StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN – Free Report) in a research note published on Sunday morning. The brokerage issued a buy rating on the stock.
FUN has been the topic of a number of other reports. B. Riley reissued a buy rating and set a $52.00 price target (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Oppenheimer started coverage on shares of Cedar Fair in a report on Thursday, February 8th. They set an outperform rating and a $49.00 price target on the stock. Truist Financial increased their price target on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a report on Friday, February 16th. KeyCorp increased their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a report on Friday, February 16th. Finally, Mizuho started coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They set a buy rating and a $56.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Cedar Fair presently has a consensus rating of Buy and an average target price of $50.30.
Cedar Fair Trading Down 1.0 %
Shares of FUN stock traded down $0.38 during trading hours on Friday, hitting $38.08. The company’s stock had a trading volume of 41,404 shares, compared to its average volume of 199,709. The company has a 50 day moving average of $41.24 and a 200 day moving average of $39.36. The stock has a market cap of $1.94 billion, a PE ratio of 15.54 and a beta of 1.41. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $45.39.
Cedar Fair (NYSE:FUN – Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). The business had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. As a group, analysts anticipate that Cedar Fair will post 3.27 earnings per share for the current fiscal year.
Cedar Fair Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is 48.98%.
Institutional Investors Weigh In On Cedar Fair
A number of hedge funds have recently modified their holdings of FUN. JPMorgan Chase & Co. raised its position in shares of Cedar Fair by 169,595.4% in the first quarter. JPMorgan Chase & Co. now owns 256,240 shares of the company’s stock valued at $14,042,000 after buying an additional 256,089 shares during the last quarter. Sei Investments Co. raised its position in shares of Cedar Fair by 49.8% in the first quarter. Sei Investments Co. now owns 20,616 shares of the company’s stock valued at $1,130,000 after buying an additional 6,850 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Cedar Fair by 34.6% in the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after buying an additional 550 shares during the last quarter. UBS Group AG raised its position in shares of Cedar Fair by 112.4% in the first quarter. UBS Group AG now owns 1,407,705 shares of the company’s stock valued at $77,142,000 after buying an additional 745,056 shares during the last quarter. Finally, Invesco Ltd. increased its position in Cedar Fair by 117.9% during the first quarter. Invesco Ltd. now owns 1,226,084 shares of the company’s stock worth $67,190,000 after purchasing an additional 663,373 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors and hedge funds.
Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. 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, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California’s Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.