Analysts Offer Predictions for Cedar Fair, L.P.’s FY2024 Earnings (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN) – Stock analysts at B. Riley reduced their FY2024 earnings estimates for Cedar Fair in a research report issued on Thursday, April 18th. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of $2.74 for the year, down from their previous forecast of $2.81. B. Riley has a “Buy” rating and a $52.00 price objective on the stock. The consensus estimate for Cedar Fair’s current full-year earnings is $3.28 per share. B. Riley also issued estimates for Cedar Fair’s FY2025 earnings at $3.71 EPS.

A number of other equities analysts also recently weighed in on the stock. Oppenheimer assumed coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They set an “outperform” rating and a $49.00 target price for the company. Truist Financial raised their price target on shares of Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus raised their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, February 16th. KeyCorp raised their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Mizuho assumed coverage on shares of Cedar Fair in a research report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $50.30.

Cedar Fair Stock Performance

Shares of NYSE FUN opened at $38.19 on Friday. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $45.39. The company has a 50 day simple moving average of $41.24 and a two-hundred day simple moving average of $39.32. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 15.59 and a beta of 1.41.

Cedar Fair (NYSE:FUN) last announced its earnings results 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). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The business had revenue of $371.12 million for the quarter, compared to the consensus estimate of $365.13 million.

Cedar Fair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is 48.98%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Barclays PLC lifted its stake in Cedar Fair by 67.6% in the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after purchasing an additional 930,021 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after purchasing an additional 1,130,439 shares in the last quarter. Aurora Investment Counsel purchased a new stake in Cedar Fair in the 3rd quarter worth $2,142,000. Sequoia Financial Advisors LLC purchased a new stake in Cedar Fair in the 4th quarter worth $463,000. Finally, Leith Wheeler Investment Counsel Ltd. lifted its stake in Cedar Fair by 26.4% in the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock worth $6,341,000 after purchasing an additional 35,818 shares in the last quarter. Hedge funds and other 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.