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

StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN) in a report published on Monday. The firm issued a buy rating on the stock.

Several other brokerages have also commented on FUN. Mizuho lowered their price objective on shares of Cedar Fair from $56.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, May 15th. Truist Financial lifted their price objective on shares of Cedar Fair from $45.00 to $50.00 and gave the stock a buy rating in a research report on Friday, May 10th. Finally, B. Riley lifted their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a buy rating in a research report on Wednesday, June 12th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $51.10.

Cedar Fair Stock Performance

Shares of FUN stock opened at $50.73 on Monday. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 20.88 and a beta of 1.45. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $52.53. The firm’s 50-day simple moving average is $43.08 and its two-hundred day simple moving average is $41.34.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The company had revenue of $101.62 million during the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. Analysts forecast that Cedar Fair will post 3.47 earnings per share for the current year.

Cedar Fair Announces Dividend

The firm also recently disclosed a Variable dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 28th will be paid a $1.53 dividend. The ex-dividend date of this dividend is Friday, June 28th. Cedar Fair’s dividend payout ratio (DPR) is 49.38%.

Institutional Investors Weigh In On Cedar Fair

A number of institutional investors have recently made changes to their positions in FUN. Tower Research Capital LLC TRC boosted its stake in shares of Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after purchasing an additional 562 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Cedar Fair by 44.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after purchasing an additional 852 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after purchasing an additional 300 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Cedar Fair during the 1st quarter valued at $257,000. Finally, Cetera Advisors LLC grew its holdings in Cedar Fair by 10.9% in the 1st quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock worth $288,000 after acquiring an additional 675 shares during 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.