Mizuho Begins Coverage on Cedar Fair (NYSE:FUN)

Mizuho initiated coverage on shares of Cedar Fair (NYSE:FUN) in a report published on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $56.00 target price on the stock.

FUN has been the topic of a number of other reports. Stifel Nicolaus raised their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a buy rating in a research note on Friday, February 16th. KeyCorp raised their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Morgan Stanley raised their price target on shares of Cedar Fair from $50.00 to $55.00 and gave the stock an overweight rating in a report on Thursday, December 14th. Oppenheimer assumed coverage on shares of Cedar Fair in a report on Thursday, February 8th. They set an outperform rating and a $49.00 price target for the company. Finally, Truist Financial raised their price target on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a report on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $50.30.

Cedar Fair Trading Up 1.0 %

Shares of Cedar Fair stock opened at $41.90 on Tuesday. The firm has a market capitalization of $2.14 billion, a PE ratio of 17.10 and a beta of 1.41. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $45.93. The firm’s 50-day moving average price is $41.31 and its 200 day moving average price is $39.18.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, February 15th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. The business had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. On average, sell-side analysts predict that Cedar Fair will post 3.28 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 annualized dividend and a yield of 2.86%. Cedar Fair’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Trading of Cedar Fair

Several institutional investors have recently added to or reduced their stakes in FUN. UBS Group AG increased its holdings in Cedar Fair by 313.7% in the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after purchasing an additional 2,310,565 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. Bank of America Corp DE boosted its position in Cedar Fair by 36.8% in the 1st quarter. Bank of America Corp DE now owns 3,516,915 shares of the company’s stock valued at $160,688,000 after buying an additional 946,782 shares during the period. Barclays PLC boosted its position in Cedar Fair by 67.6% in the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after buying an additional 930,021 shares during the period. Finally, Nomura Holdings Inc. purchased a new position in Cedar Fair in the 3rd quarter valued at approximately $25,215,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. 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, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.