B. Riley Weighs in on Cedar Fair, L.P.’s Q4 2022 Earnings (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN – Get Rating) – Research analysts at B. Riley boosted their Q4 2022 EPS estimates for Cedar Fair in a note issued to investors on Thursday, May 5th. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of ($0.06) for the quarter, up from their previous forecast of ($0.07). B. Riley also issued estimates for Cedar Fair’s Q1 2023 earnings at ($1.70) EPS.

Cedar Fair (NYSE:FUN – Get Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($1.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.96) by $0.40. The business had revenue of $99.00 million during the quarter, compared to analyst estimates of $76.28 million. During the same quarter last year, the business posted ($1.95) earnings per share. The business’s quarterly revenue was up 920.6% compared to the same quarter last year.

Several other research firms have also recently issued reports on FUN. Rosenblatt Securities assumed coverage on Cedar Fair in a report on Monday, April 25th. They issued a “neutral” rating and a $56.00 price target on the stock. Truist Financial raised their price target on Cedar Fair from $56.00 to $67.00 in a report on Thursday, February 17th. Citigroup decreased their price target on Cedar Fair from $73.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, April 19th. KeyCorp raised their price target on Cedar Fair from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, February 17th. Finally, Credit Suisse Group raised their target price on Cedar Fair from $78.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, February 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $68.33.

Cedar Fair stock opened at $51.67 on Monday. The business’s 50-day simple moving average is $54.20 and its 200 day simple moving average is $51.74. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -107.64 and a beta of 1.85. Cedar Fair has a 12-month low of $39.15 and a 12-month high of $62.56.

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Cedar Fair by 15.9% during the 3rd quarter. Goldman Sachs Group Inc. now owns 5,169,992 shares of the company’s stock valued at $239,784,000 after purchasing an additional 708,027 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Cedar Fair by 11.0% during the 4th quarter. Bank of America Corp DE now owns 2,975,238 shares of the company’s stock valued at $148,940,000 after purchasing an additional 295,613 shares in the last quarter. Waratah Capital Advisors Ltd. lifted its holdings in shares of Cedar Fair by 234.1% during the 4th quarter. Waratah Capital Advisors Ltd. now owns 1,678,829 shares of the company’s stock valued at $84,042,000 after purchasing an additional 1,176,362 shares in the last quarter. Natixis raised its position in Cedar Fair by 28.7% in the 3rd quarter. Natixis now owns 1,081,500 shares of the company’s stock valued at $50,160,000 after buying an additional 241,000 shares during the last quarter. Finally, Barclays PLC raised its position in Cedar Fair by 101.5% in the 3rd quarter. Barclays PLC now owns 1,061,094 shares of the company’s stock valued at $49,214,000 after buying an additional 534,467 shares during the last quarter. Institutional investors and hedge funds own 62.78% of the company’s stock.

Cedar Fair Company Profile (Get Rating)

Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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.

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