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

Cedar Fair, L.P. (NYSE:FUN) has received a consensus rating of “Buy” from the ten research firms that are covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $50.30.

Several equities analysts have recently commented on the stock. Truist Financial increased their price target on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Mizuho initiated coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They set a “buy” rating and a $56.00 price objective on the stock. KeyCorp increased their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Oppenheimer initiated coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They set an “outperform” rating and a $49.00 price objective on the stock. Finally, B. Riley reiterated a “buy” rating and set a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th.

Institutional Trading of Cedar Fair

A number of large investors have recently added to or reduced their stakes in the business. Money Concepts Capital Corp acquired a new position in Cedar Fair in the 4th quarter worth approximately $26,000. Tower Research Capital LLC TRC boosted its stake in Cedar Fair by 201.4% in 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. PenderFund Capital Management Ltd. acquired a new position in Cedar Fair in the 1st quarter worth approximately $41,000. Ancora Advisors LLC boosted its stake in Cedar Fair by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after purchasing an additional 550 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after buying an additional 852 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.

Cedar Fair Trading Down 0.2 %

Shares of Cedar Fair stock opened at $38.55 on Friday. The company has a fifty day moving average price of $41.31 and a 200 day moving average price of $39.31. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 15.73 and a beta of 1.41. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $45.39.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. Analysts forecast that Cedar Fair will post 3.28 earnings per share for the current year.

Cedar Fair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s payout ratio is 48.98%.

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.