Q1 2024 EPS Estimates for Cedar Fair, L.P. Decreased by Analyst (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN) – Investment analysts at B. Riley reduced their Q1 2024 EPS estimates for shares of Cedar Fair in a research report issued to clients and investors on Thursday, April 18th. B. Riley analyst E. Wold now anticipates that the company will post earnings of ($2.43) per share for the quarter, down from their prior forecast of ($2.30). B. Riley currently has a “Buy” rating and a $52.00 target price on the stock. The consensus estimate for Cedar Fair’s current full-year earnings is $3.27 per share. B. Riley also issued estimates for Cedar Fair’s Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $4.08 EPS, Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at ($2.18) EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $4.33 EPS and Q4 2025 earnings at $0.25 EPS.

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

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

Cedar Fair Trading Down 1.0 %

Shares of NYSE FUN opened at $38.08 on Monday. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.39. The company has a 50 day simple moving average of $41.24 and a two-hundred day simple moving average of $39.36. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of 15.54 and a beta of 1.41.

Institutional Investors Weigh In On Cedar Fair

A number of hedge funds have recently modified their holdings of the company. Money Concepts Capital Corp acquired a new position in Cedar Fair in the fourth quarter valued at about $26,000. Tower Research Capital LLC TRC lifted its position in Cedar Fair by 201.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after buying an additional 562 shares during the last quarter. PenderFund Capital Management Ltd. acquired a new stake in shares of Cedar Fair during the first quarter worth about $41,000. Ancora Advisors LLC lifted its position in shares of Cedar Fair by 34.6% during the first 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, Sound Income Strategies LLC lifted its position in shares of Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after purchasing an additional 852 shares in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Cedar Fair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is currently 48.98%.

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.