Equities analysts expect Cedar Fair, L.P. (NYSE:FUN) to post earnings per share (EPS) of $0.92 for the current quarter, Zacks reports. Seven analysts have made estimates for Cedar Fair’s earnings. The lowest EPS estimate is $0.66 and the highest is $1.22. Cedar Fair posted earnings per share of $0.39 in the same quarter last year, which would indicate a positive year over year growth rate of 135.9%. The firm is scheduled to announce its next earnings report on Wednesday, August 7th.
On average, analysts expect that Cedar Fair will report full-year earnings of $3.30 per share for the current year, with EPS estimates ranging from $3.15 to $3.43. For the next fiscal year, analysts forecast that the company will report earnings of $3.46 per share, with EPS estimates ranging from $3.36 to $3.60. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow Cedar Fair.
Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($1.46) EPS for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. The business had revenue of $67.00 million during the quarter, compared to the consensus estimate of $55.14 million. Cedar Fair had a negative return on equity of 1,151.68% and a net margin of 9.29%. The firm’s revenue was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.49) earnings per share.
A number of equities research analysts recently commented on FUN shares. Zacks Investment Research downgraded Cedar Fair from a “strong-buy” rating to a “hold” rating in a report on Monday, February 18th. TheStreet cut Cedar Fair from a “b-” rating to a “c” rating in a research note on Monday, March 18th. B. Riley decreased their target price on Cedar Fair from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Finally, ValuEngine cut Cedar Fair from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $60.83.
NYSE FUN traded down $0.08 on Monday, reaching $49.39. The company had a trading volume of 1,428 shares, compared to its average volume of 227,633. The company has a market capitalization of $2.80 billion, a PE ratio of 16.46, a P/E/G ratio of 2.14 and a beta of 0.59. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 51.13. Cedar Fair has a 52 week low of $45.73 and a 52 week high of $66.67.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.925 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $3.70 annualized dividend and a dividend yield of 7.49%. Cedar Fair’s dividend payout ratio is currently 122.52%.
Hedge funds have recently bought and sold shares of the company. Trustcore Financial Services LLC acquired a new position in shares of Cedar Fair during the first quarter worth about $34,000. Sheets Smith Wealth Management boosted its position in shares of Cedar Fair by 10.9% during the first quarter. Sheets Smith Wealth Management now owns 8,925 shares of the company’s stock worth $470,000 after buying an additional 875 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Cedar Fair by 2.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,903 shares of the company’s stock worth $1,047,000 after buying an additional 505 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Cedar Fair during the fourth quarter worth about $365,000. Finally, Truehand Inc acquired a new position in shares of Cedar Fair during the fourth quarter worth about $1,357,000. 51.67% of the stock is owned by institutional investors.
Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
Featured Story: Call Option
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cedar Fair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Fair and related companies with MarketBeat.com's FREE daily email newsletter.