Cedar Fair (NYSE:FUN) Now Covered by Analysts at StockNews.com

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

FUN has been the subject of a number of other reports. Truist Financial increased their price objective on shares of Cedar Fair from $45.00 to $50.00 and gave the stock a buy rating in a research note on Friday, May 10th. Mizuho reduced their price objective on shares of Cedar Fair from $56.00 to $55.00 and set a buy rating for the company in a research note on Wednesday, May 15th. B. Riley increased their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a buy rating in a research note on Wednesday, June 12th. Finally, Morgan Stanley upped their target price on shares of Cedar Fair from $55.00 to $65.00 and gave the stock an overweight rating in a research report on Monday. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Cedar Fair has an average rating of Moderate Buy and an average target price of $53.90.

Cedar Fair Trading Up 5.2 %

Shares of FUN stock opened at $54.83 on Tuesday. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $56.00. The stock has a market cap of $2.81 billion, a P/E ratio of 22.56 and a beta of 1.53. The company has a 50 day simple moving average of $44.75 and a two-hundred day simple moving average of $41.91.

Cedar Fair (NYSE:FUN) last announced its earnings results on Thursday, May 9th. The company reported ($2.47) 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 analysts’ expectations of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. As a group, equities analysts forecast that Cedar Fair will post 3.47 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently disclosed 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 (DPR) is currently 49.38%.

Hedge Funds Weigh In On Cedar Fair

Several institutional investors have recently bought and sold shares of FUN. JPMorgan Chase & Co. lifted its position in Cedar Fair by 50.5% during the third quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. Impala Asset Management LLC raised its stake in shares of Cedar Fair by 21.9% in the third quarter. Impala Asset Management LLC now owns 379,040 shares of the company’s stock valued at $14,024,000 after acquiring an additional 68,150 shares during the period. Aurora Investment Counsel purchased a new stake in shares of Cedar Fair in the third quarter valued at $2,142,000. Sound Income Strategies LLC raised its stake in shares of Cedar Fair by 44.4% in the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after acquiring an additional 852 shares during the period. Finally, Saxon Interests Inc. purchased a new stake in shares of Cedar Fair in the fourth quarter valued at $308,000. Institutional investors own 64.65% of the company’s stock.

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.