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Likely Coronavirus Impact on Six Flags (SIX) Q1 Earnings
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Six Flags Entertainment Corporation (SIX - Free Report) is scheduled to report first-quarter 2020 results on Apr 30, before market open. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 100%.
How Are Estimates Placed?
The Zacks Consensus Estimate for first-quarter bottom line is pegged at a loss of $1.09 per share, suggesting deterioration from a loss of 82 cents reported in the year-ago quarter. Over the past 30 days, the company’s earnings estimates have witnessed downward revisions. The consensus estimates for revenues stands at $101.8 million, indicating a decline of 20.6% from the prior-year quarter.
Let's take a look at how things have shaped up prior to the announcement.
Six Flags Entertainment Corporation New Price and EPS Surprise
Due to the coronavirus pandemic, Six Flags temporarily closed its operations in mid-March. This along with high costs of labor, unfavorable weather trends and beautification expenses is likely to show on first-quarter 2020 results.
Moreover, a dismal scenario with regard to sponsorship, international agreements and accommodation businesses is likely to have impacted revenues in the first quarter.
Nonetheless, continuous focus on guests’ spending growth, membership and loyalty reward programs, and product expansion is expected to have aided the top line.
What Our Model Says
Our proven model does not predict an earnings beat for Six Flags this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. This is not the case here, as you will see below.
Earnings ESP: Six Flags has an Earnings ESP of -2.29%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider as our model shows that these have the right combination of elements to post an earnings beat in the upcoming releases:
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) has a Zacks Rank #2 and an Earnings ESP of +14.49%.
Mattel, Inc. (MAT - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.66%.
Churchill Downs Incorporated (CHDN - Free Report) has a Zacks Rank #3 and an Earnings ESP of +112.90%.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
Likely Coronavirus Impact on Six Flags (SIX) Q1 Earnings
Six Flags Entertainment Corporation (SIX - Free Report) is scheduled to report first-quarter 2020 results on Apr 30, before market open. In the last reported quarter, the company’s earnings missed the Zacks Consensus Estimate by 100%.
How Are Estimates Placed?
The Zacks Consensus Estimate for first-quarter bottom line is pegged at a loss of $1.09 per share, suggesting deterioration from a loss of 82 cents reported in the year-ago quarter. Over the past 30 days, the company’s earnings estimates have witnessed downward revisions. The consensus estimates for revenues stands at $101.8 million, indicating a decline of 20.6% from the prior-year quarter.
Let's take a look at how things have shaped up prior to the announcement.
Six Flags Entertainment Corporation New Price and EPS Surprise
Six Flags Entertainment Corporation New price-eps-surprise | Six Flags Entertainment Corporation New Quote
Factors at Play
Due to the coronavirus pandemic, Six Flags temporarily closed its operations in mid-March. This along with high costs of labor, unfavorable weather trends and beautification expenses is likely to show on first-quarter 2020 results.
Moreover, a dismal scenario with regard to sponsorship, international agreements and accommodation businesses is likely to have impacted revenues in the first quarter.
Nonetheless, continuous focus on guests’ spending growth, membership and loyalty reward programs, and product expansion is expected to have aided the top line.
What Our Model Says
Our proven model does not predict an earnings beat for Six Flags this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. This is not the case here, as you will see below.
Earnings ESP: Six Flags has an Earnings ESP of -2.29%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks Poised to Beat Earnings Estimates
Here are some stocks from the Zacks Consumer Discretionary sector that investors may consider as our model shows that these have the right combination of elements to post an earnings beat in the upcoming releases:
BJ's Wholesale Club Holdings, Inc. (BJ - Free Report) has a Zacks Rank #2 and an Earnings ESP of +14.49%.
Mattel, Inc. (MAT - Free Report) has a Zacks Rank #2 and an Earnings ESP of +1.66%.
Churchill Downs Incorporated (CHDN - Free Report) has a Zacks Rank #3 and an Earnings ESP of +112.90%.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>