Six Flags Entertainment Corp (NYSE:SIX) announced a quarterly dividend on Friday, August 23rd, NASDAQ reports. Stockholders of record on Thursday, September 5th will be paid a dividend of 0.82 per share on Monday, September 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Wednesday, September 4th.
Six Flags Entertainment has increased its dividend by an average of 13.9% per year over the last three years and has raised its dividend every year for the last 9 years. Six Flags Entertainment has a payout ratio of 119.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Six Flags Entertainment to earn $3.01 per share next year, which means the company may not be able to cover its $3.28 annual dividend with an expected future payout ratio of 109.0%.
Shares of SIX opened at $59.17 on Tuesday. The firm has a market capitalization of $4.99 billion, a P/E ratio of 18.32, a P/E/G ratio of 3.16 and a beta of 1.02. Six Flags Entertainment has a 12-month low of $46.68 and a 12-month high of $72.39. The firm has a fifty day moving average price of $54.66 and a 200-day moving average price of $52.62.
A number of analysts recently weighed in on SIX shares. ValuEngine raised shares of Six Flags Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. B. Riley upped their price objective on shares of Six Flags Entertainment from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Wedbush raised shares of Six Flags Entertainment from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $51.00 to $62.00 in a research note on Wednesday, June 19th. Finally, Wells Fargo & Co raised shares of Six Flags Entertainment from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $52.00 to $56.00 in a research note on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Six Flags Entertainment currently has a consensus rating of “Buy” and a consensus target price of $62.70.
In other Six Flags Entertainment news, CFO Marshall Barber sold 468 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $58.98, for a total value of $27,602.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.90% of the company’s stock.
About Six Flags Entertainment
Six Flags Entertainment Corporation owns and operates regional theme and water parks under the Six Flags name. The company's parks offer various thrill rides, water attractions, themed areas, concerts and shows, restaurants, game venues, and retail outlets. It owns and operates 25 parks, including 22 parks in the United States; 2 parks in Mexico; and 1 park in Montreal, Canada.
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