Six Flags Entertainment Stock (NYSE: FUN)

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.

Los Angeles Wildfires Claim 24 Lives, But Toxic Smoke Threatens Thousands More, Experts Warn

Equities

News

Another wildfire caused by strong winds in Los Angeles County, threatening thousands of residents and businesses. Evacuations ordered and roads closed.

New Fire Breaks Out In Los Angeles County

Early Starch Digestion Began in the Mouth

Analyst Color

Entertainment

Mid Cap

Price Target

Initiation

Analyst Ratings

Trading Ideas

General

PSCD

Jefferies initiates coverage on Six Flags (FUN) with Buy rating and $59.00 price target. Merger with Cedar Fair offers long-term opportunity.

Six Flags-Cedar Fair Merger Unlocks $200 Million In Synergies, Analyst Sees Big Growth Potential

Analysts

Pre-Market Outlook

ELAN

This Six Flags Entertainment Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Monday

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Strong winds have caused another wildfire in Los Angeles County following the devastation wrought by <a href="https://www.benzinga.com/news/25/01/43066552/celebrity-realtor-josh-altman-says-half-of-palisades-residents-wont-move-back-after-fire">fires in Pacific Palisades</a> and Altadena.
What Happened: The Hughes Fire broke out midday Wednesday during a period of high winds in the area. The fire is concentrated in Castaic, a city of around 19,000 <a href="https://www.census.gov/quickfacts/fact/table/castaiccdpcalifornia/PST045224">residents</a> near the northernmost boundary of Los Angeles County.
Calfire <a href="https://www.fire.ca.gov/incidents/2025/1/22/hughes-fire/updates/685154eb-f60a-4d8f-b8df-0d59dbf1899f">estimates</a> the fire to have burned over 5,000 acres as of 1:03 p.m. PST with none of the fire contained. The Palisades fire burned over 23,000 acres <a href="https://www.latimes.com/wildfires-map/">according</a> to the Los Angeles Times.
The fire&#8217;s epicenter is roughly 10 miles north of Santa Clarita, a city of <a href="https://www.census.gov/quickfacts/fact/table/santaclaritacitycalifornia/PST045223">over</a> 224,000 residents, <a href="https://www.google.com/maps/@34.4567708,-118.580079,12.51z/data=!5m1!1e8?hl=en-US&amp;entry=ttu&amp;g_ep=EgoyMDI1MDEyMC4wIKXMDSoASAFQAw%3D%3D">according</a> to Google Maps.
Evacuations were <a href="https://www.fire.ca.gov/incidents/2025/1/22/hughes-fire">ordered</a> near Castaic and other rural areas surrounding the fire. Authorities issued warnings for the nearby hamlets Castaic Junction, Sandberg and Three Points. There are thus far no warnings for Santa Clarita.
Several nearby roads were closed due to smoke emanating from the fire, CBS reported.
Two Stocks To Watch: Six Flags Entertainment Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) operates its Six Flags Magic Mountain Valencia location in the area. The park <a href="https://www.scvedc.org/top-employers">employs</a> 3,000.
Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>) is the parent company of Southern California Edison, which serves the Los Angeles County area. Wildfires can damage power lines, and utilities often face lawsuits if equipment is suspected to have caused the fire. The company&#8217;s exposure to previous fires led to a large market selloff.
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Photo: Shutterstock

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 raises the price target from $54 to $56.

Truist Securities Maintains Buy on Six Flags Entertainment, Raises Price Target to $56

