SeaWorld Entertainment (NYSE:SEAS) Issues Earnings Results, Beats Expectations By $0.02 EPS

SeaWorld Entertainment (NYSE:SEASGet Rating) announced its quarterly earnings data on Thursday. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.02, Briefing.com reports. SeaWorld Entertainment had a negative return on equity of 690.93% and a net margin of 18.25%. The business had revenue of $504.80 million for the quarter, compared to analysts’ expectations of $504.35 million. During the same period in the previous year, the business posted $1.59 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year.

SeaWorld Entertainment Price Performance

SEAS stock traded up $1.64 during mid-day trading on Friday, reaching $52.71. 1,562,454 shares of the company’s stock were exchanged, compared to its average volume of 1,183,440. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 14.36 and a beta of 2.09. The stock’s 50 day moving average is $47.01 and its 200 day moving average is $58.66. SeaWorld Entertainment has a 12-month low of $40.01 and a 12-month high of $76.57.

Wall Street Analyst Weigh In

SEAS has been the topic of several recent research reports. StockNews.com cut SeaWorld Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, July 8th. Citigroup cut their target price on SeaWorld Entertainment from $62.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 8th. Stifel Nicolaus cut their target price on SeaWorld Entertainment from $94.00 to $66.00 in a research note on Wednesday, July 20th. Rosenblatt Securities started coverage on SeaWorld Entertainment in a research note on Monday, April 25th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, B. Riley increased their price objective on SeaWorld Entertainment from $76.00 to $79.00 in a research report on Friday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.67.

Insiders Place Their Bets

In other news, CEO Marc Swanson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $41.07, for a total value of $164,280.00. Following the transaction, the chief executive officer now owns 174,129 shares in the company, valued at $7,151,478.03. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of SeaWorld Entertainment

A number of institutional investors have recently bought and sold shares of SEAS. Invesco Ltd. grew its stake in shares of SeaWorld Entertainment by 579.7% during the first quarter. Invesco Ltd. now owns 1,122,612 shares of the company’s stock valued at $83,566,000 after acquiring an additional 957,438 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in SeaWorld Entertainment by 3,606.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 807,922 shares of the company’s stock worth $60,142,000 after buying an additional 786,122 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in SeaWorld Entertainment in the 1st quarter worth approximately $14,678,000. Vanguard Group Inc. boosted its stake in shares of SeaWorld Entertainment by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 5,260,747 shares of the company’s stock valued at $391,610,000 after buying an additional 155,068 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of SeaWorld Entertainment by 137.5% during the 1st quarter. Federated Hermes Inc. now owns 199,467 shares of the company’s stock valued at $14,848,000 after buying an additional 115,493 shares during the period.

SeaWorld Entertainment Company Profile

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SeaWorld Entertainment, Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. The company operates SeaWorld theme parks in Orlando, Florida; San Antonio, Texas; and San Diego, California, as well as Busch Gardens theme parks in Tampa, Florida, and Williamsburg, Virginia.

Further Reading

Earnings History for SeaWorld Entertainment (NYSE:SEAS)

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