SeaWorld Entertainment Inc (NYSE:SEAS) shares are falling as the company received a downgrade from an analyst.
Citi lowered the company’s stock from a “Hold” to a “Sell” due to concerns on Wall Street that the company’s EBITDA may be too high. The firm predicts that SeaWorld’s EBITDA will come in at $339 million for the theme park operator, which is weaker than the $357 million consensus estimate.
Additionally, Citi lowered the company’s price target from a $19 to a $15. It is a disappointing reduction for SeaWorld, which has seen its stock price get close to $20 without reaching the figure since last April.
On other news, the theme park operator is giving the public of its San Diego park more access to the orcas in the area. Through the company’s “All Day Orca Play,” visitors can be part of a full day of activities with the orcas and the animal behaviorists who train and take care of these animals.
Here’s what the company wrote on the subject: “This new all-day, everyday experience will include introducing guests to each whale and their unique personalities; live chats with orca behaviorists and educators; an in-depth look at SeaWorld’s killer whale family and their behaviorists; and comprehensive insider knowledge about the park’s killer whales,” according to a company statement.
SEAS stock fell 3.7% Friday.