Analysts expect that Cedar Fair, L.P. (NYSE:FUN) will report $421.16 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Cedar Fair’s earnings, with the highest sales estimate coming in at $435.70 million and the lowest estimate coming in at $405.00 million. Cedar Fair reported sales of $380.32 million in the same quarter last year, which indicates a positive year over year growth rate of 10.7%. The company is scheduled to announce its next earnings report before the market opens on Wednesday, August 7th.
On average, analysts expect that Cedar Fair will report full-year sales of $1.40 billion for the current financial year, with estimates ranging from $1.39 billion to $1.41 billion. For the next year, analysts expect that the firm will post sales of $1.45 billion, with estimates ranging from $1.44 billion to $1.45 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Cedar Fair.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($1.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.47) by $0.01. Cedar Fair had a net margin of 9.29% and a negative return on equity of 1,151.68%. The business had revenue of $67.00 million during the quarter, compared to the consensus estimate of $55.14 million. During the same period in the previous year, the firm posted ($1.49) earnings per share. The business’s revenue for the quarter was up 22.5% compared to the same quarter last year.
FUN has been the subject of several research reports. TheStreet upgraded shares of Patrick Industries from a “c+” rating to a “b-” rating in a research note on Monday, March 18th. ValuEngine downgraded shares of Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. B. Riley set a $18.00 price objective on shares of TiVo and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Cedar Fair presently has an average rating of “Buy” and an average price target of $59.83.
Shares of NYSE:FUN traded up $0.24 on Friday, hitting $50.24. 299,991 shares of the company were exchanged, compared to its average volume of 260,633. Cedar Fair has a 1-year low of $45.58 and a 1-year high of $61.14. The stock has a 50 day moving average price of $49.27. The company has a debt-to-equity ratio of 51.13, a current ratio of 0.63 and a quick ratio of 0.49. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 2.20 and a beta of 0.51.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Tuesday, June 4th were given a dividend of $0.925 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $3.70 dividend on an annualized basis and a yield of 7.36%. Cedar Fair’s dividend payout ratio is presently 122.52%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC raised its position in shares of Cedar Fair by 66.7% in the first quarter. Capital Investment Advisory Services LLC now owns 500 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares during the period. Synovus Financial Corp purchased a new stake in shares of Cedar Fair during the first quarter worth about $32,000. Trustcore Financial Services LLC purchased a new stake in shares of Cedar Fair during the first quarter worth about $34,000. Horan Capital Advisors LLC. purchased a new stake in shares of Cedar Fair during the first quarter worth about $37,000. Finally, PRW Wealth Management LLC purchased a new stake in shares of Cedar Fair during the fourth quarter worth about $34,000. Institutional investors own 51.67% of the company’s stock.
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.
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