Cedar Fair, L.P. (NYSE:FUN – Get Free Report) saw unusually-high trading volume on Wednesday after Oppenheimer raised their price target on the stock from $49.00 to $67.00. Oppenheimer currently has an outperform rating on the stock. Approximately 367,645 shares changed hands during trading, a decline of 9% from the previous session’s volume of 403,620 shares.The stock last traded at $55.40 and had previously closed at $54.89.
A number of other equities analysts also recently commented on FUN. B. Riley upped their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. Mizuho cut their price target on shares of Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Morgan Stanley lifted their price objective on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial boosted their target price on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Finally, StockNews.com started coverage on Cedar Fair in a report on Tuesday. They issued a “hold” rating for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.90.
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Hedge Funds Weigh In On Cedar Fair
Cedar Fair Stock Performance
The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 23.35 and a beta of 1.53. The company has a fifty day simple moving average of $45.50 and a two-hundred day simple moving average of $42.12.
Cedar Fair (NYSE:FUN – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $91.97 million. As a group, analysts expect that Cedar Fair, L.P. will post 3.33 EPS for the current year.
Cedar Fair Dividend Announcement
The business also recently disclosed a Variable dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 28th were paid a dividend of $1.53 per share. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s dividend payout ratio is currently 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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