Cedar Fair (NYSE:FUN) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a research report report published on Wednesday. The firm issued a hold rating on the stock.

Several other research analysts have also issued reports on the company. Oppenheimer increased their price target on Cedar Fair from $49.00 to $67.00 and gave the stock an outperform rating in a report on Tuesday, July 2nd. Morgan Stanley increased their price target on Cedar Fair from $55.00 to $65.00 and gave the stock an overweight rating in a report on Monday, July 1st. Mizuho cut their price target on Cedar Fair from $56.00 to $55.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Truist Financial initiated coverage on Cedar Fair in a report on Tuesday. They issued a buy rating and a $62.00 price target on the stock. Finally, B. Riley increased their price target on Cedar Fair from $52.00 to $59.00 and gave the stock a buy rating in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $57.10.

Cedar Fair Price Performance

Shares of Cedar Fair stock opened at $53.52 on Wednesday. Cedar Fair has a one year low of $34.04 and a one year high of $58.70. The stock’s 50-day moving average is $46.88 and its 200 day moving average is $42.63. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 22.02 and a beta of 1.53.

Cedar Fair (NYSE:FUN) last announced its earnings results on Thursday, May 9th. The company reported ($2.47) EPS 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 for the quarter, compared to the consensus estimate of $91.97 million. On average, sell-side analysts expect that Cedar Fair will post 3.41 EPS for the current fiscal year.

Cedar Fair Announces Dividend

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

Institutional Trading of Cedar Fair

A number of institutional investors and hedge funds have recently modified their holdings of the business. Aurora Investment Counsel increased its position in shares of Cedar Fair by 1.7% during the first quarter. Aurora Investment Counsel now owns 15,077 shares of the company’s stock valued at $632,000 after acquiring an additional 253 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Cedar Fair by 10.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after acquiring an additional 562 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Cedar Fair by 10.9% during the first quarter. Cetera Advisors LLC now owns 6,881 shares of the company’s stock valued at $288,000 after acquiring an additional 675 shares during the last quarter. Finally, Sound Income Strategies LLC increased its position in shares of Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after acquiring an additional 852 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other 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.