target from $61 to $58.

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Citigroup Maintains Buy on Six Flags Entertainment, Lowers Price Target to $58

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said he likes Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and recommended <a href="https://www.benzinga.com/quote/PFE/analyst-ratings">buying more of the stock.</a>
On Sept. 16, Cantor Fitzgerald analyst Louise Chen reiterated Pfizer with an Overweight rating and maintained a $45 price target.
&#8220;Six Flags (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>), I don't know, it feels like it's two flags,&#8221; Cramer said. &#8220;This has just been a merger from hell. I'm not really into the stock.&#8221;
On Sept. 16, JPMorgan analyst Matthew Boss maintained Six Flags Entertainment with an Underweight rating and lowered the price target from $48 to $43.
Cramer said he likes First Solar, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), adding that it is an &#8220;up stock.&#8221;
On Sept. 16, BofA Securities analyst Julien Dumoulin-Smith maintained First Solar with a Buy and raised the price target from $320 to $343.
The &#8220;Mad Money&#8221; host said Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) is an &#8220;amazing&#8221; stock, and added that it's a &#8220;total winner.&#8221;
On Sept. 16, several analysts, including, Scotiabank, Evercore ISI Group and JPMorgan, raised their price targets on the stock.
Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) has been a &#8220;big disappointment,&#8221; Cramer said.
Moderna announced on Tuesday that Health Canada approved its vaccine, SPIKEVAX, which aids in preventing COVID-19 in people six months of age or older.
&#8220;On a pullback, absolutely,&#8221; Cramer said when asked about Vertiv Holdings Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>). &#8220;I think it's a winner.&#8221;
On Sept. 11, Vertiv named Frank Poncheri as chief human resources officer.
Cramer said Powell Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POWL#NASDAQ">POWL</a>) is a buy.
On July 30, Powell Industries reported better-than-expected third-quarter GAAP EPS and sales results.
Price Action:
<ul>
<li>Pfizer shares slipped 0.8% to settle at $29.83 on Tuesday.</li>
<li>Powell shares rose 2.5% to close at $174.44 during the session.</li>
<li>First Solar shares rose 2.9% to close at $239.98 during Tuesday's session.</li>
<li>Six Flags shares gained 2.3% to settle at $41.52.</li>
<li>Equity Residential shares fell 0.6% to close at $77.34 on Tuesday.</li>
<li>Moderna shares gained 4.1% to settle at $71.99 on Tuesday.</li>
<li>Vertiv shares gained 0.4% to close at $87.29.</li>
</ul>
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Photo: s_bukley/Shutterstock.com

Jim Cramer Labels Moderna A 'Big Disappointment,' But Suggests Doubling Down On Another Pharma Powerhouse

JP Morgan analyst Matthew Boss maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Underweight and lowers the price target from $48 to $43.

JP Morgan Maintains Underweight on Six Flags Entertainment, Lowers Price Target to $43

The investments include seven new roller coasters that promise to redefine the park experience, along with an expanded roster of popular seasonal events and a wide array of new food and beverage offerings.
Six Flags will also introduce an expanded All Park Passport Add-On that gives Gold and Prestige Passholders and Members unlimited admission and parking to all 42 of the company&#39;s amusement and water parks.
The All Park Passport Add-On is now on sale across all Six Flags parks at prices ranging from&nbsp;$65&nbsp;to&nbsp;$125&nbsp;depending on the Passholders&#39; Pass or Membership level and purchase location. The All Park Passport Add-On is valid for the remainder of the 2024 season at the legacy group of parks based on purchase location.
Beginning January 6, 2025, the All Park Passport Add-On can be used at all combined Six Flags parks and water parks.

Six Flags Unveils Lineup Of Park Investments For 2025; Seven New Roller Coasters To Debut Next Year, Along With Expanded Roster Of Seasonal Events

Goldman Sachs analyst Lizzie Dove maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Neutral and lowers the price target from $63 to $55.

Goldman Sachs Maintains Neutral on Six Flags Entertainment, Lowers Price Target to $55

Citigroup analyst James Hardiman maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy and lowers the price target from $64 to $61.

Citigroup Maintains Buy on Six Flags Entertainment, Lowers Price Target to $61

Macquarie analyst Paul Golding maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Outperform and lowers the price target from $64 to $60.

Macquarie Maintains Outperform on Six Flags Entertainment, Lowers Price Target to $60

B. Riley Securities analyst Eric Wold maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy and lowers the price target from $77 to $65.

