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

StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a research note released on Sunday morning. The brokerage issued a buy rating on the stock.

Several other research analysts have also recently issued reports on FUN. Mizuho started coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They issued a buy rating and a $56.00 target price for the company. KeyCorp boosted their price objective 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. B. Riley reiterated a buy rating and set a $52.00 target price (up from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Truist Financial boosted their price target on Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus upped their price target on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $50.30.

Cedar Fair Stock Up 0.6 %

FUN stock opened at $38.63 on Friday. The business has a 50 day moving average of $41.09 and a 200 day moving average of $39.38. The firm has a market cap of $1.97 billion, a PE ratio of 15.77 and a beta of 1.41. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $45.39.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. On average, research analysts expect that Cedar Fair will post 3.27 earnings per share for the current fiscal year.

Cedar Fair Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC purchased a new stake in Cedar Fair during the third quarter valued at approximately $206,000. Raymond James & Associates increased its stake in shares of Cedar Fair by 1.5% in the 3rd quarter. Raymond James & Associates now owns 27,960 shares of the company’s stock worth $1,035,000 after purchasing an additional 405 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Cedar Fair by 2.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company’s stock worth $580,000 after purchasing an additional 353 shares during the period. Brown Advisory Inc. lifted its position in Cedar Fair by 8.2% during the third quarter. Brown Advisory Inc. now owns 93,486 shares of the company’s stock valued at $3,459,000 after purchasing an additional 7,100 shares in the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. grew its holdings in Cedar Fair by 26.4% during 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. 64.65% of the stock is owned by hedge funds and other institutional investors.

About Cedar Fair

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.