Cedar Fair, L.P. (NYSE:FUN) has received a consensus recommendation of “Buy” from the ten analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $73.83.

FUN has been the topic of a number of research reports. Goldman Sachs Group cut Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 price target on the stock. in a report on Wednesday, October 4th. Stifel Nicolaus restated a “buy” rating and issued a $74.00 price target (down previously from $75.00) on shares of Cedar Fair in a report on Thursday, September 7th. FBR & Co restated a “buy” rating on shares of Cedar Fair in a report on Thursday, September 7th. B. Riley reiterated a “buy” rating on shares of Cedar Fair in a report on Friday, November 3rd. Finally, KeyCorp reiterated a “buy” rating and set a $74.00 target price on shares of Cedar Fair in a report on Tuesday, October 24th.

Shares of Cedar Fair (NYSE FUN) traded down $0.13 during mid-day trading on Thursday, hitting $67.12. The stock had a trading volume of 63,417 shares, compared to its average volume of 129,910. The stock has a market cap of $3,774.69, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 3.72 and a beta of 0.52. The company has a current ratio of 1.18, a quick ratio of 1.06 and a debt-to-equity ratio of 22.05. Cedar Fair has a fifty-two week low of $59.66 and a fifty-two week high of $72.56.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.18). The firm had revenue of $652.69 million during the quarter, compared to analyst estimates of $652.98 million. Cedar Fair had a return on equity of 2,430.22% and a net margin of 11.75%. The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.10 EPS. analysts expect that Cedar Fair will post 3 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date is Friday, December 1st. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.86. Cedar Fair’s dividend payout ratio is currently 134.34%.

In other Cedar Fair news, CEO Matthew A. Ouimet sold 2,000 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $64.90, for a total transaction of $129,800.00. Following the transaction, the chief executive officer now owns 193,199 shares of the company’s stock, valued at approximately $12,538,615.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew A. Ouimet sold 4,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $66.40, for a total value of $265,600.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Solaris Asset Management LLC raised its position in shares of Cedar Fair by 8.4% in the 2nd quarter. Solaris Asset Management LLC now owns 1,545 shares of the company’s stock worth $111,000 after buying an additional 120 shares during the period. Advisory Services Network LLC raised its position in shares of Cedar Fair by 10.7% in the 2nd quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock worth $120,000 after buying an additional 160 shares during the period. Captrust Financial Advisors purchased a new position in shares of Cedar Fair in the 2nd quarter worth $123,000. The Manufacturers Life Insurance Company raised its position in shares of Cedar Fair by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock worth $124,000 after buying an additional 108 shares during the period. Finally, Ffcm LLC purchased a new position in shares of Cedar Fair in the 3rd quarter worth $109,000. 49.91% of the stock is currently owned by institutional investors and hedge funds.

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About Cedar Fair

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.

Analyst Recommendations for Cedar Fair (NYSE:FUN)

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