$2.19 Earnings Per Share Expected for Cedar Fair, L.P. (NYSE:FUN) This Quarter

Wall Street brokerages expect Cedar Fair, L.P. (NYSE:FUN) to post earnings per share (EPS) of $2.19 for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Cedar Fair’s earnings, with the highest EPS estimate coming in at $3.30 and the lowest estimate coming in at $1.47. Cedar Fair posted earnings per share of ($2.12) during the same quarter last year, which would indicate a positive year-over-year growth rate of 203.3%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Cedar Fair will report full-year earnings of ($1.25) per share for the current financial year, with EPS estimates ranging from ($2.26) to $0.15. For the next financial year, analysts expect that the company will post earnings of $2.90 per share, with EPS estimates ranging from $2.30 to $3.92. Zacks’ EPS calculations are a mean average based on a survey of analysts that follow Cedar Fair.

Cedar Fair (NYSE:FUN) last released its earnings results on Wednesday, August 4th. The company reported ($1.04) EPS for the quarter, topping the consensus estimate of ($1.45) by $0.41. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $211.79 million. During the same period last year, the firm posted ($2.35) EPS. Cedar Fair’s quarterly revenue was up 3597.0% compared to the same quarter last year.

A number of research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, August 4th. Credit Suisse Group boosted their price objective on shares of Cedar Fair from $69.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.13.

FUN traded down $0.12 during trading hours on Friday, hitting $43.88. The company’s stock had a trading volume of 646 shares, compared to its average volume of 449,098. The business’s 50-day moving average price is $43.72 and its 200-day moving average price is $46.40. Cedar Fair has a 12 month low of $24.48 and a 12 month high of $52.50. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -6.05 and a beta of 2.30.

Institutional investors have recently made changes to their positions in the stock. WealthShield Partners LLC increased its holdings in Cedar Fair by 188.0% in the 2nd quarter. WealthShield Partners LLC now owns 576 shares of the company’s stock worth $26,000 after buying an additional 376 shares during the period. Wedbush Securities Inc. lifted its position in shares of Cedar Fair by 3.6% during the 2nd quarter. Wedbush Securities Inc. now owns 11,275 shares of the company’s stock valued at $505,000 after buying an additional 397 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Cedar Fair by 29.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,760 shares of the company’s stock valued at $87,000 after buying an additional 398 shares in the last quarter. FORA Capital LLC lifted its position in shares of Cedar Fair by 31.2% during the 1st quarter. FORA Capital LLC now owns 1,881 shares of the company’s stock valued at $93,000 after buying an additional 447 shares in the last quarter. Finally, MAI Capital Management lifted its position in shares of Cedar Fair by 4.6% during the 1st quarter. MAI Capital Management now owns 15,288 shares of the company’s stock valued at $760,000 after buying an additional 668 shares in the last quarter. 57.90% of the stock is owned by hedge funds and other institutional investors.

Cedar Fair Company Profile

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.

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Earnings History and Estimates for Cedar Fair (NYSE:FUN)

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