Cedar Fair (NYSE:FUN) Now Covered by StockNews.com

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

Several other research firms also recently commented on FUN. Stifel Nicolaus reissued a buy rating and issued a $68.00 target price (up from $53.00) on shares of Cedar Fair in a report on Friday, July 12th. B. Riley boosted their target price on Cedar Fair from $52.00 to $59.00 and gave the stock a buy rating in a report on Wednesday, June 12th. Oppenheimer boosted their target price on Cedar Fair from $49.00 to $67.00 and gave the stock an outperform rating in a report on Tuesday, July 2nd. The Goldman Sachs Group reaffirmed a neutral rating and set a $63.00 price target on shares of Cedar Fair in a report on Wednesday, July 10th. Finally, Mizuho reduced their price objective on Cedar Fair from $56.00 to $55.00 and set a buy rating for the company in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $59.18.

Cedar Fair Price Performance

Shares of Cedar Fair stock opened at $45.08 on Friday. Cedar Fair has a one year low of $34.04 and a one year high of $58.70. The stock has a market capitalization of $2.31 billion, a P/E ratio of 18.55 and a beta of 1.54. The business’s 50 day simple moving average is $49.12 and its two-hundred day simple moving average is $43.99.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) 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 analysts’ expectations of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. Sell-side analysts expect that Cedar Fair will post 3.63 earnings per share for the current fiscal year.

Cedar Fair Announces Dividend

The firm also recently announced a Variable dividend, which was paid on Monday, July 1st. Investors 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 dividend payout ratio (DPR) is presently 49.38%.

Hedge Funds Weigh In On Cedar Fair

Several institutional investors have recently added to or reduced their stakes in FUN. Tower Research Capital LLC TRC grew its holdings in Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after buying an additional 562 shares in the last quarter. CWM LLC boosted its holdings in shares of Cedar Fair by 932.0% in the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after purchasing an additional 1,864 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after purchasing an additional 300 shares during the period. Brookstone Capital Management purchased a new position in shares of Cedar Fair in the 2nd quarter worth approximately $215,000. Finally, Thrive Wealth Management LLC purchased a new position in shares of Cedar Fair in the 2nd quarter worth approximately $252,000. Hedge funds and other institutional investors 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.