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

Cedar Fair, L.P. (NYSE:FUN) has been given an average rating of “Buy” by the ten ratings firms that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $50.30.

FUN has been the topic of a number of research reports. Mizuho initiated coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They set a “buy” rating and a $56.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, February 16th. B. Riley reissued a “buy” rating and set a $52.00 target price (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Truist Financial boosted their target price on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Oppenheimer initiated coverage on shares of Cedar Fair in a report on Thursday, February 8th. They set an “outperform” rating and a $49.00 target price on the stock.

Cedar Fair Trading Down 0.2 %

Shares of Cedar Fair stock opened at $38.55 on Friday. The firm has a market capitalization of $1.97 billion, a PE ratio of 15.73 and a beta of 1.41. The firm’s 50 day moving average is $41.31 and its 200 day moving average is $39.31. Cedar Fair has a 1 year low of $34.04 and a 1 year high of $45.39.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company 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%. As a group, research analysts anticipate that Cedar Fair will post 3.28 earnings per share for the current year.

Cedar Fair Announces Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. Cedar Fair’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Trading of Cedar Fair

Institutional investors have recently bought and sold shares of the company. PenderFund Capital Management Ltd. bought a new position in shares of Cedar Fair during the 1st quarter worth about $41,000. Money Concepts Capital Corp bought a new position in shares of Cedar Fair during the 4th quarter worth about $26,000. Tower Research Capital LLC TRC boosted its position in shares of Cedar Fair by 355.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $38,000 after purchasing an additional 636 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Cedar Fair by 34.6% during the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after purchasing an additional 550 shares in the last quarter. Finally, BNP Paribas Arbitrage SNC boosted its position in shares of Cedar Fair by 33.9% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,685 shares of the company’s stock worth $110,000 after purchasing an additional 680 shares in the last quarter. 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.