Cedar Fair (NYSE:FUN) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a research report sent to investors on Friday. The firm issued a hold rating on the stock.

A number of other equities analysts also recently issued reports on FUN. B. Riley upped their price target on Cedar Fair from $52.00 to $59.00 and gave the stock a buy rating in a research report on Wednesday, June 12th. Truist Financial started coverage on Cedar Fair in a research report on Tuesday, July 9th. They set a buy rating and a $62.00 price target on the stock. The Goldman Sachs Group reissued a neutral rating and issued a $63.00 target price on shares of Cedar Fair in a research report on Wednesday, July 10th. Oppenheimer upped their target price on Cedar Fair from $49.00 to $67.00 and gave the company an outperform rating in a research report on Tuesday, July 2nd. Finally, Mizuho cut their target price on Cedar Fair from $56.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Cedar Fair has a consensus rating of Moderate Buy and a consensus price target of $60.10.

Cedar Fair Trading Down 0.6 %

Shares of FUN stock opened at $46.95 on Friday. The business’s fifty day simple moving average is $48.90 and its 200-day simple moving average is $43.71. The company has a market cap of $2.41 billion, a PE ratio of 19.32 and a beta of 1.53. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $58.70.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). The business had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. On average, equities analysts forecast that Cedar Fair will post 3.68 earnings per share for the current year.

Cedar Fair Dividend Announcement

The business also recently declared a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were given a dividend of $1.53 per share. The ex-dividend date was Friday, June 28th. Cedar Fair’s dividend payout ratio is currently 49.38%.

Institutional Investors Weigh In On Cedar Fair

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after purchasing an additional 562 shares during the period. CWM LLC grew its position in Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the period. PNC Financial Services Group Inc. grew its position in Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares during the period. Brookstone Capital Management acquired a new stake in Cedar Fair during the 2nd quarter worth about $215,000. Finally, Thrive Wealth Management LLC purchased a new stake in shares of Cedar Fair during the 2nd quarter worth about $252,000. 64.65% of the stock is 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.