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Consumer Discretionary sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TSLA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>12/27/24</td>
<td>$430.00</td>
<td>$36.1K</td>
<td>11.9K</td>
<td>94.1K</td>
</tr>
<tr>
<td>AMZN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/27/24</td>
<td>$210.00</td>
<td>$37.4K</td>
<td>4.1K</td>
<td>744</td>
</tr>
<tr>
<td>FUN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$50.00</td>
<td>$37.5K</td>
<td>2.0K</td>
<td>634</td>
</tr>
<tr>
<td>GME</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$25.00</td>
<td>$59.2K</td>
<td>0</td>
<td>227</td>
</tr>
<tr>
<td>LEVI</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$13.00</td>
<td>$37.8K</td>
<td>2.6K</td>
<td>170</td>
</tr>
<tr>
<td>BIRK</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$55.00</td>
<td>$32.7K</td>
<td>165</td>
<td>111</td>
</tr>
<tr>
<td>MCD</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$255.00</td>
<td>$53.5K</td>
<td>129</td>
<td>100</td>
</tr>
<tr>
<td>HD</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/03/25</td>
<td>$440.00</td>
<td>$334.9K</td>
<td>0</td>
<td>70</td>
</tr>
<tr>
<td>ABNB</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$130.00</td>
<td>$45.1K</td>
<td>228</td>
<td>46</td>
</tr>
<tr>
<td>BKNG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$4650.00</td>
<td>$41.0K</td>
<td>761</td>
<td>34</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For TSLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), we notice a put option sweep that happens to be neutral, is expiring today. Parties traded 190 contract(s) at a $430.00 strike. This particular put needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $36.1K, with a price of $191.0 per contract. There were 11932 open contracts at this strike prior to today, and today 94113 contract(s) were bought and sold. 
• For AMZN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), we notice a call option sweep that happens to be bullish, is expiring today. Parties traded 30 contract(s) at a $210.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $37.4K, with a price of $1243.0 per contract. There were 4125 open contracts at this strike prior to today, and today 744 contract(s) were bought and sold. 
• For FUN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>), we notice a call option sweep that happens to be bearish, expiring in 21 day(s) on January 17, 2025. This event was a transfer of 300 contract(s) at a $50.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $37.5K, with a price of $125.0 per contract. There were 2006 open contracts at this strike prior to today, and today 634 contract(s) were bought and sold. 
• Regarding GME (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), we observe a call option trade with bullish sentiment. It expires in 42 day(s) on February 7, 2025. Parties traded 75 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $59.2K, with a price of $790.0 per contract. There were 0 open contracts at this strike prior to today, and today 227 contract(s) were bought and sold. 
• Regarding LEVI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>), we observe a call option trade with neutral sentiment. It expires in 21 day(s) on January 17, 2025. Parties traded 90 contract(s) at a $13.00 strike. The total cost received by the writing party (or parties) was $37.8K, with a price of $420.0 per contract. There were 2612 open contracts at this strike prior to today, and today 170 contract(s) were bought and sold. 
• Regarding BIRK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIRK#NYSE">BIRK</a>), we observe a put option trade with bullish sentiment. It expires in 111 day(s) on April 17, 2025. Parties traded 111 contract(s) at a $55.00 strike. The total cost received by the writing party (or parties) was $32.7K, with a price of $295.0 per contract. There were 165 open contracts at this strike prior to today, and today 111 contract(s) were bought and sold. 
• For MCD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>), we notice a put option sweep that happens to be bearish, expiring in 266 day(s) on September 19, 2025. This event was a transfer of 100 contract(s) at a $255.00 strike. This particular put needed to be split into 37 different trades to become filled. The total cost received by the writing party (or parties) was $53.5K, with a price of $535.0 per contract. There were 129 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• For HD (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>), we notice a put option trade that happens to be neutral, expiring in 7 day(s) on January 3, 2025. This event was a transfer of 70 contract(s) at a $440.00 strike. The total cost received by the writing party (or parties) was $334.9K, with a price of $4785.0 per contract. There were 0 open contracts at this strike prior to today, and today 70 contract(s) were bought and sold. 
• Regarding ABNB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABNB#NASDAQ">ABNB</a>), we observe a call option trade with bearish sentiment. It expires in 56 day(s) on February 21, 2025. Parties traded 44 contract(s) at a $130.00 strike. The total cost received by the writing party (or parties) was $45.1K, with a price of $1026.0 per contract. There were 228 open contracts at this strike prior to today, and today 46 contract(s) were bought and sold. 
• For BKNG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKNG#NASDAQ">BKNG</a>), we notice a call option trade that happens to be bullish, expiring in 21 day(s) on January 17, 2025. This event was a transfer of 1 contract(s) at a $4650.00 strike. The total cost received by the writing party (or parties) was $41.0K, with a price of $41000.0 per contract. There were 761 open contracts at this strike prior to today, and today 34 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

