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SeaWorld started at buy with $22 stock price target at SunTrust RH

rooz SeaWorld started at buy with $22 stock price target at SunTrust RH image

SeaWorld started at buy with $22 stock price target at SunTrust RH SeaWorld started at buy with $22 stock price target at SunTrust RH Apr. 13, 2017 at 6:59 a.m. ET by Tomi Kilgore Mar. 24, 2017 at 4:44 p.m. ET by Barbara Kollmeyer SeaWorld’s stock still inactive in premarket trade SeaWorld’s stock still inactive in premarket trade Mar. 24, 2017 at 7:05 a.m. ET by Tomi Kilgore Blackstone to sell its Seaworld stake to China’s Zhonghong at a 33% premium to market prices SeaWorld Entertainment Inc. said Friday it was selling a 21% equity stake held by affiliates of the Blackstone Group to a subsidiary of China’s Zhonghong Zhuoye Group Co. Ltd. for $23 a share. That represents a 33% premium to Thursday’s stock closing price of $17.31. As part of the deal, which is expected to close in the second quarter of 2017, SeaWorld will advise Zhonghong on the development and design of theme parks operated by Zhonghong. SeaWorld will expand its board to 11 members to add two Zhonghong executives. Once the deal is completed, Blackstone will no longer hold any equity interest in SeaWorld or have any board seats. Blackstone is currently SeaWorld’s largest shareholder with 19.5 million share, according to FactSet. At $23 a share, that stake would be valued at $448.5 million. “Zhonghong Group is making a significant, long-term investment in SeaWorld, reflecting their appreciation of the strength of our brand, our potential to grow the company and a shared commitment to protect wildlife and the environment,” said SeaWorld Chief Executive Joel Manby. The stock, which was still inactive in premarket trade, has slumped 8.6% year to date, while the S&P 500 has gained 4.8%. Mar. 24, 2017 at 7:01 a.m. ET by Tomi Kilgore Zhonghong’s purchase of SeaWorld shares at $23 each represents 33% premium to Thursday’s close Zhonghong’s purchase of SeaWorld shares at $23 each represents 33% premium to Thursday’s close Mar. 24, 2017 at 6:50 a.m. ET by Tomi Kilgore Blackstone will no longer hold a stake in SeaWorld or have board seats after Zhonghong deal completed Blackstone will no longer hold a stake in SeaWorld or have board seats after Zhonghong deal completed Mar. 24, 2017 at 6:49 a.m. ET by Tomi Kilgore SeaWorld to expand board to add 2 Zhonghong executives SeaWorld to expand board to add 2 Zhonghong executives Mar. 24, 2017 at 6:48 a.m. ET by Tomi Kilgore SeaWorld to sell 21% equity stake from Blackstone to Zhonhong Zhuoye at $23 a share SeaWorld to sell 21% equity stake from Blackstone to Zhonhong Zhuoye at $23 a share Mar. 24, 2017 at 6:47 a.m. ET by Tomi Kilgore Mar. 16, 2017 at 12:30 p.m. ET by Caitlin Huston Feb. 28, 2017 at 9:52 a.m. ET by Barbara Kollmeyer SeaWorld attendance declines, loss widens SeaWorld Entertainment Inc. reported a bigger loss in the latest quarter, hurt by higher expenses as fewer people visited its venues. Attendance has taken a dive at the amusement park as SeaWorld faced intense public scrutiny over its killer whale program. Last year, the company said it would stop breeding killer whales in a bid to reshape its image, but that has yet to have an impact on ticket sales. Feb. 28, 2017 at 9:51 a.m. ET by MarketWatch.com SeaWorld posts bigger-than-expected quarter loss as revenue falls short SeaWorld Entertainment Inc. said Tuesday it had a net loss of $11.9 million, or 14 cents a share, in the fourth quarter, after a loss of $11.0 million, or 13 cents a share, in the year-earlier period. The operator of 12 theme parks said revenue edged down to $267.6 million from $267.9 million a year ago. The FactSet consensus was for a loss of 10 cents a share and revenue of $269 million. Total attendance fell by about 30,000 guests, or 0.7%, due to the impact of Hurricane Matthew in October and an expected decline in Latin America. That was mostly offset by improved attendance at the company’s Texas and California locations. The company said it expects to generate $40 million in savings