Investment Analysts’ Weekly Ratings Changes for Cedar Fair (FUN)

Several analysts have recently updated their ratings and price targets for Cedar Fair (NYSE: FUN):

• 5/7/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 5/3/2024 – Cedar Fair had its price target lowered by analysts at Truist Financial Co. from $48.00 to $45.00. They now have a “buy” rating on the stock.
• 4/29/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 4/21/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 4/13/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 4/5/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 3/28/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 3/26/2024 – Cedar Fair is now covered by analysts at Mizuho. They set a “buy” rating and a $56.00 price target on the stock.
• 3/20/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
• 3/12/2024 – Cedar Fair is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

Cedar Fair Stock Performance

Shares of NYSE:FUN opened at $40.35 on Wednesday. The company has a 50 day moving average price of $40.70 and a two-hundred day moving average price of $39.60. The company has a market capitalization of $2.07 billion, a PE ratio of 16.47 and a beta of 1.42. Cedar Fair, L.P. has a 52 week low of $34.04 and a 52 week high of $45.39.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $365.13 million. On average, sell-side analysts forecast that Cedar Fair, L.P. will post 3.23 earnings per share for the current year.

Cedar Fair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Investors Weigh In On Cedar Fair

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings 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. JPMorgan Chase & Co. raised its position 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 buying an additional 1,130,439 shares during the last quarter. UBS Group AG lifted its stake 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 acquiring an additional 2,310,565 shares in the last quarter. Barclays PLC boosted its position in Cedar Fair by 67.6% during the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after acquiring an additional 930,021 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new stake in shares of Cedar Fair in the third quarter valued at approximately $25,215,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

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.