Cedar Fair, L.P. (NYSE:FUN) to Issue Quarterly Dividend of $0.30

Cedar Fair, L.P. (NYSE:FUN) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Wednesday, June 5th will be given a dividend of 0.30 per share on Wednesday, June 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Wednesday, June 5th.

Cedar Fair has raised its dividend by an average of 8.7% per year over the last three years.

Cedar Fair Trading Up 0.9 %

NYSE:FUN traded up $0.41 during mid-day trading on Friday, hitting $43.90. The stock had a trading volume of 271,051 shares, compared to its average volume of 211,950. The company has a 50 day simple moving average of $40.77 and a 200-day simple moving average of $39.63. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 17.89 and a beta of 1.42. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $45.39.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The business had revenue of $101.62 million during the quarter, compared to analyst estimates of $91.97 million. As a group, equities research analysts anticipate that Cedar Fair will post 3.23 earnings per share for the current year.

Analysts Set New Price Targets

FUN has been the topic of several research reports. StockNews.com began coverage on shares of Cedar Fair in a research report on Tuesday. They set a “buy” rating on the stock. B. Riley reissued 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. Mizuho started coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They set a “buy” rating and a $56.00 price target for the company. KeyCorp raised their price target on Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Truist Financial lifted their target price on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $50.50.

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.