Credit Suisse Group AG restated their buy rating on shares of Cedar Fair, L.P. (NYSE:FUN) in a report published on Tuesday morning. Credit Suisse Group AG currently has a $67.00 price objective on the stock.
Several other equities analysts have also issued reports on FUN. Zacks Investment Research lowered Cedar Fair, L.P. from a buy rating to a hold rating in a research note on Friday, July 1st. Wedbush lowered Cedar Fair, L.P. from an outperform rating to a neutral rating in a research note on Friday, September 23rd. FBR & Co reissued a buy rating on shares of Cedar Fair, L.P. in a research note on Thursday, September 8th. Janney Montgomery Scott reissued a buy rating and set a $69.00 target price on shares of Cedar Fair, L.P. in a research note on Wednesday, July 6th. Finally, Macquarie raised Cedar Fair, L.P. from a neutral rating to an outperform rating and increased their target price for the stock from $60.00 to $65.00 in a research note on Friday, July 8th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Cedar Fair, L.P. currently has a consensus rating of Buy and a consensus target price of $64.83.
Shares of Cedar Fair, L.P. (NYSE:FUN) opened at 58.01 on Tuesday. The firm has a market cap of $3.25 billion, a P/E ratio of 22.24 and a beta of 0.72. Cedar Fair, L.P. has a one year low of $48.46 and a one year high of $63.40. The firm has a 50-day moving average price of $58.53 and a 200 day moving average price of $58.89.
Cedar Fair, L.P. (NYSE:FUN) last posted its earnings results on Wednesday, August 3rd. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The company earned $388 million during the quarter, compared to analysts’ expectations of $390.43 million. During the same quarter last year, the firm posted $1.02 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Cedar Fair, L.P. will post $3.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Tuesday, September 6th were issued a $0.825 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $3.30 dividend on an annualized basis and a dividend yield of 5.69%.
In other news, CAO David R. Hoffman sold 7,043 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $60.63, for a total value of $427,017.09. Following the transaction, the chief accounting officer now owns 36,611 shares in the company, valued at approximately $2,219,724.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Milkie Duffield sold 6,374 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $60.84, for a total value of $387,794.16. Following the completion of the transaction, the vice president now owns 56,550 shares in the company, valued at approximately $3,440,502. The disclosure for this sale can be found here.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Naples Global Advisors LLC increased its position in Cedar Fair, L.P. by 50.5% in the second quarter. Naples Global Advisors LLC now owns 14,105 shares of the company’s stock worth $816,000 after buying an additional 4,730 shares during the last quarter. First Republic Investment Management Inc. increased its position in Cedar Fair, L.P. by 31.4% in the first quarter. First Republic Investment Management Inc. now owns 9,461 shares of the company’s stock worth $562,000 after buying an additional 2,260 shares during the last quarter. Royal Bank of Canada increased its position in Cedar Fair, L.P. by 5.1% in the first quarter. Royal Bank of Canada now owns 921,305 shares of the company’s stock worth $54,773,000 after buying an additional 44,427 shares during the last quarter. Renaissance Technologies LLC increased its position in Cedar Fair, L.P. by 38.7% in the first quarter. Renaissance Technologies LLC now owns 303,150 shares of the company’s stock worth $18,022,000 after buying an additional 84,600 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in Cedar Fair, L.P. during the first quarter worth approximately $172,000.
Cedar Fair, L.P. Company Profile
Cedar Fair, L.P. is an operator of regional amusement parks. The Company owns approximately 10 amusement parks, three outdoor water parks, an indoor water park and five hotels. The Company operates through amusement/water parks with accompanying resort facilities segment. Its amusement parks include Cedar Point, located on Lake Erie between Cleveland and Toledo in Sandusky, Ohio; Kings Island near Cincinnati, Ohio; Canada’s Wonderland near Toronto, Canada; Dorney Park & Wildwater Kingdom (Dorney Park), located near Allentown in South Whitehall Township, Pennsylvania; Valleyfair, located near Minneapolis/St.
Receive News & Ratings for Cedar Fair L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Fair L.P. and related companies with MarketBeat.com's FREE daily email newsletter.