Cedar Fair, L.P. (FUN) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Cedar Fair, L.P. (NYSE:FUN) have earned an average rating of “Buy” from the ten analysts that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $73.71.
FUN has been the subject of several recent research reports. Zacks Investment Research raised shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Wednesday, July 12th. Stifel Nicolaus reissued a “buy” rating and issued a $78.00 price target on shares of Cedar Fair, L.P. in a research report on Friday, July 7th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $81.00 price target on shares of Cedar Fair, L.P. in a research report on Tuesday, July 4th. FBR & Co reissued a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Finally, BidaskClub cut shares of Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th.
Cedar Fair, L.P. (NYSE FUN) traded up 0.69% during mid-day trading on Friday, reaching $64.24. The company’s stock had a trading volume of 58,288 shares. Cedar Fair, L.P. has a 52 week low of $56.23 and a 52 week high of $72.56. The company’s 50-day moving average price is $66.00 and its 200 day moving average price is $68.86. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 26.95 and a beta of 0.50.
Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.02 by ($0.20). Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The business had revenue of $392.80 million during the quarter, compared to analysts’ expectations of $405.78 million. During the same period in the prior year, the business earned $1.03 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that Cedar Fair, L.P. will post $2.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, September 6th were given a $0.855 dividend. The ex-dividend date was Friday, September 1st. This represents a $3.42 dividend on an annualized basis and a yield of 5.32%. Cedar Fair, L.P.’s dividend payout ratio (DPR) is presently 144.30%.
In other Cedar Fair, L.P. news, Director Thomas Klein acquired 7,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $66.13 per share, for a total transaction of $462,910.00. Following the completion of the purchase, the director now owns 24,960 shares in the company, valued at approximately $1,650,604.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew A. Ouimet sold 9,100 shares of Cedar Fair, L.P. stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $68.89, for a total transaction of $626,899.00. Following the completion of the transaction, the chief executive officer now owns 200,799 shares in the company, valued at $13,833,043.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,100 shares of company stock valued at $957,099. 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 the business. Alps Advisors Inc. increased its stake in Cedar Fair, L.P. by 0.3% in the second quarter. Alps Advisors Inc. now owns 7,065 shares of the company’s stock valued at $509,000 after purchasing an additional 19 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Cedar Fair, L.P. by 0.7% during the second quarter. Capital Advisors Ltd. LLC now owns 3,084 shares of the company’s stock worth $222,000 after acquiring an additional 21 shares during the period. MAI Capital Management increased its stake in shares of Cedar Fair, L.P. by 0.5% during the second quarter. MAI Capital Management now owns 4,670 shares of the company’s stock worth $337,000 after acquiring an additional 23 shares during the period. Dynamic Advisors Solutions LLC increased its stake in shares of Cedar Fair, L.P. by 1.2% during the second quarter. Dynamic Advisors Solutions LLC now owns 3,500 shares of the company’s stock worth $252,000 after acquiring an additional 42 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Cedar Fair, L.P. by 0.5% during the second quarter. Private Trust Co. NA now owns 10,048 shares of the company’s stock worth $724,000 after acquiring an additional 50 shares during the period. Institutional investors own 51.46% of the company’s stock.
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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.
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