SeaWorld Entertainment, Inc. Expected to Post Q2 2023 Earnings of $1.71 Per Share (NYSE:SEAS)

Posted by Defense World Staff on Jul 16th, 2023

SeaWorld Entertainment, Inc. (NYSE:SEAS – Free Report) – KeyCorp cut their Q2 2023 earnings estimates for shares of SeaWorld Entertainment in a research note issued on Wednesday, July 12th. KeyCorp analyst R. Aurand now expects that the company will post earnings of $1.71 per share for the quarter, down from their previous forecast of $1.75. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for SeaWorld Entertainment’s current full-year earnings is $5.00 per share. KeyCorp also issued estimates for SeaWorld Entertainment’s FY2023 earnings at $4.65 EPS.

SeaWorld Entertainment (NYSE:SEAS – Get Free Report) last posted its earnings results on Tuesday, May 9th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.07). The firm had revenue of $293.40 million for the quarter, compared to analysts’ expectations of $281.40 million. SeaWorld Entertainment had a net margin of 16.18% and a negative return on equity of 66.21%. SeaWorld Entertainment’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) earnings per share.

SEAS has been the topic of a number of other research reports. StockNews.com assumed coverage on shares of SeaWorld Entertainment in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. The Goldman Sachs Group assumed coverage on shares of SeaWorld Entertainment in a research note on Wednesday, May 31st. They issued a “buy” rating and a $75.00 price target on the stock. Morgan Stanley assumed coverage on shares of SeaWorld Entertainment in a research note on Thursday, April 20th. They issued an “overweight” rating and a $70.00 price target on the stock. Citigroup lifted their price target on shares of SeaWorld Entertainment from $58.00 to $60.00 in a research note on Wednesday, May 10th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $69.00 price target on shares of SeaWorld Entertainment in a research note on Wednesday, March 22nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, SeaWorld Entertainment presently has an average rating of “Moderate Buy” and a consensus target price of $73.78.

SeaWorld Entertainment Price Performance

NYSE:SEAS opened at $53.26 on Friday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 12.96 and a beta of 1.93. The company has a 50 day moving average price of $56.76 and a 200-day moving average price of $58.36. SeaWorld Entertainment has a 1-year low of $40.62 and a 1-year high of $68.19.

Institutional Investors Weigh In On SeaWorld Entertainment

A number of hedge funds have recently modified their holdings of the company. Capital Fund Management S.A. grew its holdings in shares of SeaWorld Entertainment by 1.7% in the fourth quarter. Capital Fund Management S.A. now owns 10,480 shares of the company’s stock valued at $561,000 after purchasing an additional 180 shares during the period. Captrust Financial Advisors lifted its position in SeaWorld Entertainment by 3.2% in the third quarter. Captrust Financial Advisors now owns 7,705 shares of the company’s stock valued at $351,000 after buying an additional 239 shares during the last quarter. Affinity Investment Advisors LLC lifted its position in SeaWorld Entertainment by 2.5% in the fourth quarter. Affinity Investment Advisors LLC now owns 13,247 shares of the company’s stock valued at $709,000 after buying an additional 325 shares during the last quarter. Royal Bank of Canada lifted its position in SeaWorld Entertainment by 2.7% in the third quarter. Royal Bank of Canada now owns 13,252 shares of the company’s stock valued at $603,000 after buying an additional 344 shares during the last quarter. Finally, Credit Suisse AG lifted its position in SeaWorld Entertainment by 0.7% in the first quarter. Credit Suisse AG now owns 55,145 shares of the company’s stock valued at $3,381,000 after buying an additional 357 shares during the last quarter.

Insider Transactions at SeaWorld Entertainment

In other news, CEO Marc Swanson sold 4,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $59.31, for a total transaction of $237,240.00. Following the completion of the sale, the chief executive officer now owns 156,537 shares of the company’s stock, valued at $9,284,209.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Christopher Dold sold 3,341 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $60.00, for a total value of $200,460.00. Following the completion of the sale, the insider now owns 50,136 shares of the company’s stock, valued at $3,008,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Swanson sold 4,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $59.31, for a total transaction of $237,240.00. Following the completion of the sale, the chief executive officer now directly owns 156,537 shares of the company’s stock, valued at approximately $9,284,209.47. The disclosure for this sale can be found here. Insiders sold 11,341 shares of company stock valued at $660,940 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

SeaWorld Entertainment Company Profile

(Get Free Report)

SeaWorld Entertainment, Inc, together with its subsidiaries, operates as a theme park and entertainment company in the United States. It 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.