Brokerages expect Cedar Fair, L.P. (NYSE:FUN) to post $3.25 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Cedar Fair, L.P.’s earnings, with estimates ranging from $3.08 to $3.38. Cedar Fair, L.P. posted earnings per share of $3.10 during the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The company is expected to report its next quarterly earnings results before the market opens on Thursday, November 2nd.

On average, analysts expect that Cedar Fair, L.P. will report full year earnings of $2.85 per share for the current year, with EPS estimates ranging from $2.70 to $2.95. For the next fiscal year, analysts anticipate that the company will report earnings of $3.50 per share, with EPS estimates ranging from $3.38 to $3.66. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Cedar Fair, L.P..

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

FUN has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Goldman Sachs Group, Inc. (The) downgraded shares of Cedar Fair, L.P. from a “conviction-buy” rating to a “buy” rating and set a $75.00 price target for the company. in a research note on Wednesday, October 4th. BidaskClub downgraded shares of Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $74.00 price target (down from $75.00) on shares of Cedar Fair, L.P. in a research note on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Cedar Fair, L.P. currently has an average rating of “Buy” and a consensus price target of $74.38.

In other Cedar Fair, L.P. news, Director Thomas Klein bought 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average cost of $66.13 per share, with a total value of $462,910.00. Following the completion of the transaction, the director now directly owns 24,960 shares in the company, valued at approximately $1,650,604.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew A. Ouimet sold 2,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $64.90, for a total transaction of $129,800.00. Following the sale, the chief executive officer now directly owns 193,199 shares of the company’s stock, valued at $12,538,615.10. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Advisory Services Network LLC increased its position in shares of Cedar Fair, L.P. by 10.7% during the second quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock worth $120,000 after acquiring an additional 160 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Cedar Fair, L.P. by 3.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 16,531 shares of the company’s stock worth $1,192,000 after acquiring an additional 517 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Cedar Fair, L.P. by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock worth $124,000 after acquiring an additional 108 shares in the last quarter. Osterweis Capital Management Inc. increased its position in shares of Cedar Fair, L.P. by 7.8% during the second quarter. Osterweis Capital Management Inc. now owns 389,556 shares of the company’s stock worth $28,087,000 after acquiring an additional 28,235 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in shares of Cedar Fair, L.P. during the second quarter worth about $145,981,000. 51.46% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Zacks: Analysts Anticipate Cedar Fair, L.P. (FUN) Will Announce Earnings of $3.25 Per Share” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international copyright and trademark laws. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/10/22/zacks-analysts-anticipate-cedar-fair-l-p-fun-will-announce-earnings-of-3-25-per-share.html.

Cedar Fair, L.P. (FUN) traded down 0.55% during mid-day trading on Friday, hitting $63.53. 50,750 shares of the company were exchanged. Cedar Fair, L.P. has a 12-month low of $56.23 and a 12-month high of $72.56. The company’s 50-day moving average is $64.02 and its 200 day moving average is $68.14. The company has a market capitalization of $3.57 billion, a P/E ratio of 26.65 and a beta of 0.48.

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

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