Cedar Fair, L.P. (NYSE:FUN – Get Free Report)’s stock price gapped up before the market opened on Tuesday after Oppenheimer raised their price target on the stock from $49.00 to $67.00. The stock had previously closed at $52.11, but opened at $53.49. Oppenheimer currently has an outperform rating on the stock. Cedar Fair shares last traded at $53.25, with a volume of 3,840,841 shares.
A number of other equities analysts have also issued reports on the company. StockNews.com assumed coverage on Cedar Fair in a research report on Tuesday. They issued a “hold” rating on the stock. Truist Financial upped their target price on Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Morgan Stanley upped their target price on Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. Mizuho dropped their price target on Cedar Fair from $56.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. 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 report on Wednesday, June 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.90.
Check Out Our Latest Analysis on FUN
Hedge Funds Weigh In On Cedar Fair
Cedar Fair Stock Up 2.4 %
The stock has a market cap of $2.74 billion, a P/E ratio of 21.58 and a beta of 1.53. The business has a 50-day simple moving average of $44.43 and a 200-day simple moving average of $41.80.
Cedar Fair (NYSE:FUN – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The business had revenue of $101.62 million during the quarter, compared to the consensus estimate of $91.97 million. On average, analysts predict that Cedar Fair, L.P. will post 3.47 earnings per share for the current fiscal year.
Cedar Fair Announces Dividend
The company also recently announced a Variable dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 28th were given a $1.53 dividend. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s dividend payout ratio (DPR) is currently 49.38%.
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.
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