Cedar Fair, L.P. (FUN) to Issue Quarterly Dividend of $0.30 on June 19th

Cedar Fair, L.P. (NYSE:FUNGet Free Report) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Wednesday, June 5th will be paid a dividend of 0.30 per share on Wednesday, June 19th. This represents a $1.20 annualized dividend and a yield of 2.76%. The ex-dividend date is Wednesday, June 5th.

Cedar Fair has raised its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Cedar Fair has a payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cedar Fair to earn $4.01 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 29.9%.

Cedar Fair Stock Performance

FUN opened at $43.43 on Monday. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 17.87 and a beta of 1.45. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $45.76. The company has a fifty day moving average of $41.18 and a 200 day moving average of $40.46.

Cedar Fair (NYSE:FUNGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The firm had revenue of $101.62 million for the quarter, compared to analysts’ expectations of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. On average, equities research analysts forecast that Cedar Fair will post 3.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on FUN shares. KeyCorp boosted their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. StockNews.com started coverage on shares of Cedar Fair in a research report on Friday. They set a “buy” rating on the stock. Stifel Nicolaus lifted their price target on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Oppenheimer initiated coverage on Cedar Fair in a research report on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective on the stock. Finally, B. Riley reiterated a “buy” rating and issued a $52.00 target price (up previously from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $50.40.

Check Out Our Latest Stock Analysis on Cedar Fair

About Cedar Fair

(Get Free Report)

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.

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Dividend History for Cedar Fair (NYSE:FUN)

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