Shares of Cedar Fair, L.P. (NYSE:FUN – Get Free Report) gapped up prior to trading on Tuesday after Oppenheimer raised their price target on the stock from $49.00 to $67.00. The stock had previously closed at $52.11, but opened at $53.49. Oppenheimer currently has an outperform rating on the stock. Cedar Fair shares last traded at $53.25, with a volume of 3,840,841 shares trading hands.
Several other equities research analysts have also commented on the company. B. Riley upped their target price on Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Mizuho cut their price target on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Morgan Stanley increased their price target on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial increased their price target on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, StockNews.com assumed coverage on Cedar Fair in a report on Tuesday. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Cedar Fair has a consensus rating of “Moderate Buy” and an average price target of $53.90.
View Our Latest Analysis on Cedar Fair
Institutional Investors Weigh In On Cedar Fair
Cedar Fair Stock Up 5.2 %
The stock has a market cap of $2.81 billion, a PE ratio of 22.56 and a beta of 1.53. The company has a fifty day moving average price of $44.75 and a 200 day moving average price of $41.91.
Cedar Fair (NYSE:FUN – Get Free Report) last announced 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). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The business had revenue of $101.62 million for the quarter, compared to analysts’ expectations of $91.97 million. As a group, research analysts predict that Cedar Fair, L.P. will post 3.47 earnings per share for the current year.
Cedar Fair Dividend Announcement
The firm also recently declared a Variable dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 28th were issued a dividend of $1.53 per share. The ex-dividend date was Friday, June 28th. Cedar Fair’s dividend payout ratio is presently 49.38%.
About Cedar Fair
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.
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