ABNB

AMZN

BIRK

BKNG

LEVI

TSLA

10 Consumer Discretionary Stocks With Whale Alerts In Today's Session

Jefferies analyst David&nbsp;Katz initiated coverage on Six Flags Entertainment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a <a target="_blank" href="https://www.benzinga.com/quote/fun/analyst-ratings" rel="noreferrer noopener">Buy rating and a price target of $59.00</a>.
The analyst writes that the merger of Six Flags and Cedar Fair offers a strong long-term opportunity, with Cedar Fair&#8217;s management positioned to unlock significant earnings potential.
Notably, on July 1, legacy Cedar Fair and legacy Six Flags closed the merger transactions to form the new&nbsp;<a target="_blank" href="https://www.benzinga.com//node/39583444" rel="noreferrer noopener">combined company Six Flags Entertainment Corporation.</a>
Katz projects a smooth integration between both companies, as their parks have minimal geographic overlap.
The analyst expects Cedar Fair&#8217;s management to unlock the value of Six Flags&#8217; assets and achieve at least $200 million in synergies ($80 million in revenue and $120 million in cost savings) by the end of 2026.
Execution opportunities in technology, labor, marketing, and operations should be easy wins for the new company, which is likely to end 2024 with a 5x net debt/EBITDA ratio, adds the analyst.
The analyst considers the guidance of &lt;3.5x by the end of 2027 to be conservative and notes Six Flags could reach this target by the end of 2026.
Katz forecasts modest EBITDA growth in FY25E and FY26E, with over $1.5 billion in free cash flow generated from fourth-quarter FY24 through FY26, including 12%-13% of revenue spent on capital expenditure.
Last month, the company reported third-quarter adjusted earnings per share of $2.10,&nbsp;missing the street view of $3.39. Quarterly sales of $1.348 billion outpaced the analyst <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41775737/six-flags-entertainment-q3-earnings-revenue-beats-merger-synergies-strong-q4-expectations-more" rel="noreferrer noopener">consensus estimate of $1.339 billion</a>.
Investors can gain exposure to the stock via&nbsp;Invesco S&amp;P SmallCap Consumer Discretionary ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSCD#NASDAQ">PSCD</a>).
Price Action: FUN shares are up 0.04% at $47.28 at the last check Monday.
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Image via Shutterstock.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>UBS analyst Andrea Alfonso initiated coverage on Elanco Animal Health Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELAN#NYSE">ELAN</a>) with a Buy rating and announced a price target of $18. Elanco Animal Health shares closed at $12.50 on Friday. <a href="https://www.benzinga.com/quote/ELAN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank analyst Bernard von-Gizycki initiated coverage on Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>) with a Buy rating and announced a price target of $64. Synovus Finl shares closed at $55.77 on Friday. <a href="https://www.benzinga.com/quote/SNV/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst David Katz initiated coverage on Six Flags Entertainment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy rating and announced a price target of $59. Six Flags Entertainment shares closed at $47.26 on Friday. <a href="https://www.benzinga.com/quote/FUN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>JP Morgan analyst Alexei Gogolev initiated coverage on Bentley Systems, Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSY#NASDAQ">BSY</a>) with a Neutral rating and announced a price target of $52. Bentley Systems shares closed at $49.74 on Friday. <a href="https://www.benzinga.com/quote/BSY/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Cantor Fitzgerald analyst Brett Knoblauch initiated coverage on Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) with an Overweight rating and announced a price target of $35. Hut 8 shares closed at $30.24 on Friday. <a href="https://www.benzinga.com/quote/HUT/analyst-ratings">See how other analysts view this stock.</a></li>
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Jefferies analyst David Katz initiates coverage on 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 $59.

Jefferies Initiates Coverage On Six Flags Entertainment with Buy Rating, Announces Price Target of $59

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 raises the price target from $53 to $57.

