Cedar Fair, L.P. Downgraded by Zacks to “Neutral” (FUN)
Cedar Fair, L.P. (NYSE:FUN) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Wednesday. They currently have a $56.80 price target on the stock. Zacks‘s price objective would suggest a potential upside of 7.39% from the stock’s previous close.
Cedar Fair, L.P. (NYSE:FUN) traded up 3.46% on Wednesday, hitting $54.72. 194,161 shares of the company’s stock traded hands. Cedar Fair, L.P. has a 52 week low of $38.28 and a 52 week high of $54.70. The stock’s 50-day moving average is $51.5 and its 200-day moving average is $50.64. The company has a market cap of $3.055 billion and a price-to-earnings ratio of 22.09.
Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.51) earnings per share for the quarter, missing the analysts’ consensus estimate of ($1.16) by $0.35. The company had revenue of $40.50 million for the quarter, compared to the consensus estimate of $37.36 million. During the same quarter last year, the company posted ($1.95) earnings per share. Cedar Fair, L.P.’s revenue was down 3.1% compared to the same quarter last year. On average, analysts predict that Cedar Fair, L.P. will post $2.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Wednesday, June 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Monday, June 2nd.
Cedar Fair, L.P. is a limited partnership managed by Cedar Fair Management, Inc (NYSE:FUN).
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