B. Riley Securities Maintains Buy on Six Flags Entertainment, Lowers Price Target to $65

Truist Securities analyst Michael Swartz maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy and lowers the price target from $62 to $60.

Truist Securities Maintains Buy on Six Flags Entertainment, Lowers Price Target to $60

Stifel analyst Steven Wieczynski maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy and lowers the price target from $68 to $60.

Stifel Maintains Buy on Six Flags Entertainment, Lowers Price Target to $60

Mizuho analyst Ben Chaiken maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Outperform and lowers the price target from $55 to $52.

Mizuho Maintains Outperform on Six Flags Entertainment, Lowers Price Target to $52

Six Flags Entertainment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) shares are<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> trading higher on Thursday.</a>
The company&nbsp;announced financial results for standalone legacy Cedar Fair and standalone Legacy <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40243945/six-flags-entertainment-corporation-reports-2024-second-quarter-pre-merger-results-for-legacy-ceda" rel="noreferrer noopener">Six Flags for the quarter ended June 30, 2024</a>.
The merger of legacy Cedar Fair and legacy Six Flags occurred on July 1, 2024, after the&nbsp;second quarter&nbsp;close.
For Legacy Cedar Fair, net revenues in the second quarter totaled a record $572 million, an increase of 14%.
Legacy Cedar Fair&#8217;s Adjusted EBITDA reached $205 million, marking a 36% increase of $54 million, with an Adjusted EBITDA margin of 35.9%. Attendance hit a high of 8.6 million guests, up 17% or 1.2 million guests.
In-park per capita spending decreased by 3% to $59.54. Out-of-park revenues totaled a record $73 million, reflecting a 17% increase of $11 million.
&#8220;I am extremely pleased with the second quarter performance of the legacy Cedar Fair portfolio, which produced record levels of attendance and net revenues, and generated a 570-basis-point lift in Legacy Cedar Fair Adjusted EBITDA Margin in the quarter,&#8221; said Six Flags Entertainment Corporation President and CEO Richard A. Zimmerman.
Also Read<a target="_blank" href="https://www.benzinga.com/markets/asia/24/08/40247022/asia-mixed-europe-markets-dip-crude-falls-below-75-and-dollar-slips-global-markets-today-while-us-sl" rel="noreferrer noopener">: Asia Mixed, Europe Markets Dip; Crude Falls Below $75 And Dollar Slips – Global Markets Today While US Slept</a>
For Legacy Six Flags, total revenue was $438 million, a decrease of 1%, or $5 million. Legacy Six Flags reported Adjusted EBITDA of $138 million, down 14% or $23 million, with a Modified EBITDA Margin of 36.9%. Attendance dropped by 2%, totaling 6.9 million guests, a decline of 155,000 visitors.
After certain items, interest expense, loss on early debt extinguishment, income tax expense, and other charges, net income attributable to legacy Six Flags was&nbsp;$34 million, or&nbsp;$0.40&nbsp;per share, versus&nbsp;$21 million, or&nbsp;$0.25&nbsp;per share in&nbsp;the second quarter&nbsp;last year.
&#8220;While weather conditions have negatively impacted demand trends in July, we are confident that the combined portfolio is well positioned to deliver a strong full-year performance in 2024,&#8221; said Zimmerman.
As of June 30, 2024, legacy Cedar Fair had total liquidity of approximately $245 million, including cash on hand and available borrowings under its revolving credit facility.&nbsp;
Price Action: FUN shares are trading higher by 2.46% to $44.29 at last checked Thursday.
Photo via Shutterstock
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Earnings Misses

Cedar Fair Q2 2024 Adj. EPS $0.40 Misses $1.12 Estimate

Cedar Fair Q2 Sales $571.616M Miss $772.344M Estimate

JP Morgan analyst Matthew Boss initiates coverage on Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Underweight rating and announces Price Target of $50.

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JP Morgan Initiates Coverage On Six Flags Entertainment with Underweight Rating, Announces Price Target of $50

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Shares of hotel, restaurant and leisure companies are trading lower amid overall market weakness following weak US data.

Macquarie analyst Paul Golding initiates coverage on Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Outperform rating and announces Price Target of $64.

Macquarie Initiates Coverage On Six Flags Entertainment with Outperform Rating, Announces Price Target of $64

Goldman Sachs analyst Lizzie Dove assumes Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Neutral rating and announces Price Target of $63.

Goldman Sachs Assumes Six Flags Entertainment at Neutral, Announces Price Target of $63

Truist Securities analyst Michael Swartz assumes Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy rating and announces Price Target of $62.

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