Cedar Fair, L.P. (NYSE:FUN) – Research analysts at Wedbush boosted their Q4 2017 earnings estimates for Cedar Fair, L.P. in a note issued to investors on Thursday. Wedbush analyst J. Hardiman now forecasts that the company will post earnings of $0.20 per share for the quarter, up from their prior estimate of $0.03. Wedbush also issued estimates for Cedar Fair, L.P.’s FY2018 earnings at $3.54 EPS.

Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by $0.20. The company had revenue of $392.80 million for the quarter, compared to the consensus estimate of $405.78 million. Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. TRADEMARK VIOLATION NOTICE: This story was published by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this story can be accessed at https://www.dailypolitical.com/2017/08/08/q4-2017-earnings-forecast-for-cedar-fair-l-p-issued-by-wedbush-nysefun.html.

FUN has been the subject of several other reports. Goldman Sachs Group, Inc. (The) raised Cedar Fair, L.P. from a “buy” rating to a “conviction-buy” rating and set a $81.00 target price for the company in a research note on Monday, June 19th. Zacks Investment Research downgraded Cedar Fair, L.P. from a “hold” rating to a “strong sell” rating in a research note on Monday. SunTrust Banks, Inc. assumed coverage on Cedar Fair, L.P. in a research note on Wednesday, April 12th. They set a “hold” rating and a $72.00 target price for the company. Stifel Nicolaus assumed coverage on Cedar Fair, L.P. in a research note on Thursday, April 20th. They set a “buy” rating and a $78.00 target price for the company. Finally, BidaskClub downgraded Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $74.75.

Cedar Fair, L.P. (FUN) traded down 0.2440% during midday trading on Monday, hitting $66.0584. 21,016 shares of the stock traded hands. The company’s 50 day moving average price is $70.48 and its 200 day moving average price is $68.63. Cedar Fair, L.P. has a 12 month low of $56.23 and a 12 month high of $72.56. The firm has a market cap of $3.71 billion, a PE ratio of 27.7091 and a beta of 0.50.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, September 6th will be paid a $0.855 dividend. This represents a $3.42 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Friday, September 1st. Cedar Fair, L.P.’s dividend payout ratio is currently 144.30%.

In related news, CEO Matthew A. Ouimet sold 9,100 shares of the stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $68.89, for a total value of $626,899.00. Following the completion of the transaction, the chief executive officer now directly owns 200,799 shares of the company’s stock, valued at approximately $13,833,043.11. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew A. Ouimet sold 12,000 shares of the stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $71.20, for a total value of $854,400.00. Following the completion of the transaction, the chief executive officer now directly owns 207,299 shares of the company’s stock, valued at $14,759,688.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,100 shares of company stock valued at $2,533,549. 2.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FUN. Advisory Services Network LLC bought a new stake in shares of Cedar Fair, L.P. during the first quarter valued at about $102,000. Solaris Asset Management LLC boosted its stake in shares of Cedar Fair, L.P. by 8.4% in the second quarter. Solaris Asset Management LLC now owns 1,545 shares of the company’s stock valued at $111,000 after buying an additional 120 shares during the last quarter. Peddock Capital Advisors LLC bought a new stake in shares of Cedar Fair, L.P. during the second quarter valued at about $144,000. Dubuque Bank & Trust Co. bought a new stake in shares of Cedar Fair, L.P. during the first quarter valued at about $188,000. Finally, Anchor Capital Advisors LLC bought a new stake in shares of Cedar Fair, L.P. during the first quarter valued at about $203,000. 51.77% of the stock is owned by hedge funds and other institutional investors.

Cedar Fair, L.P. Company Profile

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.

Earnings History and Estimates for Cedar Fair, L.P. (NYSE:FUN)

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