Cedar Fair, L.P. (NYSE:FUN) Receives $49.67 Average Target Price from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUNGet Free Report) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. Ten analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $50.30.

FUN has been the subject of several recent research reports. StockNews.com assumed coverage on shares of Cedar Fair in a research note on Wednesday, March 20th. They issued a “buy” rating for the company. Mizuho started coverage on Cedar Fair in a research report on Tuesday. They issued a “buy” rating and a $56.00 price objective for the company. Morgan Stanley lifted their target price on shares of Cedar Fair from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. Stifel Nicolaus increased their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, B. Riley restated a “buy” rating and issued a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th.

Check Out Our Latest Stock Report on Cedar Fair

Cedar Fair Stock Up 0.6 %

Shares of FUN stock opened at $41.61 on Monday. The firm has a market cap of $2.12 billion, a P/E ratio of 16.98 and a beta of 1.41. The business has a 50-day moving average price of $41.25 and a two-hundred day moving average price of $39.16. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $45.93.

Cedar Fair (NYSE:FUNGet Free Report) last issued its 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). The firm 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%. As a group, research analysts expect that Cedar Fair will post 3.28 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 annualized dividend and a yield of 2.88%. Cedar Fair’s payout ratio is 48.98%.

Hedge Funds Weigh In On Cedar Fair

A number of institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Cedar Fair by 169,595.4% in the 1st quarter. JPMorgan Chase & Co. now owns 256,240 shares of the company’s stock worth $14,042,000 after acquiring an additional 256,089 shares in the last quarter. Sei Investments Co. boosted its position in shares of Cedar Fair by 49.8% in the 1st quarter. Sei Investments Co. now owns 20,616 shares of the company’s stock worth $1,130,000 after purchasing an additional 6,850 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Cedar Fair by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after buying an additional 550 shares during the last quarter. UBS Group AG grew its stake in shares of Cedar Fair by 112.4% in the 1st quarter. UBS Group AG now owns 1,407,705 shares of the company’s stock worth $77,142,000 after buying an additional 745,056 shares during the last quarter. Finally, Invesco Ltd. increased its position in Cedar Fair by 117.9% during the 1st quarter. Invesco Ltd. now owns 1,226,084 shares of the company’s stock valued at $67,190,000 after buying an additional 663,373 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Company Profile

(Get Free Report

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.

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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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