Cedar Fair, L.P. (NYSE:FUN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $50.30.

A number of equities analysts recently commented on FUN shares. B. Riley reiterated a “buy” rating and set a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. KeyCorp lifted their price target on Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Truist Financial upped 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. Mizuho initiated coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They set a “buy” rating and a $56.00 target price on the stock. Finally, Oppenheimer began coverage on shares of Cedar Fair in a report on Thursday, February 8th. They issued an “outperform” rating and a $49.00 target price on the stock.

Hedge Funds Weigh In On Cedar Fair

Institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its holdings in Cedar Fair by 313.7% during the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after buying an additional 2,310,565 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cedar Fair by 50.5% during the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after acquiring an additional 1,130,439 shares during the period. Barclays PLC raised its stake 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 acquiring an additional 930,021 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Cedar Fair in the third quarter valued at $25,215,000. Finally, Goldman Sachs Group Inc. grew its stake in Cedar Fair by 15.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after purchasing an additional 539,352 shares in the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.

Cedar Fair Stock Up 0.6 %

Shares of NYSE FUN opened at $38.63 on Friday. The firm has a 50-day simple moving average of $41.09 and a 200-day simple moving average of $39.38. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 15.77 and a beta of 1.41. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $45.39.

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

Cedar Fair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid 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 was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is 48.98%.

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.