Cedar Fair, L.P. (NYSE:FUN) Given Average Recommendation of “Moderate Buy” by Analysts

Cedar Fair, L.P. (NYSE:FUN) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $58.82.

A number of research analysts have recently commented on FUN shares. Citigroup dropped their price objective on shares of Cedar Fair from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. initiated coverage on shares of Cedar Fair in a report on Tuesday, August 6th. They issued an “underweight” rating and a $50.00 price target on the stock. Oppenheimer increased their price objective on shares of Cedar Fair from $49.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Mizuho reduced their target price on shares of Cedar Fair from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Macquarie lowered their price target on Cedar Fair from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, August 9th.

Hedge Funds Weigh In On Cedar Fair

Several institutional investors and hedge funds have recently made changes to their positions in FUN. CWM LLC raised its stake in Cedar Fair by 932.0% during the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after buying an additional 1,864 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake 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 worth $131,000 after purchasing an additional 300 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in Cedar Fair by 94.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,887 shares of the company’s stock worth $157,000 after purchasing an additional 1,400 shares during the period. Brookstone Capital Management acquired a new stake in shares of Cedar Fair during the second quarter worth $215,000. Finally, Thrive Wealth Management LLC acquired a new stake in shares of Cedar Fair during the second quarter worth $252,000. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Stock Performance

FUN stock opened at $40.88 on Monday. Cedar Fair has a one year low of $34.04 and a one year high of $58.70. The stock has a market capitalization of $2.10 billion, a P/E ratio of 16.82 and a beta of 1.55. The company has a 50 day moving average price of $45.97 and a two-hundred day moving average price of $44.47.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. Cedar Fair had a negative return on equity of 23.97% and a net margin of 6.80%. The business had revenue of $571.62 million during the quarter, compared to the consensus estimate of $525.57 million. Research analysts forecast that Cedar Fair will post 2.78 earnings per share for the current fiscal 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 paid a $1.53 dividend. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s dividend payout ratio (DPR) is 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.