A number of other brokerages also recently weighed in on FUN. B. Riley reduced their target price on Cedar Fair from $61.00 to $60.00 and set a buy rating on the stock in a report on Thursday, March 28th. TheStreet downgraded Cedar Fair from a b- rating to a c rating in a report on Monday, March 18th. Macquarie raised Cedar Fair from a neutral rating to an outperform rating in a report on Friday, February 15th. Finally, Zacks Investment Research raised Cedar Fair from a sell rating to a hold rating in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $60.83.
Shares of FUN stock opened at $49.25 on Wednesday. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 2.11 and a beta of 0.59. Cedar Fair has a fifty-two week low of $45.73 and a fifty-two week high of $67.15. The company has a debt-to-equity ratio of 51.13, a quick ratio of 0.49 and a current ratio of 0.63.
Cedar Fair (NYSE:FUN) last issued its earnings results on Wednesday, May 8th. The company reported ($1.46) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.47) by $0.01. The firm had revenue of $67.00 million for the quarter, compared to the consensus estimate of $55.14 million. Cedar Fair had a negative return on equity of 1,151.68% and a net margin of 9.29%. The company’s revenue was up 22.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.49) EPS. On average, analysts forecast that Cedar Fair will post 3.3 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.925 per share. This represents a $3.70 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend is Monday, June 3rd. Cedar Fair’s dividend payout ratio (DPR) is 122.52%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. Creative Planning boosted its holdings in shares of Cedar Fair by 22.1% during the 4th quarter. Creative Planning now owns 6,868 shares of the company’s stock valued at $325,000 after acquiring an additional 1,241 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Cedar Fair by 131.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,139 shares of the company’s stock valued at $527,000 after acquiring an additional 6,335 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Cedar Fair by 3.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 24,333 shares of the company’s stock valued at $1,151,000 after acquiring an additional 890 shares in the last quarter. Schulhoff & Co. Inc. boosted its holdings in shares of Cedar Fair by 1.3% during the 4th quarter. Schulhoff & Co. Inc. now owns 31,110 shares of the company’s stock valued at $1,471,000 after acquiring an additional 400 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Cedar Fair during the 4th quarter valued at $365,000. 51.67% of the stock is currently owned by institutional investors.
Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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