A number of other equities research analysts have also issued reports on FUN. B. Riley set a $60.00 target price on Cedar Fair and gave the company a buy rating in a research report on Thursday, June 13th. Zacks Investment Research raised Cedar Fair from a hold rating to a buy rating and set a $63.00 target price on the stock in a research report on Tuesday, September 10th. Wedbush reissued an outperform rating on shares of Cedar Fair in a research report on Thursday, September 5th. KeyCorp dropped their target price on Cedar Fair from $70.00 to $67.00 and set an overweight rating on the stock in a research report on Monday, August 19th. Finally, SunTrust Banks raised Cedar Fair from a hold rating to a buy rating and set a $64.00 target price on the stock in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Cedar Fair currently has an average rating of Buy and an average target price of $62.80.
Shares of Cedar Fair stock opened at $55.67 on Friday. The business’s 50 day simple moving average is $53.70 and its 200 day simple moving average is $52.22. Cedar Fair has a 52-week low of $45.58 and a 52-week high of $57.98. The firm has a market cap of $3.11 billion, a PE ratio of 18.43, a P/E/G ratio of 2.30 and a beta of 0.49. The company has a debt-to-equity ratio of 51.13, a quick ratio of 1.26 and a current ratio of 1.39.
Cedar Fair (NYSE:FUN) last announced its earnings results on Wednesday, August 7th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.25. Cedar Fair had a negative return on equity of 939.99% and a net margin of 12.03%. The business had revenue of $436.19 million for the quarter, compared to analyst estimates of $410.86 million. During the same quarter last year, the firm earned $0.34 EPS. Cedar Fair’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities research analysts predict that Cedar Fair will post 3.36 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Wednesday, September 4th were paid a $0.925 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.70 dividend on an annualized basis and a yield of 6.65%. Cedar Fair’s dividend payout ratio is 122.52%.
A number of hedge funds have recently bought and sold shares of the business. Optimum Investment Advisors grew its stake in Cedar Fair by 10.8% in the second quarter. Optimum Investment Advisors now owns 2,049 shares of the company’s stock valued at $98,000 after purchasing an additional 200 shares in the last quarter. Aurora Investment Counsel grew its stake in Cedar Fair by 0.9% in the second quarter. Aurora Investment Counsel now owns 45,639 shares of the company’s stock valued at $2,303,000 after purchasing an additional 410 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Cedar Fair by 2.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,903 shares of the company’s stock valued at $1,047,000 after purchasing an additional 505 shares in the last quarter. Creative Planning grew its stake in Cedar Fair by 9.4% in the second quarter. Creative Planning now owns 6,521 shares of the company’s stock valued at $311,000 after purchasing an additional 558 shares in the last quarter. Finally, Personal Wealth Partners bought a new position in Cedar Fair in the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.
About Cedar Fair
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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