Cedar Fair (NYSE:FUN) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a research report released on Tuesday morning. The firm issued a buy rating on the stock.

A number of other research analysts have also weighed in on FUN. Mizuho started coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They issued a buy rating and a $56.00 target price for the company. KeyCorp boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a report on Friday, February 16th. Oppenheimer initiated coverage on shares of Cedar Fair in a report on Thursday, February 8th. They issued an outperform rating and a $49.00 price target for the company. Stifel Nicolaus boosted their price objective on Cedar Fair from $49.00 to $52.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, B. Riley restated a buy rating and set a $52.00 price objective (up from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $50.00.

Cedar Fair Price Performance

Shares of FUN stock opened at $40.35 on Tuesday. The company’s fifty day simple moving average is $40.70 and its two-hundred day simple moving average is $39.60. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $45.39. The stock has a market cap of $2.07 billion, a P/E ratio of 16.47 and a beta of 1.42.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $371.12 million for the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. On average, analysts anticipate that Cedar Fair will post 3.23 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is currently 48.98%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in Cedar Fair by 15.5% in the 4th 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. grew its stake in Cedar Fair by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares in the last quarter. UBS Group AG increased its holdings in Cedar Fair by 313.7% during the 4th 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 raised its position in Cedar Fair by 67.6% during the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after purchasing an additional 930,021 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in Cedar Fair during the 3rd quarter valued at $25,215,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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.