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

StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a research report report published on Sunday. The brokerage issued a buy rating on the stock.

Other research analysts have also issued research reports about the company. B. Riley restated a buy rating and set a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Oppenheimer started coverage on shares of Cedar Fair in a report on Thursday, February 8th. They issued an outperform rating and a $49.00 price target for the company. Mizuho initiated coverage on shares of Cedar Fair in a report on Tuesday, March 26th. They issued a buy rating and a $56.00 price target for the company. Stifel Nicolaus raised their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, Truist Financial raised their price objective on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a research note on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cedar Fair presently has an average rating of Buy and a consensus price target of $50.30.

Cedar Fair Stock Performance

Shares of Cedar Fair stock opened at $38.19 on Friday. Cedar Fair has a one year low of $34.04 and a one year high of $45.39. The stock has a market cap of $1.95 billion, a P/E ratio of 15.59 and a beta of 1.41. The stock’s fifty day moving average is $41.09 and its 200 day moving average is $39.38.

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 analysts’ consensus estimates 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 negative return on equity of 21.06% and a net margin of 6.96%. Analysts predict that Cedar Fair will post 3.27 EPS for the current year.

Cedar Fair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Cedar Fair

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after buying an additional 562 shares during the period. Sound Income Strategies LLC increased its holdings in Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after buying an additional 852 shares during the period. PNC Financial Services Group Inc. increased its holdings in Cedar Fair by 10.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after buying an additional 300 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new position in Cedar Fair during the third quarter valued at approximately $206,000. Finally, Saxon Interests Inc. purchased a new position in Cedar Fair during the fourth quarter valued at approximately $308,000. 64.65% of the stock is owned by hedge funds and other institutional investors.

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.