Cedar Fair, L.P. (FUN) Receives Coverage Optimism Rating of 0.13
Headlines about Cedar Fair, L.P. (NYSE:FUN) have been trending somewhat positive recently, Accern reports. The research group rates the sentiment of press coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Cedar Fair, L.P. earned a news impact score of 0.13 on Accern’s scale. Accern also assigned news articles about the company an impact score of 45.3766966758914 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news articles that may have effected Accern’s rankings:
- This "Fun" Stock Just Posted Record Revenue and Raised Its Dividend (finance.yahoo.com)
- Carowinds Debuts All-New WinterFest Holiday Celebration (finance.yahoo.com)
- Insider Selling: Cedar Fair, L.P. (FUN) CEO Sells 4,000 Shares of Stock (americanbankingnews.com)
- Cedar Fair L P : Parks – Knott’s Berry Farm and Cedar Point – Honored with Prestigious Industry Awards (4-traders.com)
- Cedar Fair Parks – Knott’s Berry Farm and Cedar Point – Honored with Prestigious Industry Awards (finance.yahoo.com)
FUN has been the subject of a number of research analyst reports. KeyCorp restated a “buy” rating and issued a $74.00 target price on shares of Cedar Fair, L.P. in a research report on Tuesday, October 24th. Zacks Investment Research upgraded Cedar Fair, L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) downgraded Cedar Fair, L.P. from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price for the company. in a research report on Wednesday, October 4th. Stifel Nicolaus restated a “buy” rating and issued a $74.00 target price (down from $75.00) on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Finally, FBR & Co restated a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $74.38.
Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.56 by ($0.18). The company had revenue of $652.69 million during the quarter, compared to the consensus estimate of $652.98 million. Cedar Fair, L.P. had a net margin of 11.75% and a return on equity of 2,430.22%. Cedar Fair, L.P.’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $3.10 EPS. sell-side analysts predict that Cedar Fair, L.P. will post 3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be issued a $0.89 dividend. The ex-dividend date is Friday, December 1st. This represents a $3.56 annualized dividend and a dividend yield of 5.29%. This is a boost from Cedar Fair, L.P.’s previous quarterly dividend of $0.86. Cedar Fair, L.P.’s dividend payout ratio is currently 128.57%.
In other Cedar Fair, L.P. news, CEO Matthew A. Ouimet sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $66.40, for a total transaction of $265,600.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Matthew A. Ouimet sold 2,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $64.90, for a total transaction of $129,800.00. Following the sale, the chief executive officer now directly owns 193,199 shares in the company, valued at $12,538,615.10. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock worth $595,800 in the last ninety days. 2.00% of the stock is owned by corporate insiders.
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About Cedar Fair, L.P.
Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.
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