Cedar Fair, L.P. (NYSE:FUN) Declares Quarterly Dividend of $0.30

Cedar Fair, L.P. (NYSE:FUN) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Wednesday, June 5th will be given a dividend of 0.30 per share on Wednesday, June 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Wednesday, June 5th.

Cedar Fair has increased its dividend by an average of 8.7% per year over the last three years.

Cedar Fair Stock Performance

NYSE FUN traded up $0.41 during trading hours on Friday, hitting $43.90. 271,051 shares of the company traded hands, compared to its average volume of 211,950. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 17.89 and a beta of 1.42. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $45.39. The business’s 50-day moving average is $40.77 and its 200-day moving average is $39.63.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The firm had revenue of $101.62 million for the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. Analysts predict that Cedar Fair will post 3.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on FUN shares. B. Riley reissued a “buy” rating and set a $52.00 target price (up previously from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Oppenheimer began coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They set an “outperform” rating and a $49.00 price target for the company. Stifel Nicolaus raised their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. KeyCorp upped their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Mizuho started coverage on shares of Cedar Fair in a research report on Tuesday, March 26th. They set a “buy” rating and a $56.00 price target for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $50.50.

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.