Cedar Fair, L.P. (NYSE:FUN) Receives Consensus Rating of “Buy” from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been assigned an average recommendation of “Buy” from the ten analysts that are currently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have covered the stock in the last year is $50.30.

A number of research firms recently issued reports on FUN. Mizuho started coverage on Cedar Fair in a research note on Tuesday, March 26th. They set a “buy” rating and a $56.00 target price for the company. Oppenheimer began coverage on Cedar Fair in a report on Thursday, February 8th. They set an “outperform” rating and a $49.00 target price for the company. Stifel Nicolaus lifted their price target on Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Truist Financial upped their price objective on Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, KeyCorp lifted their target price on Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, February 16th.

Institutional Investors Weigh In On Cedar Fair

Several large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its position in Cedar Fair by 15.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after acquiring an additional 539,352 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. UBS Group AG grew its holdings in Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after purchasing an additional 2,310,565 shares during the period. Barclays PLC increased its position in Cedar Fair by 67.6% during the third quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after buying an additional 930,021 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Cedar Fair in the third quarter valued at approximately $25,215,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Stock Up 0.6 %

Shares of FUN stock opened at $38.63 on Friday. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $45.39. The firm has a fifty day moving average of $41.09 and a 200-day moving average of $39.38. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 15.77 and a beta of 1.41.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. Research analysts expect that Cedar Fair will post 3.27 earnings per share for the current year.

Cedar Fair Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is 48.98%.

About Cedar Fair

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.