Analysts Set Cedar Fair, L.P. (FUN) PT at $61.20

Cedar Fair, L.P. (NYSE:FUN) has been given an average recommendation of “Buy” by the ten research firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $61.20.

Several brokerages recently weighed in on FUN. Zacks Investment Research downgraded shares of Cedar Fair from a “buy” rating to a “hold” rating in a report on Friday, February 1st. TheStreet raised shares of Cedar Fair from a “c+” rating to a “b-” rating in a report on Thursday, January 31st. Finally, B. Riley set a $60.00 target price on shares of Cedar Fair and gave the stock a “buy” rating in a report on Wednesday, May 8th.

Shares of FUN stock traded down $0.80 during mid-day trading on Thursday, reaching $52.52. 138,694 shares of the company’s stock traded hands, compared to its average volume of 189,605. Cedar Fair has a 12 month low of $45.73 and a 12 month high of $67.35. The company has a debt-to-equity ratio of 51.13, a current ratio of 0.63 and a quick ratio of 0.72. The company has a market cap of $2.97 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 2.66 and a beta of 0.57.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($1.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. The firm had revenue of $67.00 million during the quarter, compared to the consensus estimate of $55.14 million. Cedar Fair had a net margin of 9.29% and a negative return on equity of 1,151.68%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.49) EPS. Equities research analysts expect that Cedar Fair will post 3.3 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be issued a $0.925 dividend. This represents a $3.70 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend is Monday, June 3rd. Cedar Fair’s dividend payout ratio is currently 122.52%.

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC boosted its holdings in Cedar Fair by 44.6% in the 4th quarter. Virtu Financial LLC now owns 20,721 shares of the company’s stock worth $980,000 after buying an additional 6,395 shares during the period. Acadian Asset Management LLC bought a new position in Cedar Fair in the 4th quarter worth $365,000. IFP Advisors Inc boosted its holdings in Cedar Fair by 31.9% in the 4th quarter. IFP Advisors Inc now owns 4,091 shares of the company’s stock worth $197,000 after buying an additional 989 shares during the period. Huntington National Bank lifted its stake in Cedar Fair by 5.0% in the 4th quarter. Huntington National Bank now owns 12,295 shares of the company’s stock worth $582,000 after purchasing an additional 591 shares in the last quarter. Finally, Truehand Inc purchased a new stake in Cedar Fair in the 4th quarter worth $1,357,000. 51.25% of the stock is owned by institutional investors.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.

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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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