The firm has an "overweight" rating on shares of the Orlando-based theme park and entertainment company.
"For SEAS, we are modestly trimming our 2016 EBITDA estimate to $348.5 million (from $350 million) on conservatism around recent events in Orlando as well as moderately below expected lease data results for its San Diego park," KeyBanc wrote in an analyst note.
The firm's analysis for weather trends in the last couple of weeks ending June 26 were slightly favorable for SeaWorld as weekend and weekday precipitation was below last year.
"As it pertains to season-to-date trends, we believe the industry is tracking modestly better than last year as average temperatures are in line with last year and precipitation is moderately lower," KeyBanc added.
There is potential for slightly more precipitation for SeaWorld, compared to more favorable condition for Cedar Fair (FUN) and Six Flags Entertainment (SIX), according to the firm.
Shares of SeaWorld are down 1.48% to $14.02 at the start of trading on Thursday.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. Among the primary strengths of the company is its revenue growth.
At the same time, the team also finds weaknesses including deteriorating net income, generally higher debt management risk and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: SEAS