Q1 2024 EPS Estimates for Cedar Fair, L.P. (NYSE:FUN) Lowered by B. Riley

Cedar Fair, L.P. (NYSE:FUN) – Research analysts at B. Riley dropped their Q1 2024 earnings per share (EPS) estimates for Cedar Fair in a report issued on Thursday, April 18th. B. Riley analyst E. Wold now anticipates that the company will post earnings per share of ($2.43) for the quarter, down from their previous forecast of ($2.30). B. Riley currently has a “Buy” rating and a $52.00 target price on the stock. The consensus estimate for Cedar Fair’s current full-year earnings is $3.27 per share. B. Riley also issued estimates for Cedar Fair’s Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $4.08 EPS, Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at ($2.18) EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $4.33 EPS and Q4 2025 earnings at $0.25 EPS.

Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%.

Several other analysts have also recently issued reports on the company. KeyCorp increased their price objective on Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Mizuho started coverage on Cedar Fair in a research note on Tuesday, March 26th. They issued a “buy” rating and a $56.00 price objective on the stock. Oppenheimer started coverage on Cedar Fair in a research note on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price target on the stock. Truist Financial raised their price target on Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, StockNews.com started coverage on Cedar Fair in a research note on Sunday. They issued a “buy” rating on the stock. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $50.30.

Cedar Fair Trading Up 0.6 %

Shares of NYSE FUN opened at $38.63 on Monday. The stock has a market cap of $1.97 billion, a P/E ratio of 15.77 and a beta of 1.41. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $45.39. The business’s fifty day simple moving average is $41.09 and its 200-day simple moving average is $39.38.

Institutional Trading of Cedar Fair

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of 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 purchasing an additional 562 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after buying an additional 852 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Cedar Fair by 10.0% during the fourth 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 last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Cedar Fair during the third quarter worth about $206,000. Finally, Saxon Interests Inc. purchased a new position in shares of Cedar Fair during the fourth quarter worth about $308,000. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is currently 48.98%.

Cedar Fair Company Profile

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.