Zacks cut shares of Cedar Fair, L.P. (NYSE:FUN) from an outperform rating to a neutral rating in a research note issued to investors on Monday, AnalystRatings.Net reports. The firm currently has $50.70 price target on the stock.
Zacks has also taken action a number of other services stocks recently. The firm downgraded shares of Manitex International from an outperform rating to a neutral rating. Their analysts now have a $15.40 price target on that stock. Also, Zacks downgraded shares of Kulicke & Soffa from a neutral rating to an underperform rating. Their analysts now have a $11.40 price target on that stock. Finally, Zacks reiterated its outperform rating on shares of Tower Semiconductor Ltd. They have a $10.00 price target on that stock.
A number of other firms have also recently commented on FUN. Analysts at Hilliard Lyons downgraded shares of Cedar Fair, L.P. from a buy rating to a neutral rating in a research note to investors on Friday. Analysts at TheStreet upgraded shares of Cedar Fair, L.P. from a hold rating to a buy rating in a research note to investors on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $50.70.
Cedar Fair, L.P. (NYSE:FUN) traded up 0.45% on Monday, hitting $46.899. 20,148 shares of the company’s stock traded hands. Cedar Fair, L.P. has a one year low of $30.90 and a one year high of $47.48. The stock has a 50-day moving average of $44.36 and a 200-day moving average of $42.90. The company has a market cap of $2.608 billion and a P/E ratio of 22.03.
Cedar Fair, L.P. (NYSE:FUN) last announced its earnings results on Thursday, November 7th. The company reported $3.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.87 by $0.54. The company had revenue of $592.10 million for the quarter, compared to the consensus estimate of $581.69 million. During the same quarter in the previous year, the company posted $2.53 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that Cedar Fair, L.P. will post $2.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, December 16th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Cedar Fair, L.P.’s previous quarterly dividend of $0.63.
Cedar Fair, L.P. is a limited partnership managed by Cedar Fair Management, Inc (NYSE:FUN).
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