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

Brokerages expect Cedar Fair, L.P. (NYSE:FUN) to announce earnings of $0.21 per share for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for Cedar Fair’s earnings, with estimates ranging from $0.18 to $0.24. Cedar Fair reported earnings per share of ($0.12) in the same quarter last year, which would indicate a positive year over year growth rate of 275%. The business is expected to report its next quarterly earnings results before the market opens on Wednesday, February 14th.

On average, analysts expect that Cedar Fair will report full year earnings of $3.00 per share for the current financial year, with EPS estimates ranging from $2.96 to $3.04. For the next fiscal year, analysts expect that the business will post earnings of $3.38 per share, with EPS estimates ranging from $3.23 to $3.69. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Cedar Fair.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results 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). Cedar Fair had a return on equity of 2,430.22% and a net margin of 11.75%. The company had revenue of $652.69 million for the quarter, compared to analysts’ expectations of $652.98 million. During the same quarter in the previous year, the business earned $3.10 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis.

Several equities research analysts have recently issued reports on FUN shares. Zacks Investment Research upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Thursday. B. Riley restated a “buy” rating on shares of Cedar Fair in a research note on Friday, November 3rd. KeyCorp reaffirmed a “buy” rating and issued a $74.00 price objective on shares of Cedar Fair in a report on Tuesday, October 24th. Finally, Goldman Sachs Group downgraded shares of Cedar Fair from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $73.63.

In other Cedar Fair news, insider Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $64.69, for a total value of $129,380.00. Following the completion of the transaction, the insider now directly owns 243,057 shares of the company’s stock, valued at approximately $15,723,357.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew A. Ouimet sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $66.40, for a total transaction of $265,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,000 shares of company stock valued at $802,440. 2.00% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in Cedar Fair by 42.9% in the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock valued at $292,829,000 after purchasing an additional 1,220,099 shares during the period. Janus Henderson Group PLC boosted its holdings in Cedar Fair by 3.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,090,937 shares of the company’s stock valued at $134,071,000 after purchasing an additional 66,239 shares during the period. Royal Bank of Canada boosted its holdings in Cedar Fair by 3.5% in the 2nd quarter. Royal Bank of Canada now owns 1,004,551 shares of the company’s stock valued at $72,427,000 after purchasing an additional 34,144 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Cedar Fair by 12.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock valued at $35,065,000 after purchasing an additional 52,085 shares during the period. Finally, Epoch Investment Partners Inc. boosted its holdings in Cedar Fair by 2.6% in the 3rd quarter. Epoch Investment Partners Inc. now owns 434,662 shares of the company’s stock valued at $27,870,000 after purchasing an additional 10,996 shares during the period. 49.97% of the stock is owned by hedge funds and other institutional investors.

Shares of Cedar Fair (FUN) traded up $0.69 during mid-day trading on Friday, hitting $65.93. 136,170 shares of the stock traded hands, compared to its average volume of 105,402. The company has a debt-to-equity ratio of 22.05, a quick ratio of 1.06 and a current ratio of 1.18. Cedar Fair has a 12 month low of $59.66 and a 12 month high of $72.56. The stock has a market cap of $3,710.00, a price-to-earnings ratio of 24.79, a P/E/G ratio of 3.22 and a beta of 0.52.

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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.

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Earnings History and Estimates for Cedar Fair (NYSE:FUN)

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