Cedar Fair, L.P. (NYSE:FUN) – Equities researchers at SunTrust Banks reduced their Q3 2017 earnings estimates for shares of Cedar Fair, L.P. in a research report issued on Wednesday. SunTrust Banks analyst M. Swartz now forecasts that the company will earn $3.36 per share for the quarter, down from their prior estimate of $3.51. SunTrust Banks currently has a “Hold” rating and a $72.00 target price on the stock. SunTrust Banks also issued estimates for Cedar Fair, L.P.’s Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $2.98 EPS and FY2018 earnings at $3.55 EPS.

Several other equities analysts have also issued reports on FUN. Stifel Nicolaus started coverage on shares of Cedar Fair, L.P. in a report on Thursday, April 20th. They issued a “buy” rating and a $78.00 price target for the company. Zacks Investment Research raised shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, July 12th. Goldman Sachs Group Inc reissued a “buy” rating and issued a $81.00 price target on shares of Cedar Fair, L.P. in a report on Tuesday, July 4th. Finally, BidaskClub lowered shares of Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $74.75.

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Shares of Cedar Fair, L.P. (NYSE:FUN) opened at 66.46 on Monday. The stock has a 50 day moving average price of $70.48 and a 200-day moving average price of $68.63. Cedar Fair, L.P. has a 12-month low of $56.23 and a 12-month high of $72.56. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 27.88 and a beta of 0.50.

Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $1.02 by $0.20. The company had revenue of $392.80 million for the quarter, compared to the consensus estimate of $405.78 million. Cedar Fair, L.P. had a return on equity of 1,048.17% and a net margin of 10.50%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, September 6th will be given a $0.855 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.42 annualized dividend and a yield of 5.15%. Cedar Fair, L.P.’s dividend payout ratio is currently 144.30%.

In related news, CEO Matthew A. Ouimet sold 9,100 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $68.89, for a total value of $626,899.00. Following the sale, the chief executive officer now directly owns 200,799 shares of the company’s stock, valued at approximately $13,833,043.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew A. Ouimet sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $70.15, for a total transaction of $1,052,250.00. Following the completion of the sale, the chief executive officer now directly owns 220,499 shares in the company, valued at $15,468,004.85. The disclosure for this sale can be found here. Insiders sold a total of 36,100 shares of company stock worth $2,533,549 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. Willingdon Wealth Management boosted its stake in Cedar Fair, L.P. by 5.1% in the first quarter. Willingdon Wealth Management now owns 25,034 shares of the company’s stock valued at $1,698,000 after buying an additional 1,219 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Cedar Fair, L.P. by 3.8% in the first quarter. Kornitzer Capital Management Inc. KS now owns 6,775 shares of the company’s stock valued at $459,000 after buying an additional 250 shares in the last quarter. Advisory Services Network LLC bought a new stake in Cedar Fair, L.P. during the first quarter valued at approximately $102,000. IFP Advisors Inc boosted its stake in Cedar Fair, L.P. by 3.2% in the first quarter. IFP Advisors Inc now owns 7,188 shares of the company’s stock valued at $487,000 after buying an additional 221 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Cedar Fair, L.P. by 4.9% in the first quarter. Janney Montgomery Scott LLC now owns 5,370 shares of the company’s stock valued at $364,000 after buying an additional 250 shares in the last quarter. 51.77% of the stock is currently owned by institutional investors and hedge funds.

Cedar Fair, L.P. Company Profile

Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.

Earnings History and Estimates for Cedar Fair, L.P. (NYSE:FUN)

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