Cedar Fair (NYSE:FUN) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a report published on Saturday morning. The brokerage issued a buy rating on the stock.

FUN has been the subject of a number of other reports. Oppenheimer initiated coverage on shares of Cedar Fair in a report on Thursday, February 8th. They set an outperform rating and a $49.00 price objective for the company. Truist Financial lifted their price objective on shares of Cedar Fair from $46.00 to $48.00 and gave the company a buy rating in a report on Friday, February 16th. B. Riley restated a buy rating and set a $52.00 price target (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Mizuho initiated coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They set a buy rating and a $56.00 price target on the stock. Finally, KeyCorp boosted their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a report on Friday, February 16th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $50.30.

Cedar Fair Trading Up 1.5 %

FUN opened at $39.47 on Friday. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $45.39. The company has a market cap of $2.01 billion, a P/E ratio of 16.11 and a beta of 1.41. The company has a fifty day moving average price of $41.43 and a two-hundred day moving average price of $39.32.

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

Cedar Fair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Trading of Cedar Fair

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC raised its position in shares of Cedar Fair by 67.6% in the third quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after purchasing an additional 930,021 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cedar Fair by 50.5% in the third 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 period. Aurora Investment Counsel bought a new stake in shares of Cedar Fair in the third quarter valued at approximately $2,142,000. Leith Wheeler Investment Counsel Ltd. raised its position in shares of Cedar Fair by 26.4% in the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock valued at $6,341,000 after purchasing an additional 35,818 shares during the period. Finally, Saxon Interests Inc. bought a new stake in Cedar Fair during the 4th quarter worth approximately $308,000. Institutional investors 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.