Cedar Fair, L.P. (FUN) Expected to Post Quarterly Sales of $225.69 Million

Equities analysts expect Cedar Fair, L.P. (NYSE:FUN) to report sales of $225.69 million for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Cedar Fair’s earnings. The highest sales estimate is $237.00 million and the lowest is $216.80 million. Cedar Fair posted sales of $191.97 million in the same quarter last year, which indicates a positive year over year growth rate of 17.6%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 21st.

On average, analysts expect that Cedar Fair will report full-year sales of $225.69 million for the current year, with estimates ranging from $1.31 billion to $1.33 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.39 billion per share, with estimates ranging from $1.38 billion to $1.39 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Cedar Fair.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, November 2nd. The company reported $3.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.18). The business 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 for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.10 EPS.

Several research analysts have commented on the stock. B. Riley reiterated a “buy” rating on shares of Cedar Fair in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Cedar Fair from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. Goldman Sachs Group cut shares of Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price for the company. in a report on Wednesday, October 4th. Finally, KeyCorp reiterated a “buy” rating and issued a $74.00 target price on shares of Cedar Fair in a report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.38.

Cedar Fair (NYSE:FUN) opened at $65.16 on Friday. Cedar Fair has a fifty-two week low of $59.66 and a fifty-two week high of $72.56. The company has a market cap of $3,657.72, a PE ratio of 22.05, a price-to-earnings-growth ratio of 3.24 and a beta of 0.53. The company has a quick ratio of 1.06, a current ratio of 1.18 and a debt-to-equity ratio of 22.05.

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 dividend of $0.89 per share. This is a boost from Cedar Fair’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 5.46%. The ex-dividend date was Friday, December 1st. Cedar Fair’s dividend payout ratio (DPR) is currently 134.34%.

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 shares were sold at an average price of $66.40, for a total transaction of $265,600.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew A. Ouimet sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $67.91, for a total transaction of $407,460.00. Following the transaction, 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.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ffcm LLC bought a new position in Cedar Fair during the third quarter valued at approximately $109,000. Advisory Services Network LLC raised its position in Cedar Fair by 10.7% during the second quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock valued at $120,000 after acquiring an additional 160 shares in the last quarter. Captrust Financial Advisors bought a new position in Cedar Fair during the second quarter valued at approximately $123,000. The Manufacturers Life Insurance Company raised its position in Cedar Fair by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock valued at $124,000 after acquiring an additional 108 shares in the last quarter. Finally, Columbia Asset Management bought a new position in Cedar Fair during the second quarter valued at approximately $210,000. 49.90% of the stock is currently owned by hedge funds and other institutional investors.

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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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