Cedar Fair, L.P. (NYSE:FUN) – KeyCorp upped their FY2020 earnings per share (EPS) estimates for shares of Cedar Fair in a research note issued to investors on Wednesday, November 6th. KeyCorp analyst B. Andress now forecasts that the company will earn $3.65 per share for the year, up from their prior forecast of $3.60. KeyCorp currently has a “Overweight” rating and a $67.00 price target on the stock.
A number of other brokerages also recently commented on FUN. TheStreet raised Cedar Fair from a “c” rating to a “b-” rating in a research report on Thursday, August 29th. Wedbush set a $60.00 price objective on Cedar Fair and gave the company a “buy” rating in a research report on Thursday, September 12th. SunTrust Banks raised Cedar Fair from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Thursday, August 22nd. ValuEngine downgraded Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research raised Cedar Fair from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $62.60.
Shares of NYSE:FUN traded down $0.59 during midday trading on Friday, reaching $55.10. The company’s stock had a trading volume of 219,807 shares, compared to its average volume of 296,346. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.34 and a beta of 0.49. Cedar Fair has a 1 year low of $45.58 and a 1 year high of $64.86. The business has a 50 day moving average price of $57.07 and a 200 day moving average price of $53.22.
Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $3.34 EPS for the quarter, missing the Zacks’ consensus estimate of $3.46 by ($0.12). The business had revenue of $714.50 million during the quarter, compared to analysts’ expectations of $684.43 million. Cedar Fair had a net margin of 12.03% and a negative return on equity of 939.99%. Cedar Fair’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.76 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Wednesday, December 4th will be given a $0.935 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.79%. This is an increase from Cedar Fair’s previous quarterly dividend of $0.93. Cedar Fair’s payout ratio is currently 122.52%.
Institutional investors have recently modified their holdings of the stock. Parallax Volatility Advisers L.P. acquired a new position in Cedar Fair in the second quarter valued at $25,000. Massey Quick Simon & CO. LLC boosted its holdings in Cedar Fair by 2,873.3% in the third quarter. Massey Quick Simon & CO. LLC now owns 446 shares of the company’s stock valued at $26,000 after acquiring an additional 431 shares during the last quarter. Personal Wealth Partners acquired a new position in Cedar Fair in the second quarter valued at $27,000. Coastal Capital Group Inc. acquired a new position in Cedar Fair in the second quarter valued at $31,000. Finally, Doyle Wealth Management acquired a new position in Cedar Fair in the second quarter valued at $32,000. Hedge funds and other institutional investors own 50.41% of the company’s stock.
About Cedar Fair
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Knott's Berry Farm near Los Angeles, California; Canada's Wonderland near Toronto, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
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