Citigroup Maintains Buy on Six Flags Entertainment, Raises Price Target to $57

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
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<li>Keybanc boosted the price target for Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) from $40 to $48. Keybanc analyst Ken Newman maintained an Overweight rating. Symbotic shares closed at $30.56 on Monday. <a href="https://www.benzinga.com/quote/SYM/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler cut the price target for The Kraft Heinz Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KHC#NASDAQ">KHC</a>) from $40 to $35. Piper Sandler analyst Michael Lavery downgraded the stock from Overweight to Neutral. Kraft Heinz shares closed at $31.07 on Monday. <a href="https://www.benzinga.com/quote/KHC/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Phillip Securities raised Sea Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SE#NYSE">SE</a>) price target from $80 to $100. Phillip Securities analyst Helena Wang downgraded the stock from Neutral to Reduce. Sea shares settled at $108.63 on Monday. <a href="https://www.benzinga.com/quote/SE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen boosted United Airlines Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) price target from $100 to $125. TD Cowen analyst Helane Becker maintained a Buy rating. United Airlines shares closed at $90.38 on Monday. <a href="https://www.benzinga.com/quote/UAL/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. boosted Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) price target from $17 to $18. HC Wainwright &amp; Co. analyst Mike Colonnese maintained a Buy rating. Bitdeer shares closed at $11.85 on Monday.  <a href="https://www.benzinga.com/quote/BTDR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Guggenheim boosted Six Flags Entertainment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) price target from $52 to $55. Guggenheim analyst Curry Baker maintained a Buy rating. Six Flags Entertainment shares closed at $45.65 on Monday. See how other analysts view this stock.</li>
<li>Truist Securities boosted the price target for NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) from $148 to $167. Truist Securities analyst William Stein maintained a Buy rating. Nvidia shares settled at $140.15 on Monday. <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Oppenheimer boosted Guidewire Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) price target from $200 to $220. Oppenheimer analyst Ken Wong maintained an Outperform rating. Guidewire shares closed at $194.04 on Monday. <a href="https://www.benzinga.com/quote/GWRE/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Benchmark increased the price target for MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) from $300 to $450. Benchmark analyst Mark Palmer maintained a Buy rating. MicroStrategy shares closed at $384.79 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Deutsche Bank boosted Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) price target from $77 to $90. Deutsche Bank analyst Brad Zelnick maintained a Hold rating. Fortinet shares closed at $91.88 on Monday. <a href="https://www.benzinga.com/quote/FTNT/analyst-ratings">See how other analysts view this stock</a>.</li>
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Considering buying NVDA stock? Here&#8217;s what analysts think: 
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Guggenheim analyst Curry Baker maintains Six Flags Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy and raises the price target from $52 to $55.

Guggenheim Maintains Buy on Six Flags Entertainment, Raises Price Target to $55

<ul>
<li>New rides, attractions, themed areas, dining upgrades, technology and infrastructure improvements planned across network of 42 parks in North America</li>
</ul>
Six Flags Entertainment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>), the largest amusement park operator in North America, today announced it will invest more than $1 billion over the next two years to enhance the guest experience at its 42 parks. The investments, which will total between $500 million and $525 million in both 2025 and 2026, will include new rides, attractions, themed areas, dining upgrades, and technology enhancements that are sure to deliver an unparalleled level of fun and excitement to guests of all ages.

Contracts

Six Flags To Invest More Than $1B Over The Next Two Years To Enhance Guest Experience; The Investments, Which Will Total Between $500 Million And $525 Million In Both 2025 And 2026

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 maintains $55 price target.

Macquarie Maintains Outperform on Six Flags Entertainment, Maintains $55 Price Target

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 raises the price target from $43 to $46.

JP Morgan Maintains Underweight on Six Flags Entertainment, Raises Price Target to $46

