Cedar Fair (NYSE:FUN) Sets New 1-Year High at $57.19

Cedar Fair, L.P. (NYSE:FUN) shares hit a new 52-week high during trading on Friday . The stock traded as high as $57.19 and last traded at $56.96, with a volume of 254731 shares. The stock had previously closed at $56.75.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FUN shares. Truist Financial lifted their target price on Cedar Fair from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Morgan Stanley lifted their target price on Cedar Fair from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday. B. Riley boosted their price objective on Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. StockNews.com began coverage on Cedar Fair in a research report on Tuesday. They set a “hold” rating for the company. Finally, Oppenheimer boosted their price objective on Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.90.

Cedar Fair Stock Performance

The firm has a 50 day simple moving average of $45.50 and a two-hundred day simple moving average of $42.12. The stock has a market cap of $2.86 billion, a P/E ratio of 23.35 and a beta of 1.53.

Cedar Fair (NYSE:FUN) last announced its earnings results 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). The business had revenue of $101.62 million for the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. As a group, equities research analysts predict that Cedar Fair, L.P. will post 3.41 EPS for the current year.

Cedar Fair Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were paid a dividend of $1.53 per share. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s payout ratio is currently 49.38%.

Institutional Trading of Cedar Fair

A number of hedge funds and other institutional investors have recently modified their holdings of the company. HM Payson & Co. bought a new stake in shares of Cedar Fair in the 1st quarter worth $332,000. Aurora Investment Counsel raised its stake in shares of Cedar Fair by 1.7% in the 1st quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock worth $632,000 after buying an additional 253 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of 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 buying an additional 675 shares in the last quarter. HAP Trading LLC bought a new stake in shares of Cedar Fair in the 1st quarter worth $1,329,000. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of Cedar Fair by 121.9% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 24,268 shares of the company’s stock worth $1,017,000 after buying an additional 13,332 shares in the last quarter. Institutional investors own 64.65% of the company’s stock.

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.