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

StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a research report sent to investors on Wednesday morning. The brokerage issued a hold rating on the stock.

A number of other brokerages also recently weighed in on FUN. JPMorgan Chase & Co. began coverage on Cedar Fair in a report on Tuesday, August 6th. They issued an underweight rating and a $50.00 target price for the company. Macquarie lowered their price objective on shares of Cedar Fair from $64.00 to $60.00 and set an outperform rating for the company in a research note on Friday, August 9th. Morgan Stanley boosted their target price on shares of Cedar Fair from $55.00 to $65.00 and gave the company an overweight rating in a research report on Monday, July 1st. Stifel Nicolaus reduced their price target on shares of Cedar Fair from $68.00 to $60.00 and set a buy rating for the company in a report on Friday, August 9th. Finally, Mizuho dropped their price objective on shares of Cedar Fair from $55.00 to $52.00 and set an outperform rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Cedar Fair has a consensus rating of Moderate Buy and a consensus price target of $58.82.

Cedar Fair Stock Performance

NYSE:FUN opened at $44.09 on Wednesday. The firm’s fifty day moving average is $47.98 and its 200-day moving average is $44.41. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70. The firm has a market cap of $2.26 billion, a P/E ratio of 18.14 and a beta of 1.54.

Cedar Fair (NYSE:FUN) last released its earnings results on Thursday, August 8th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. Cedar Fair had a net margin of 6.80% and a negative return on equity of 23.97%. The business had revenue of $571.62 million for the quarter, compared to analyst estimates of $525.57 million. As a group, sell-side analysts anticipate that Cedar Fair will post 2.78 earnings per share for the current year.

Cedar Fair Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FUN. Goldman Sachs Group Inc. raised its position in Cedar Fair by 15.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after buying an additional 539,352 shares during the last quarter. UBS Group AG raised its holdings in shares of Cedar Fair by 313.7% in the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after purchasing an additional 2,310,565 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Cedar Fair by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after purchasing an additional 1,000 shares in the last quarter. Torno Capital LLC purchased a new position in Cedar Fair during the second quarter worth about $4,413,000. Finally, HAP Trading LLC bought a new stake in Cedar Fair in the 1st quarter worth about $1,329,000. 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.