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/premarket" rel="noreferrer noopener"> trading higher on Wednesday.</a>
The company reported third-quarter adjusted earnings per share of $2.10, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41766955/six-flags-entertainment-corporation-reports-2024-third-quarter-results-announces-new-long-range-st" rel="noreferrer noopener">missing the street view of $3.39</a>. Quarterly sales of $1.348 billion outpaced the analyst consensus estimate of $1.339 billion.
Operating days&nbsp;in the quarter totaled 2,585, compared with 1,091 last year. About 1,591 of the additional operating days were contributed by the legacy Six Flags operations added in the merger.
On July 1, legacy Cedar Fair and legacy Six Flags closed the merger transactions to form the new <a target="_blank" href="https://www.benzinga.com//node/39583444" rel="noreferrer noopener">combined company Six Flags Entertainment Corporation.</a>
Adjusted EBITDA, which the management notes as a meaningful measure of park-level operating results, increased $170 million to $558 million.
&#8220;While extreme weather and other operating disruptions at critical points during the third quarter impacted our financial results, consumer demand for our parks remained strong during normalized operating conditions,&#8221; said Six Flags President and CEO Richard A. Zimmerman.&nbsp;
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The company stated that by the end of 2024, it expects to achieve $50 million in run-rate cost synergies and is already working towards the remaining $70 million in cost savings, which it aims to realize by the end of 2025.
Liquidity&nbsp;as of September 29 totaled $743 million, including cash on hand and available borrowings under the combined company&#8217;s revolving credit facility.
While planning to reinvest in its parks to improve the guest experience and boost attendance, the company intends to fund these initiatives through additional cost savings across the portfolio, ensuring it retains 100% of the realized synergies.
Based on the strength of October&#8217;s performance, management now expects the combined company to be on pace to achieve fourth-quarter Adjusted EBITDA of $205 million &#8211; $215 million.
Six Flags noted that as part of Project Accelerate, it has established a new annual unlevered pre-tax free cash flow target of at least $800 million by 2027.
Price Action: FUN shares are trading higher by 9.57% to $46.62 at last check Wednesday.
Image via Shutterstock
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Earnings

Guidance

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Six Flags Entertainment Q3 Earnings: Revenue Beats, Merger Synergies,  Strong Q4 Expectations & More

Six Flags Entertainment Says It Is Targeting At Least $800M Of Annual Unlevered Pre-tax Free Cash Flow By 2027

Cedar Fair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) reported quarterly earnings of $1.10 per share. The company reported quarterly sales of $1.348 billion which beat the analyst consensus estimate of $1.339 billion by 0.67 percent. This is a 60.09 percent increase over sales of $842.009 million the same period last year.

Earnings Beats

Earnings Misses

Cedar Fair Q3 2024 Adj. EPS $1.10, Sales $1.348B Beat $1.339B Estimate

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/630df376daaf0c000120c881/young-li">Jefferies analyst Young Li</a> initiated coverage on RxSight, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXST#NASDAQ">RXST</a>) with a Buy rating and announced a price target of $72. RxSight shares closed at $50.25 on Monday. <a href="https://www.benzinga.com/quote/RXST/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Guggenheim analyst Curry Baker initiated coverage on Six Flags Entertainment Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FUN#NYSE">FUN</a>) with a Buy rating and announced a price target of $52. Six Flags shares closed at $42.11 on Monday. <a href="https://www.benzinga.com/quote/FUN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/586e4ac4351b9b00018bef0b/anthony-crowdell">Mizuho analyst Anthony Crowdell</a> initiated coverage on Evergy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVRG#NASDAQ">EVRG</a>) with an Outperform rating and announced a price target of $67. Evergy shares closed at $60.97 on Monday. <a href="https://www.benzinga.com/quote/EVRG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Barclays analyst Adam Seiden initiated coverage on CRH plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRH#NYSE">CRH</a>) with an Overweight rating and announced a price target of $110. CRH shares closed at $94.40 on Monday. <a href="https://www.benzinga.com/quote/CRH/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Rodman &amp; Renshaw analyst Elemer Piros initiated coverage on Quince Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QNCX#NASDAQ">QNCX</a>) with a Buy rating and announced a price target of $11. Quince Therapeutics shares closed at $0.9916 on Monday. <a href="https://www.benzinga.com/quote/QNCX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying FUN stock? Here&#8217;s what analysts think:
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="498" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29081035/image-295-1024x498.png" alt="" class="wp-image-619205" style="width:607px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29081035/image-295-1024x498.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29081035/image-295-300x146.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29081035/image-295-768x373.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/29081035/image-295.png 1272w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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This Six Flags Entertainment Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Tuesday

Guggenheim analyst Curry Baker initiates coverage on 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 $52.

Guggenheim Initiates Coverage On Six Flags Entertainment with Buy Rating, Announces Price Target of $52

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 $55 to $47.

Goldman Sachs Maintains Neutral on Six Flags Entertainment, Lowers Price Target to $47

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 $60 to $54.

Truist Securities Maintains Buy on Six Flags Entertainment, Lowers Price Target to $54

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 $60 to $55.

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