Cedar Fair (NYSE:FUN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a research note released on Monday. The brokerage issued a buy rating on the stock.

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

Cedar Fair Stock Performance

Shares of Cedar Fair stock opened at $38.63 on Monday. The stock has a market capitalization of $1.97 billion, a PE ratio of 15.77 and a beta of 1.41. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $45.39. The company has a 50-day simple moving average of $40.79 and a two-hundred day simple moving average of $39.44.

Cedar Fair (NYSE:FUN) 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, equities research analysts forecast that Cedar Fair will post 3.27 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s payout ratio is 48.98%.

Institutional Investors Weigh In On Cedar Fair

A number of hedge funds have recently bought and sold shares of FUN. UBS Group AG raised its stake in Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after purchasing an additional 2,310,565 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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. Barclays PLC raised its stake in shares of Cedar Fair by 67.6% in the third quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after acquiring an additional 930,021 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of Cedar Fair in the third quarter valued at $25,215,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after acquiring an additional 539,352 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.