Cedar Fair, L.P. (NYSE:FUN) – Equities researchers at KeyCorp reduced their Q3 2016 earnings estimates for shares of Cedar Fair, L.P. in a research report issued on Sunday. KeyCorp analyst S. Hamann now expects that the brokerage will post earnings per share of $3.37 for the quarter, down from their previous estimate of $3.46.
Several other equities analysts have also recently weighed in on FUN. FBR & Co boosted their price objective on Cedar Fair, L.P. to $68.00 and gave the stock an “outperform” rating in a research report on Monday, July 18th. Wedbush cut Cedar Fair, L.P. from an “outperform” rating to a “neutral” rating in a research report on Friday, September 23rd. Macquarie raised Cedar Fair, L.P. from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $65.00 in a research report on Friday, July 8th. Zacks Investment Research cut Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Credit Suisse Group AG set a $67.00 price objective on Cedar Fair, L.P. and gave the stock a “buy” rating in a research report on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $64.83.
Shares of Cedar Fair, L.P. (NYSE:FUN) opened at 57.37 on Tuesday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 22.00 and a beta of 0.72. The firm’s 50-day moving average price is $58.53 and its 200-day moving average price is $58.88. Cedar Fair, L.P. has a 52 week low of $48.46 and a 52 week high of $63.40.
Cedar Fair, L.P. (NYSE:FUN) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by $0.04. The business earned $388 million during the quarter, compared to analysts’ expectations of $390.43 million. During the same period in the previous year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, September 6th were paid a dividend of $0.825 per share. The ex-dividend date was Thursday, September 1st. This represents a $3.30 annualized dividend and a yield of 5.75%.
In other news, CAO David R. Hoffman sold 7,043 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $60.63, for a total value of $427,017.09. Following the sale, the chief accounting officer now directly owns 36,611 shares in the company, valued at approximately $2,219,724.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Milkie Duffield sold 6,374 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 56,550 shares in the company, valued at $3,440,502. The disclosure for this sale can be found here.
Large investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P bought a new stake in Cedar Fair, L.P. during the first quarter valued at $172,000. Raymond James Trust N.A. bought a new stake in Cedar Fair, L.P. during the third quarter valued at $204,000. BB&T Securities LLC bought a new stake in Cedar Fair, L.P. during the first quarter valued at $205,000. Concert Wealth Management Inc. bought a new stake in Cedar Fair, L.P. during the second quarter valued at $216,000. Finally, Huntington National Bank raised its stake in Cedar Fair, L.P. by 1.7% in the second quarter. Huntington National Bank now owns 3,745 shares of the company’s stock valued at $217,000 after buying an additional 62 shares in the last quarter.
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.
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