Cedar Fair (NYSE:FUN) Earns Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a research report sent to investors on Saturday morning. The brokerage issued a buy rating on the stock.

Several other equities research analysts also recently issued reports on the company. B. Riley reaffirmed a buy rating and issued a $52.00 price target (up from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Mizuho began coverage on Cedar Fair in a research report on Tuesday, March 26th. They set a buy rating and a $56.00 target price on the stock. Stifel Nicolaus lifted their target price on Cedar Fair from $49.00 to $52.00 and gave the stock a buy rating in a research report on Friday, February 16th. Truist Financial lifted their target price on Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, KeyCorp lifted their target price on Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a research report on Friday, February 16th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $50.30.

Cedar Fair Price Performance

Cedar Fair stock opened at $38.97 on Friday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 15.91 and a beta of 1.41. The company’s fifty day moving average price is $41.46 and its two-hundred day moving average price is $39.30. Cedar Fair has a one year low of $34.04 and a one year high of $45.39.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (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 analyst estimates 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, sell-side analysts anticipate that Cedar Fair will post 3.28 earnings per share for the current year.

Cedar Fair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is currently 48.98%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Barclays PLC raised its position in Cedar Fair by 67.6% in the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after purchasing an additional 930,021 shares during the last quarter. JPMorgan Chase & Co. raised its position in Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. Aurora Investment Counsel bought a new position in Cedar Fair in the 3rd quarter worth approximately $2,142,000. Leith Wheeler Investment Counsel Ltd. raised its position in Cedar Fair by 26.4% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock worth $6,341,000 after purchasing an additional 35,818 shares during the last quarter. Finally, Saxon Interests Inc. bought a new position in Cedar Fair in the 4th quarter worth approximately $308,000. Institutional investors own 64.65% of the company’s stock.

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.