Cedar Fair (NYSE:FUN) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued to investors on Sunday morning. The brokerage issued a buy rating on the stock.

Several other analysts have also weighed in on FUN. Oppenheimer began coverage on Cedar Fair in a report on Thursday, February 8th. They issued an outperform rating and a $49.00 price objective for the company. Stifel Nicolaus upped their target price on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a report on Friday, February 16th. Truist Financial upped their target price on Cedar Fair from $46.00 to $48.00 and gave the company a buy rating in a report on Friday, February 16th. B. Riley reaffirmed a buy rating and set a $52.00 target price (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Finally, Mizuho began coverage on Cedar Fair in a report on Tuesday, March 26th. They set a buy rating and a $56.00 target price for the company. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, Cedar Fair presently has a consensus rating of Buy and a consensus target price of $50.30.

Cedar Fair Stock Down 1.0 %

Shares of Cedar Fair stock opened at $38.08 on Friday. The firm has a market cap of $1.94 billion, a P/E ratio of 15.54 and a beta of 1.41. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $45.39. The business has a 50-day moving average price of $41.24 and a 200 day moving average price of $39.36.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). The firm had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. As a group, equities research analysts anticipate that Cedar Fair will post 3.27 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.15%. Cedar Fair’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Cedar Fair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUN. Barclays PLC boosted its stake in shares of Cedar Fair by 67.6% during the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock worth $85,300,000 after acquiring an additional 930,021 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cedar Fair by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after acquiring an additional 1,130,439 shares in the last quarter. Aurora Investment Counsel bought a new stake in shares of Cedar Fair during the 3rd quarter worth $2,142,000. Sequoia Financial Advisors LLC bought a new stake in shares of Cedar Fair during the 4th quarter worth $463,000. Finally, Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Cedar Fair by 26.4% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock worth $6,341,000 after acquiring an additional 35,818 shares in the last quarter. 64.65% of the stock is owned by institutional investors.

Cedar Fair Company Profile

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.