from a program initiated in the quarter. Shares were not yet active in premarket trade, but have gained 5.6% in the last 12 months, while the S&P 500 has gained about 22%. Feb. 28, 2017 at 6:53 a.m. ET by Ciara Linnane SeaWorld Q4 sees cost savings of $40 mln by end 2018 SeaWorld Q4 sees cost savings of $40 mln by end 2018 Feb. 28, 2017 at 6:48 a.m. ET by Ciara Linnane SeaWorld Q4 total attendance down 0.8% SeaWorld Q4 total attendance down 0.8% Feb. 28, 2017 at 6:48 a.m. ET by Ciara Linnane SeaWorld Q4 FactSet loss per share consensus 10 cents; revenue consensus $269 mln SeaWorld Q4 FactSet loss per share consensus 10 cents; revenue consensus $269 mln Feb. 28, 2017 at 6:47 a.m. ET by Ciara Linnane SeaWorld Q4 revenues $267.6 mln vs. $267.9 mln SeaWorld Q4 revenues $267.6 mln vs. $267.9 mln Feb. 28, 2017 at 6:47 a.m. ET by Ciara Linnane SeaWorld Q4 loss 14 cents vs. loss 13 cents SeaWorld Q4 loss 14 cents vs. loss 13 cents Feb. 28, 2017 at 6:46 a.m. ET by Ciara Linnane SeaWorld now sees 2016 revenue of $1.344 bln, mulls debt refinancing SeaWorld Entertainment Inc. said Tuesday it expects 2016 reveneu of about $1.344 billion, just below the FactSet consensus of $1.345 billion. The theme park operator offered the preliminary guidance in connection with a potential debt refinancing and said it will report final fourth-quarter and full-year earnings on Feb. 28. The company said it expects 2016 attendance of about 22 million guests, matching the FactSet consensus. “We are also exploring a possible debt refinancing transaction in order to improve our capital structure by extending maturities and improving certain other terms of our debt,” Chief Executive Joel Manby said in a statement. Shares were not yet active premarket, but have gained 1.1% in the last 12 months, underperforming the S&P 500 , which has gained 22%. Feb. 21, 2017 at 7:09 a.m. ET by Ciara Linnane Seaworld sees 2016 total attendance about 22 mln guests Seaworld sees 2016 total attendance about 22 mln guests Feb. 21, 2017 at 7:02 a.m. ET by Ciara Linnane Seaworld now sees 2016 revenue of $1.344 bln Seaworld now sees 2016 revenue of $1.344 bln Feb. 21, 2017 at 7:02 a.m. ET by Ciara Linnane A graphic look at selected stock activity for the week ended March 24, 2017. Included are Nike, Sears, and Esperion Therapeutics. Mar. 25, 2017 at 3:12 a.m. ET on Barron’s Online Blackstone is exiting its stake in SeaWorld Entertainment, reaching a deal to sell shares it held to Chinese investment group Zhonghong Holding. Mar. 24, 2017 at 9:13 a.m. ET on The Wall Street Journal Why Investors Should Worry About Junk Weakness in junk bonds is becoming a worry for the broader market. The two biggest junk-bond exchange-traded funds — the SPDR Bloomberg Barclays High Yield Bond ETF and the iShares iBoxx $ High Yield Corporate Bond ETF — are down around 2% this month and are on track for their worst monthly performance since the end of 2015. Mar. 24, 2017 at 9:10 a.m. ET on The Wall Street Journal SeaWorld Entertainment Inc. reported a bigger loss in the latest quarter, hurt by higher expenses as fewer people visited its venues. Feb. 28, 2017 at 9:51 a.m. ET on The Wall Street Journal Jan. 6, 2017 at 12:41 p.m. ET on The Wall Street Journal Jan. 4, 2017 at 6:58 a.m. ET on The Wall Street Journal Dec. 24, 2016 at 12:05 a.m. ET on Barron’s Dec. 6, 2016 at 1:56 p.m. ET on The Wall Street Journal Nov. 8, 2016 at 1:32 p.m. ET on The Wall Street Journal Nov. 8, 2016 at 9:19 a.m. ET on The Wall Street Journal Sep. 27, 2016 at 9:02 a.m. ET on The Wall Street Journal Sep. 20, 2016 at 9:21 a.m. ET on The Wall Street Journal Sep. 20, 2016 at 7:22 a.m. ET on The Wall Street Journal Sep. 19, 2016 at 5:18 p.m. ET on The Wall Street Journal Aug. 4, 2016 at 2:36 p.m. ET on The Wall Street Journal Aug. 4, 2016 at 9:30 a.m. ET on The Wall Street Journal Aug. 3, 2016 at 4:50 p.m. ET on The Wall Street Journal May. 5, 2016 at 9:16 p.m. ET on The Wall Street Journal Apr. 15, 2016 at 8:13 a.m. ET on The Wall Street Journal Apr. 12, 2016 at 1:49 p.m. ET on The Wall Street Journal Recent News

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