Cedar Fair, L.P. (NYSE:FUN) Receives $50.30 Consensus Price Target from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been given a consensus recommendation of “Buy” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $50.30.

A number of equities research analysts have recently commented on the company. Mizuho started coverage on Cedar Fair in a research report on Tuesday, March 26th. They set a “buy” rating and a $56.00 target price on the stock. Stifel Nicolaus lifted their price objective on Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, February 16th. StockNews.com started coverage on Cedar Fair in a report on Sunday. They issued a “buy” rating on the stock. B. Riley reiterated a “buy” rating and issued a $52.00 price objective (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Finally, Truist Financial lifted their price objective on Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 16th.

Cedar Fair Stock Performance

NYSE FUN opened at $38.08 on Friday. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $45.39. The firm has a market capitalization of $1.94 billion, a P/E ratio of 15.54 and a beta of 1.41. The stock has a 50-day simple moving average of $41.24 and a two-hundred day simple moving average of $39.36.

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

Cedar Fair Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.15%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s payout ratio is presently 48.98%.

Institutional Trading of Cedar Fair

Institutional investors have recently made changes to their positions in the company. PenderFund Capital Management Ltd. purchased a new stake in shares of Cedar Fair during the 1st quarter valued at approximately $41,000. Money Concepts Capital Corp purchased a new stake in Cedar Fair in the fourth quarter valued at approximately $26,000. Tower Research Capital LLC TRC raised its position in Cedar Fair by 355.3% in the first quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock valued at $38,000 after purchasing an additional 636 shares during the period. Ancora Advisors LLC raised its position in Cedar Fair by 34.6% in the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after purchasing an additional 550 shares during the period. Finally, BNP Paribas Arbitrage SNC raised its position in Cedar Fair by 33.9% in the third quarter. BNP Paribas Arbitrage SNC now owns 2,685 shares of the company’s stock valued at $110,000 after purchasing an additional 680 shares during the period. Hedge funds and other institutional investors own 64.65% of the company’s stock.

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.