Analysts Offer Predictions for Cedar Fair, L.P.’s FY2024 Earnings (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN) – Research analysts at B. Riley cut their FY2024 earnings per share estimates for Cedar Fair in a research note issued on Thursday, April 18th. B. Riley analyst E. Wold now anticipates that the company will post earnings per share of $2.74 for the year, down from their previous estimate of $2.81. B. Riley has a “Buy” rating and a $52.00 price objective on the stock. The consensus estimate for Cedar Fair’s current full-year earnings is $3.28 per share. B. Riley also issued estimates for Cedar Fair’s FY2025 earnings at $3.71 EPS.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%.

FUN has been the subject of several other reports. Truist Financial boosted their price objective on Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Oppenheimer began coverage on Cedar Fair in a research note on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price objective for the company. KeyCorp lifted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. StockNews.com initiated coverage on shares of Cedar Fair in a research report on Saturday, April 13th. They issued a “buy” rating for the company. Finally, Mizuho initiated coverage on shares of Cedar Fair in a research report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price target on the stock. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $50.30.

Cedar Fair Stock Down 0.7 %

FUN stock opened at $38.19 on Friday. The stock has a market capitalization of $1.95 billion, a P/E ratio of 15.59 and a beta of 1.41. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $45.39. The firm has a 50-day simple moving average of $41.24 and a 200-day simple moving average of $39.32.

Institutional Investors Weigh In On Cedar Fair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Cedar Fair by 67.6% during the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after purchasing an additional 930,021 shares during the period. JPMorgan Chase & Co. lifted its position in Cedar Fair by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after buying an additional 1,130,439 shares during the last quarter. Aurora Investment Counsel purchased a new position in Cedar Fair during the third quarter worth about $2,142,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Cedar Fair during the fourth quarter valued at about $463,000. Finally, Leith Wheeler Investment Counsel Ltd. raised its stake in shares of Cedar Fair by 26.4% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock valued at $6,341,000 after acquiring an additional 35,818 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a $0.30 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.20 annualized dividend and a yield of 3.14%. Cedar Fair’s payout ratio is 48.98%.

Cedar Fair Company Profile

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.