Cedar Fair, L.P. (FUN) to Release Earnings on Tuesday
Cedar Fair, L.P. (NYSE:FUN) will post its quarterly earnings results before the market opens on Tuesday, October 31st. Analysts expect Cedar Fair, L.P. to post earnings of $3.56 per share for the quarter.
Cedar Fair, L.P. (NYSE:FUN) last announced its earnings results on Wednesday, August 2nd. The company reported $0.82 earnings per share (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 business had revenue of $392.80 million during the quarter, compared to analyst estimates of $405.78 million. During the same period in the previous year, the company earned $1.03 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts expect Cedar Fair, L.P. to post $2.85 EPS for the current fiscal year and $3.5 EPS for the next fiscal year.
Cedar Fair, L.P. (NYSE:FUN) opened at 63.63 on Tuesday. Cedar Fair, L.P. has a 12 month low of $56.23 and a 12 month high of $72.56. The firm has a 50 day moving average price of $63.93 and a 200-day moving average price of $68.10. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 26.69 and a beta of 0.48.
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In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $64.90, for a total value of $129,800.00. Following the sale, the chief executive officer now owns 193,199 shares of the company’s stock, valued at approximately $12,538,615.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew A. Ouimet sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $66.80, for a total value of $200,400.00. Following the completion of the sale, the chief executive officer now directly owns 195,199 shares in the company, valued at approximately $13,039,293.20. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
A hedge fund recently raised its stake in Cedar Fair, L.P. stock. The Manufacturers Life Insurance Company raised its holdings in Cedar Fair, L.P. (NYSE:FUN) by 6.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,718 shares of the company’s stock after buying an additional 108 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Cedar Fair, L.P. were worth $124,000 at the end of the most recent quarter. 51.49% of the stock is owned by institutional investors.
FUN has been the topic of a number of analyst reports. BidaskClub lowered Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $81.00 target price on shares of Cedar Fair, L.P. in a report on Tuesday, July 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $78.00 target price on shares of Cedar Fair, L.P. in a report on Friday, July 7th. Zacks Investment Research raised Cedar Fair, L.P. from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Wednesday, July 12th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $74.00 target price on shares of Cedar Fair, L.P. in a report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $74.38.
About Cedar Fair, L.P.
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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