Cedar Fair, L.P. Price Target Lowered to $60.00 at FBR Capital Markets (FUN)
Equities research analysts at FBR Capital Markets dropped their price objective on shares of Cedar Fair, L.P. (NYSE:FUN) from $70.00 to $60.00 in a research note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price objective would indicate a potential upside of 26.50% from the stock’s previous close.
Separately, analysts at Hilliard Lyons upgraded shares of Cedar Fair, L.P. from a “neutral” rating to a “buy” rating in a research note on Tuesday, July 15th.
Cedar Fair, L.P. (NYSE:FUN) traded up 0.89% on Friday, hitting $47.85. The stock had a trading volume of 79,285 shares. Cedar Fair, L.P. has a one year low of $42.62 and a one year high of $55.77. The stock has a 50-day moving average of $50.75 and a 200-day moving average of $51.6. The company has a market cap of $2.673 billion and a P/E ratio of 20.29.
Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.79 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.14 by $0.35. The company had revenue of $363.00 million for the quarter, compared to the consensus estimate of $379.29 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Thursday, September 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Tuesday, September 2nd.
Cedar Fair, L.P. is a limited partnership managed by Cedar Fair Management, Inc (NYSE:FUN).
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