Cedar Fair, L.P. (NYSE:FUN) – Equities research analysts at KeyCorp issued their Q2 2019 earnings per share (EPS) estimates for shares of Cedar Fair in a research note issued on Wednesday, January 9th, Zacks Investment Research reports. KeyCorp analyst B. Andress anticipates that the company will post earnings per share of $0.84 for the quarter. KeyCorp also issued estimates for Cedar Fair’s Q3 2019 earnings at $3.81 EPS, Q4 2019 earnings at $0.23 EPS and FY2020 earnings at $3.60 EPS.
Several other equities research analysts also recently issued reports on FUN. Zacks Investment Research upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Monday, December 24th. SunTrust Banks reiterated a “hold” rating and issued a $54.00 price target on shares of Cedar Fair in a research note on Monday, December 24th. Finally, ValuEngine upgraded shares of Cedar Fair from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Cedar Fair currently has a consensus rating of “Hold” and an average target price of $61.33.
Shares of NYSE FUN traded up $0.49 during mid-day trading on Thursday, reaching $55.79. The company had a trading volume of 185,168 shares, compared to its average volume of 140,796. The company has a quick ratio of 0.94, a current ratio of 1.07 and a debt-to-equity ratio of 18.09. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 2.87 and a beta of 0.61. Cedar Fair has a 1-year low of $45.73 and a 1-year high of $70.82.
In other news, Director Thomas Klein acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average cost of $50.98 per share, with a total value of $1,019,600.00. Following the completion of the purchase, the director now directly owns 56,012 shares of the company’s stock, valued at approximately $2,855,491.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Zimmerman acquired 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The stock was purchased at an average cost of $48.92 per share, for a total transaction of $293,520.00. Following the completion of the purchase, the chief executive officer now directly owns 166,684 shares of the company’s stock, valued at $8,154,181.28. The disclosure for this purchase can be found here. 2.00% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of FUN. CWM LLC bought a new position in shares of Cedar Fair during the 4th quarter valued at $65,000. First Manhattan Co. grew its position in Cedar Fair by 166.7% in the 4th quarter. First Manhattan Co. now owns 1,600 shares of the company’s stock valued at $75,000 after acquiring an additional 1,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Cedar Fair by 61.4% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,934 shares of the company’s stock valued at $153,000 after acquiring an additional 1,116 shares in the last quarter. Edge Wealth Management LLC acquired a new position in Cedar Fair in the 3rd quarter valued at about $154,000. Finally, Columbia Asset Management acquired a new position in Cedar Fair in the 3rd quarter valued at about $154,000. Hedge funds and other institutional investors own 51.29% 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.