Cedar Fair (NYSE:FUN) Research Coverage Started at StockNews.com

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

Other equities research analysts also recently issued research reports about the company. KeyCorp raised their price objective on Cedar Fair from $49.00 to $52.00 and gave the company an overweight rating in a report on Friday, February 16th. B. Riley reiterated a buy rating and issued a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Truist Financial boosted their target price on shares of Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a report on Friday, February 16th. Oppenheimer started coverage on shares of Cedar Fair in a report on Thursday, February 8th. They set an outperform rating and a $49.00 price target on the stock. Finally, Stifel Nicolaus raised their target price on Cedar Fair from $49.00 to $52.00 and gave the stock a buy rating in a research report on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $50.30.

Cedar Fair Stock Performance

Cedar Fair stock opened at $38.63 on Friday. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $45.39. The stock has a market capitalization of $1.97 billion, a P/E ratio of 15.77 and a beta of 1.41. The stock has a fifty day moving average of $41.09 and a 200-day moving average of $39.38.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. On average, research analysts forecast that Cedar Fair will post 3.27 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Trading of Cedar Fair

Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its stake in Cedar Fair by 201.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock worth $33,000 after acquiring an additional 562 shares in the last quarter. Sound Income Strategies LLC increased its position in 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 buying an additional 852 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after buying an additional 300 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in Cedar Fair in the third quarter worth approximately $206,000. Finally, Saxon Interests Inc. bought a new stake in shares of Cedar Fair during the fourth quarter valued at approximately $308,000. Institutional investors and hedge funds 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.