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

StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued to investors on Tuesday. The firm issued a buy rating on the stock.

Several other research firms have also weighed in on FUN. Oppenheimer started coverage on shares of Cedar Fair in a report on Thursday, February 8th. They set an outperform rating and a $49.00 target price on the stock. B. Riley restated a buy rating and set a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Stifel Nicolaus increased their target price on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a research note on Friday, February 16th. Mizuho began coverage on Cedar Fair in a research report on Tuesday, March 26th. They set a buy rating and a $56.00 price target on the stock. Finally, Truist Financial lowered their price objective on shares of Cedar Fair from $48.00 to $45.00 and set a buy rating for the company in a research report on Friday, May 3rd. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $50.00.

Cedar Fair Price Performance

Shares of NYSE:FUN opened at $40.35 on Tuesday. The firm has a market capitalization of $2.07 billion, a PE ratio of 16.47 and a beta of 1.42. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.39. The business has a 50-day moving average of $40.70 and a two-hundred day moving average of $39.60.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) 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 analyst estimates 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 anticipate that Cedar Fair will post 3.23 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Trading of Cedar Fair

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its stake in Cedar Fair by 67.6% during the 3rd 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 last quarter. JPMorgan Chase & Co. lifted its position in shares of Cedar Fair by 50.5% during the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. Aurora Investment Counsel acquired a new position in Cedar Fair in the third quarter worth about $2,142,000. Sequoia Financial Advisors LLC bought a new stake in Cedar Fair in the fourth quarter valued at about $463,000. Finally, Leith Wheeler Investment Counsel Ltd. raised its stake in Cedar Fair by 26.4% during the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock valued at $6,341,000 after buying an additional 35,818 shares in the last quarter. Institutional investors 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.