$643.15 Million in Sales Expected for Cedar Fair, L.P. (NYSE:FUN) This Quarter

Wall Street brokerages predict that Cedar Fair, L.P. (NYSE:FUN) will post $643.15 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Cedar Fair’s earnings. The lowest sales estimate is $559.20 million and the highest is $734.00 million. Cedar Fair posted sales of $87.46 million in the same quarter last year, which would indicate a positive year over year growth rate of 635.4%. The company is scheduled to issue its next quarterly earnings report on Wednesday, November 3rd.

According to Zacks, analysts expect that Cedar Fair will report full-year sales of $1.15 billion for the current financial year, with estimates ranging from $1.03 billion to $1.25 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.60 billion, with estimates ranging from $1.55 billion to $1.66 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Cedar Fair.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 4th. The company reported ($1.04) EPS for the quarter, topping analysts’ consensus estimates of ($1.45) by $0.41. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $211.79 million. During the same quarter last year, the business earned ($2.35) earnings per share. The business’s revenue for the quarter was up 3597.0% compared to the same quarter last year.

A number of research firms have commented on FUN. 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 report on Thursday, August 5th. Zacks Investment Research raised Cedar Fair from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, August 4th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $57.13.

A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its stake in Cedar Fair by 7.3% during the 1st quarter. Morgan Stanley now owns 5,022,424 shares of the company’s stock valued at $249,514,000 after acquiring an additional 341,965 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Cedar Fair by 12.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,845,327 shares of the company’s stock valued at $240,716,000 after acquiring an additional 537,024 shares in the last quarter. Bank of America Corp DE increased its position in shares of Cedar Fair by 142.7% during the 2nd quarter. Bank of America Corp DE now owns 2,596,931 shares of the company’s stock valued at $116,421,000 after purchasing an additional 1,526,914 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Cedar Fair by 23.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,385,690 shares of the company’s stock valued at $106,950,000 after purchasing an additional 449,429 shares during the period. Finally, ING Groep NV increased its position in shares of Cedar Fair by 40.9% during the 1st quarter. ING Groep NV now owns 1,782,000 shares of the company’s stock valued at $88,530,000 after purchasing an additional 517,000 shares during the period. 57.90% of the stock is currently owned by hedge funds and other institutional investors.

NYSE FUN traded down $0.12 during mid-day trading on Friday, reaching $43.88. 646 shares of the company’s stock traded hands, compared to its average volume of 449,098. Cedar Fair has a 1-year low of $24.48 and a 1-year high of $52.50. The company has a fifty day simple moving average of $43.72 and a 200-day simple moving average of $46.40. The company has a market cap of $2.49 billion, a price-to-earnings ratio of -6.05 and a beta of 2.30.

About Cedar Fair

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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