Cedar Fair, L.P. (NYSE:FUN) Given Average Rating of “Buy” by Analysts

Shares of Cedar Fair, L.P. (NYSE:FUNGet Free Report) have been given a consensus rating of “Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $50.40.

A number of research firms have recently issued reports on FUN. Stifel Nicolaus increased their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. KeyCorp boosted their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, February 16th. B. Riley reiterated a “buy” rating and set a $52.00 price objective (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Truist Financial lifted their price objective on Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Finally, Mizuho dropped their target price on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th.

Check Out Our Latest Report on Cedar Fair

Cedar Fair Price Performance

NYSE FUN opened at $43.66 on Friday. The company has a market capitalization of $2.24 billion, a P/E ratio of 17.97 and a beta of 1.45. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.76. The company’s 50 day simple moving average is $41.30 and its 200 day simple moving average is $40.56.

Cedar Fair (NYSE:FUNGet Free Report) last released its quarterly earnings results 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). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The company had revenue of $101.62 million during the quarter, compared to analyst estimates of $91.97 million. On average, analysts anticipate that Cedar Fair will post 3.47 earnings per share for the current year.

Cedar Fair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, June 5th. Cedar Fair’s dividend payout ratio is 49.38%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. UBS Group AG increased its holdings in Cedar Fair by 313.7% in the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after purchasing an additional 2,310,565 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after acquiring an additional 1,130,439 shares during the period. Aurora Investment Counsel bought a new position in Cedar Fair during the 3rd quarter worth approximately $2,142,000. Sequoia Financial Advisors LLC acquired a new position in Cedar Fair during the fourth quarter valued at approximately $463,000. Finally, Jump Financial LLC bought a new stake in Cedar Fair in the fourth quarter valued at approximately $617,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Cedar Fair Company Profile

(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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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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