Cedar Fair, L.P. (NYSE:FUN) Increases Dividend to $0.94 Per Share

Cedar Fair, L.P. (NYSE:FUN) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.935 per share on Tuesday, December 17th. This represents a $3.74 dividend on an annualized basis and a dividend yield of 6.72%. The ex-dividend date of this dividend is Tuesday, December 3rd. This is a boost from Cedar Fair’s previous quarterly dividend of $0.93.

Shares of Cedar Fair stock opened at $55.69 on Friday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 2.34 and a beta of 0.49. The business has a 50-day moving average price of $57.06 and a 200-day moving average price of $53.21. Cedar Fair has a twelve month low of $45.58 and a twelve month high of $64.86.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $3.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.46 by ($0.12). The firm had revenue of $714.50 million for 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%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.76 EPS. Sell-side analysts forecast that Cedar Fair will post 3.4 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on FUN. 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. KeyCorp cut their price objective on Cedar Fair from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. TheStreet upgraded Cedar Fair from a “c” rating to a “b-” rating in a research report on Thursday, August 29th. ValuEngine lowered Cedar Fair from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Finally, SunTrust Banks upgraded 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. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $62.60.

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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Dividend History for Cedar Fair (NYSE:FUN)

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