Brokerages Expect Cedar Fair, L.P. (FUN) to Announce $0.21 Earnings Per Share

Equities analysts expect that Cedar Fair, L.P. (NYSE:FUN) will post $0.21 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Cedar Fair’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.24. Cedar Fair posted earnings per share of ($0.12) during the same quarter last year, which suggests a positive year over year growth rate of 275%. The business is expected to report its next quarterly earnings report on Wednesday, February 21st.

On average, analysts expect that Cedar Fair will report full-year earnings of $3.01 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.04. For the next year, analysts forecast that the company will report earnings of $3.34 per share, with EPS estimates ranging from $3.23 to $3.48. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Cedar Fair.

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

A number of research analysts have commented on the company. Zacks Investment Research downgraded Cedar Fair from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley reaffirmed a “buy” rating on shares of Cedar Fair in a report on Friday, November 3rd. KeyCorp reaffirmed a “buy” rating and set a $74.00 target price on shares of Cedar Fair in a report on Tuesday, October 24th. Goldman Sachs Group downgraded Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price on the stock. in a report on Wednesday, October 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $74.00 target price (down previously from $75.00) on shares of Cedar Fair in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.38.

Cedar Fair (FUN) opened at $64.29 on Thursday. 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 1-year low of $59.66 and a 1-year high of $72.56. The company has a market capitalization of $3,620.00, a P/E ratio of 24.17, a price-to-earnings-growth ratio of 3.24 and a beta of 0.52.

The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 4th were issued a $0.89 dividend. This is an increase from Cedar Fair’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Friday, December 1st. This represents a $3.56 annualized dividend and a dividend yield of 5.54%. Cedar Fair’s dividend payout ratio (DPR) is 133.83%.

In related news, CEO Matthew A. Ouimet sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $66.40, for a total value of $265,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew A. Ouimet sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $67.91, for a total value of $407,460.00. Following the completion of the sale, the chief executive officer now directly owns 215,353 shares in the company, valued at approximately $14,624,622.23. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in FUN. Janus Henderson Group PLC bought a new stake in shares of Cedar Fair in the 2nd quarter worth approximately $145,981,000. FMR LLC lifted its holdings in shares of Cedar Fair by 42.9% in the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock worth $292,829,000 after purchasing an additional 1,220,099 shares during the last quarter. ING Groep NV lifted its holdings in shares of Cedar Fair by 163.3% in the 3rd quarter. ING Groep NV now owns 283,956 shares of the company’s stock worth $18,207,000 after purchasing an additional 176,100 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Cedar Fair by 12.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock worth $35,065,000 after purchasing an additional 52,085 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Cedar Fair by 42.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 158,223 shares of the company’s stock worth $10,246,000 after purchasing an additional 46,853 shares during the last quarter. 49.90% of the stock is currently owned by institutional investors and hedge funds.

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Cedar Fair 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 (NYSE:FUN)

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