Cedar Fair (NYSE:FUN) Now Covered by StockNews.com

StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued to investors on Thursday. The firm issued a buy rating on the stock.

Several other analysts also recently issued reports on FUN. B. Riley reiterated a buy rating and issued a $52.00 price target (up from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Stifel Nicolaus increased their target price on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a research note on Friday, February 16th. KeyCorp upped their price target on Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a report on Friday, February 16th. Mizuho dropped their price objective on shares of Cedar Fair from $56.00 to $55.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Finally, 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 on the stock. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus target price of $50.40.

Cedar Fair Price Performance

Cedar Fair stock opened at $43.83 on Thursday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 18.04 and a beta of 1.42. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.76. The stock’s 50-day moving average is $41.08 and its 200-day moving average is $40.28.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The business had revenue of $101.62 million during the quarter, compared to analysts’ expectations of $91.97 million. Research analysts anticipate that Cedar Fair will post 3.47 EPS for the current year.

Cedar Fair Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, June 5th. Cedar Fair’s dividend payout ratio is currently 49.38%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of Cedar Fair by 15.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after acquiring an additional 539,352 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cedar Fair by 50.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock worth $124,718,000 after buying an additional 1,130,439 shares during the last quarter. UBS Group AG boosted its holdings in shares of Cedar Fair by 313.7% in the 4th quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after buying an additional 2,310,565 shares during the period. Barclays PLC grew its position in shares of Cedar Fair by 67.6% during the 3rd quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after buying an additional 930,021 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Cedar Fair during the 3rd quarter valued at about $25,215,000. Institutional investors own 64.65% of the company’s stock.

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.