Cedar Fair (NYSE:FUN) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a report issued on Thursday morning. The firm issued a buy rating on the stock.

Several other equities research analysts have also recently commented on the company. Oppenheimer initiated coverage on Cedar Fair in a report on Thursday, February 8th. They set an outperform rating and a $49.00 target price on the stock. Truist Financial lifted their price objective on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a research report on Friday, February 16th. KeyCorp boosted their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company an overweight rating in a report on Friday, February 16th. B. Riley reaffirmed a buy rating and issued a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Finally, Stifel Nicolaus lifted their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a research note on Friday, February 16th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cedar Fair presently has an average rating of Buy and an average target price of $50.30.

Cedar Fair Stock Up 1.0 %

Shares of NYSE FUN opened at $41.90 on Thursday. The firm’s 50-day moving average price is $41.31 and its two-hundred day moving average price is $39.18. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $45.93. The stock has a market capitalization of $2.14 billion, a P/E ratio of 17.10 and a beta of 1.41.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $371.12 million for the quarter, compared to the consensus estimate 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 3.28 earnings per share for the current year.

Cedar Fair Announces Dividend

The company also recently announced 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. This represents a $1.20 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is 48.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of 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 purchasing an additional 930,021 shares during the period. JPMorgan Chase & Co. increased its stake in Cedar Fair by 50.5% in the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after acquiring an additional 1,130,439 shares during the period. Aurora Investment Counsel bought a new stake in Cedar Fair in the third quarter valued at about $2,142,000. Leith Wheeler Investment Counsel Ltd. increased its stake in Cedar Fair by 26.4% in the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock valued at $6,341,000 after acquiring an additional 35,818 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in Cedar Fair in the third quarter valued at about $25,215,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.