Brokerages Expect Cedar Fair, L.P. (NYSE:FUN) Will Post Earnings of -$0.34 Per Share

Wall Street brokerages expect Cedar Fair, L.P. (NYSE:FUN) to announce earnings per share of ($0.34) for the current quarter, according to Zacks. Six analysts have made estimates for Cedar Fair’s earnings. The highest EPS estimate is $0.00 and the lowest is ($0.49). Cedar Fair reported earnings per share of ($1.88) during the same quarter last year, which would suggest a positive year over year growth rate of 81.9%. The business is expected to issue its next quarterly earnings results on Friday, February 18th.

On average, analysts expect that Cedar Fair will report full-year earnings of ($0.72) per share for the current financial year, with EPS estimates ranging from ($0.86) to ($0.37). For the next year, analysts expect that the business will report earnings of $2.89 per share, with EPS estimates ranging from $2.58 to $3.76. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Cedar Fair.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Wednesday, November 3rd. The company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.41. The company had revenue of $753.40 million during the quarter, compared to the consensus estimate of $663.44 million. The firm’s quarterly revenue was up 761.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($2.12) earnings per share.

A number of analysts have weighed in on the company. KeyCorp increased their target price on Cedar Fair from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, November 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Cedar Fair in a research note on Wednesday, November 17th. They issued a “buy” rating and a $66.00 target price on the stock. Credit Suisse Group increased their target price on Cedar Fair from $69.00 to $74.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. B. Riley reduced their target price on Cedar Fair from $75.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, November 4th. Finally, Zacks Investment Research lowered Cedar Fair from a “buy” rating to a “hold” rating in a research note on Friday, November 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $60.75.

Several institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in shares of Cedar Fair by 5.5% during the third quarter. Cetera Investment Advisers now owns 6,189 shares of the company’s stock valued at $287,000 after buying an additional 324 shares during the period. WealthShield Partners LLC increased its stake in shares of Cedar Fair by 188.0% during the second quarter. WealthShield Partners LLC now owns 576 shares of the company’s stock valued at $26,000 after buying an additional 376 shares during the period. Wedbush Securities Inc. increased its stake in shares of Cedar Fair by 3.6% during the second quarter. Wedbush Securities Inc. now owns 11,275 shares of the company’s stock valued at $505,000 after buying an additional 397 shares during the period. Keybank National Association OH boosted its position in Cedar Fair by 0.5% during the third quarter. Keybank National Association OH now owns 98,439 shares of the company’s stock valued at $4,566,000 after purchasing an additional 458 shares in the last quarter. Finally, Stratos Wealth Advisors LLC boosted its position in Cedar Fair by 11.6% during the third quarter. Stratos Wealth Advisors LLC now owns 5,274 shares of the company’s stock valued at $245,000 after purchasing an additional 550 shares in the last quarter. Hedge funds and other institutional investors own 57.09% of the company’s stock.

FUN traded up $0.57 during trading on Thursday, reaching $49.56. The company had a trading volume of 236,187 shares, compared to its average volume of 419,574. The stock has a market cap of $2.82 billion, a P/E ratio of -21.93 and a beta of 2.16. The business has a 50 day simple moving average of $46.75 and a 200-day simple moving average of $45.44. Cedar Fair has a 52 week low of $36.74 and a 52 week high of $52.50.

Cedar Fair Company Profile

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.

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Earnings History and Estimates for Cedar Fair (NYSE:FUN)

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