Cedar Fair (NYSE:FUN) had its price target lowered by KeyCorp from $70.00 to $67.00 in a report issued on Monday, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the stock. KeyCorp also issued estimates for Cedar Fair’s Q4 2019 earnings at $0.16 EPS and FY2019 earnings at $3.40 EPS.
A number of other analysts have also weighed in on the stock. B. Riley set a $60.00 price objective on shares of Cedar Fair and gave the company a buy rating in a research note on Thursday, June 13th. Zacks Investment Research upgraded shares of Cedar Fair from a sell rating to a hold rating in a research note on Thursday, July 25th. Finally, ValuEngine upgraded shares of Cedar Fair from a sell rating to a hold rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $61.60.
Shares of Cedar Fair stock opened at $54.65 on Monday. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.31 and a beta of 0.51. The company has a debt-to-equity ratio of 51.13, a current ratio of 1.39 and a quick ratio of 1.26. Cedar Fair has a 1 year low of $45.58 and a 1 year high of $56.58. The company has a 50-day moving average of $50.84 and a 200 day moving average of $51.87.
Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 7th. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.25. The business had revenue of $436.19 million during the quarter, compared to analyst estimates of $410.86 million. Cedar Fair had a net margin of 12.03% and a negative return on equity of 939.99%. Cedar Fair’s revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. On average, equities analysts anticipate that Cedar Fair will post 3.35 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.925 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $3.70 dividend on an annualized basis and a yield of 6.77%. Cedar Fair’s dividend payout ratio is currently 122.52%.
A number of large investors have recently added to or reduced their stakes in FUN. Royal Bank of Canada increased its position in Cedar Fair by 3.6% during the second quarter. Royal Bank of Canada now owns 926,067 shares of the company’s stock valued at $44,165,000 after acquiring an additional 32,388 shares during the last quarter. UBS Group AG increased its position in Cedar Fair by 12.2% during the second quarter. UBS Group AG now owns 243,972 shares of the company’s stock valued at $11,635,000 after acquiring an additional 26,497 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in Cedar Fair by 10.4% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 751,561 shares of the company’s stock valued at $35,842,000 after acquiring an additional 70,597 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Cedar Fair by 55.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 45,519 shares of the company’s stock valued at $2,171,000 after acquiring an additional 16,213 shares during the last quarter. Finally, Doyle Wealth Management bought a new position in Cedar Fair during the second quarter valued at $32,000. Institutional investors and hedge funds own 49.89% of the company’s stock.
About Cedar Fair
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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