FY2020 EPS Estimates for Cedar Fair, L.P. (FUN) Lowered by FBR & Co
Cedar Fair, L.P. (NYSE:FUN) – Investment analysts at FBR & Co cut their FY2020 earnings estimates for shares of Cedar Fair, L.P. in a report issued on Tuesday. FBR & Co analyst B. Crockett now expects that the company will post earnings per share of $3.95 for the year, down from their prior forecast of $4.24. FBR & Co has a “Buy” rating on the stock.
Cedar Fair, L.P. (NYSE:FUN) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.20). The business had revenue of $392.80 million for the quarter, compared to analyst estimates of $405.78 million. Cedar Fair, L.P. had a net margin of 10.50% and a return on equity of 1,048.17%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. COPYRIGHT VIOLATION WARNING: This story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/04/fy2020-eps-estimates-for-cedar-fair-l-p-fun-lowered-by-fbr-co.html.
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded shares of Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $81.00 target price on shares of Cedar Fair, L.P. in a research report on Tuesday, July 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $78.00 price objective on shares of Cedar Fair, L.P. in a report on Friday, July 7th. Finally, KeyCorp reiterated an “overweight” rating and issued a $74.00 price target on shares of Cedar Fair, L.P. in a research note on Wednesday, August 30th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $73.56.
Cedar Fair, L.P. (NYSE FUN) traded down 0.41% during trading on Wednesday, reaching $63.63. The company had a trading volume of 88,681 shares. The company has a market capitalization of $3.58 billion, a P/E ratio of 26.69 and a beta of 0.48. The stock has a 50 day moving average of $65.49 and a 200-day moving average of $68.59. Cedar Fair, L.P. has a 12 month low of $56.23 and a 12 month high of $72.56.
A number of hedge funds have recently modified their holdings of the business. Alps Advisors Inc. lifted its stake in shares of Cedar Fair, L.P. by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 7,065 shares of the company’s stock valued at $509,000 after purchasing an additional 19 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Cedar Fair, L.P. by 0.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 3,084 shares of the company’s stock worth $222,000 after purchasing an additional 21 shares during the period. MAI Capital Management boosted its holdings in shares of Cedar Fair, L.P. by 0.5% in the 2nd quarter. MAI Capital Management now owns 4,670 shares of the company’s stock worth $337,000 after purchasing an additional 23 shares during the period. Dynamic Advisors Solutions LLC boosted its holdings in shares of Cedar Fair, L.P. by 1.2% in the 2nd quarter. Dynamic Advisors Solutions LLC now owns 3,500 shares of the company’s stock worth $252,000 after purchasing an additional 42 shares during the period. Finally, Private Trust Co. NA boosted its holdings in shares of Cedar Fair, L.P. by 0.5% in the 2nd quarter. Private Trust Co. NA now owns 10,048 shares of the company’s stock worth $724,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 51.46% of the company’s stock.
In related news, Director Thomas Klein purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average price of $66.13 per share, for a total transaction of $462,910.00. Following the completion of the transaction, the director now owns 24,960 shares in the company, valued at approximately $1,650,604.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew A. Ouimet sold 2,000 shares of Cedar Fair, L.P. stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $64.90, for a total value of $129,800.00. Following the completion of the transaction, the chief executive officer now owns 193,199 shares of the company’s stock, valued at approximately $12,538,615.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,100 shares of company stock worth $957,099. 2.00% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, September 6th were given a $0.855 dividend. This represents a $3.42 annualized dividend and a yield of 5.35%. The ex-dividend date was Friday, September 1st. Cedar Fair, L.P.’s dividend payout ratio is presently 144.30%.
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.
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