ValuEngine downgraded shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a report released on Friday, ValuEngine reports.
A number of other equities analysts have also recently weighed in on FUN. Zacks Investment Research cut Cedar Fair from a hold rating to a sell rating in a report on Friday, February 21st. B. Riley cut their price target on Cedar Fair from $58.00 to $44.00 and set a neutral rating for the company in a report on Tuesday, March 10th. Finally, TheStreet cut Cedar Fair from a b- rating to a c rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $59.40.
Shares of FUN stock opened at $18.59 on Friday. The stock has a fifty day moving average price of $46.61 and a 200 day moving average price of $53.64. The stock has a market cap of $1.51 billion, a PE ratio of 6.18, a P/E/G ratio of 0.93 and a beta of 0.70. Cedar Fair has a 1 year low of $18.43 and a 1 year high of $64.86. The company has a debt-to-equity ratio of 50.48, a quick ratio of 0.81 and a current ratio of 0.91.
Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.09). Cedar Fair had a negative return on equity of 395.23% and a net margin of 11.69%. The company had revenue of $257.25 million during the quarter, compared to analyst estimates of $267.47 million. As a group, equities research analysts predict that Cedar Fair will post 3.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Stockholders of record on Wednesday, March 4th will be issued a $0.935 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $3.74 dividend on an annualized basis and a dividend yield of 20.12%. Cedar Fair’s dividend payout ratio (DPR) is 121.43%.
In other Cedar Fair news, COO Tim Fisher acquired 3,660 shares of the stock in a transaction dated Wednesday, March 11th. The stock was acquired at an average price of $27.33 per share, with a total value of $100,027.80. Following the completion of the transaction, the chief operating officer now directly owns 24,153 shares in the company, valued at $660,101.49. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Milkie Duffield acquired 5,390 shares of the stock in a transaction dated Friday, March 6th. The stock was acquired at an average cost of $37.58 per share, with a total value of $202,556.20. Over the last three months, insiders bought 28,130 shares of company stock valued at $1,008,559. Insiders own 2.20% of the company’s stock.
Several large investors have recently made changes to their positions in FUN. BB&T Securities LLC purchased a new stake in shares of Cedar Fair in the third quarter valued at $232,000. California Public Employees Retirement System grew its position in shares of Cedar Fair by 16.2% in the third quarter. California Public Employees Retirement System now owns 114,987 shares of the company’s stock valued at $6,711,000 after purchasing an additional 15,989 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Cedar Fair in the third quarter valued at $730,000. Tower Research Capital LLC TRC purchased a new stake in shares of Cedar Fair in the third quarter valued at $71,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Cedar Fair in the third quarter valued at $35,000. 50.40% of the stock is owned by institutional investors and hedge funds.
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.