Cedar Fair, L.P. (NYSE:FUN) – Equities researchers at SunTrust Banks cut their Q1 2018 earnings estimates for Cedar Fair in a report issued on Wednesday, according to Zacks Investment Research. SunTrust Banks analyst M. Swartz now forecasts that the company will earn ($1.39) per share for the quarter, down from their previous estimate of ($1.19). SunTrust Banks also issued estimates for Cedar Fair’s Q2 2018 earnings at $1.01 EPS, FY2018 earnings at $3.59 EPS and FY2019 earnings at $3.91 EPS.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.81. Cedar Fair had a net margin of 16.30% and a return on equity of 1,855.11%. The company had revenue of $228.20 million during the quarter, compared to the consensus estimate of $222.34 million. During the same period in the previous year, the firm posted ($0.12) EPS. The firm’s revenue was up 18.9% compared to the same quarter last year.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a report on Thursday, January 18th. Stifel Nicolaus boosted their price target on shares of Cedar Fair from $74.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, KeyCorp set a $77.00 price target on shares of Cedar Fair and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $75.20.
Cedar Fair (NYSE FUN) traded up $0.64 during midday trading on Monday, hitting $64.90. 125,674 shares of the stock were exchanged, compared to its average volume of 119,867. Cedar Fair has a 52 week low of $59.66 and a 52 week high of $72.56. The company has a debt-to-equity ratio of 20.02, a current ratio of 1.10 and a quick ratio of 0.96. The company has a market cap of $3,660.00, a P/E ratio of 22.23, a P/E/G ratio of 3.09 and a beta of 0.46.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Friday, March 9th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Thursday, March 8th. Cedar Fair’s dividend payout ratio is presently 121.92%.
In other Cedar Fair news, insider Matthew A. Ouimet sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $64.69, for a total value of $129,380.00. Following the completion of the sale, the insider now directly owns 243,057 shares of the company’s stock, valued at $15,723,357.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew A. Ouimet sold 6,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $67.91, for a total transaction of $407,460.00. Following the completion of the sale, the chief executive officer now directly owns 215,353 shares of the company’s stock, valued at $14,624,622.23. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $807,000 over the last three months. 2.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in FUN. Ffcm LLC purchased a new position in shares of Cedar Fair in the third quarter valued at about $109,000. Advisory Services Network LLC increased its position in shares of Cedar Fair by 10.7% in the second quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock valued at $120,000 after acquiring an additional 160 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Cedar Fair by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock valued at $124,000 after acquiring an additional 108 shares during the period. Santori & Peters Inc. purchased a new position in shares of Cedar Fair in the fourth quarter valued at about $210,000. Finally, Clarus Wealth Advisors purchased a new position in shares of Cedar Fair in the fourth quarter valued at about $213,000. Hedge funds and other institutional investors own 50.35% of the company’s stock.
About Cedar Fair
Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.
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