Analysts Anticipate Cedar Fair, L.P. (NYSE:FUN) to Post $2.19 EPS

Equities analysts predict that Cedar Fair, L.P. (NYSE:FUN) will report earnings per share of $2.19 for the current quarter, according to Zacks. Five analysts have made estimates for Cedar Fair’s earnings. The highest EPS estimate is $3.30 and the lowest is $1.47. Cedar Fair posted earnings of ($2.12) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 203.3%. The business is expected to issue its next earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that Cedar Fair will report full-year earnings of ($1.25) per share for the current financial year, with EPS estimates ranging from ($2.26) to $0.15. For the next fiscal year, analysts anticipate that the company will post earnings of $2.90 per share, with EPS estimates ranging from $2.30 to $3.92. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Cedar Fair.

Cedar Fair (NYSE:FUN) last issued its earnings results on Wednesday, August 4th. The company reported ($1.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.45) by $0.41. The company had revenue of $244.00 million during the quarter, compared to analyst estimates of $211.79 million. The business’s revenue was up 3597.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.35) earnings per share.

A number of research analysts have recently weighed in on FUN shares. Zacks Investment Research upgraded Cedar Fair from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Wednesday, August 4th. Credit Suisse Group lifted their price objective on Cedar Fair from $69.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $57.13.

Shares of NYSE FUN traded down $0.12 during mid-day trading on Friday, reaching $43.88. The company had a trading volume of 646 shares, compared to its average volume of 449,098. The stock has a market cap of $2.49 billion, a PE ratio of -6.05 and a beta of 2.30. The company has a 50-day moving average price of $43.72 and a two-hundred day moving average price of $46.40. Cedar Fair has a 1-year low of $24.48 and a 1-year high of $52.50.

Institutional investors and hedge funds have recently modified their holdings of the stock. WealthShield Partners LLC grew its stake in shares of Cedar Fair by 188.0% in the 2nd quarter. WealthShield Partners LLC now owns 576 shares of the company’s stock valued at $26,000 after purchasing an additional 376 shares during the period. Parallel Advisors LLC acquired a new position in shares of Cedar Fair in the 2nd quarter worth approximately $34,000. Samalin Investment Counsel LLC acquired a new position in shares of Cedar Fair in the 2nd quarter worth approximately $36,000. Meeder Asset Management Inc. boosted its holdings in shares of Cedar Fair by 289.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,118 shares of the company’s stock worth $50,000 after acquiring an additional 831 shares in the last quarter. Finally, Alaethes Wealth LLC acquired a new position in shares of Cedar Fair in the 2nd quarter worth approximately $67,000. Hedge funds and other institutional investors own 57.90% of the company’s stock.

Cedar Fair Company Profile

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.

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Earnings History and Estimates for Cedar Fair (NYSE:FUN)

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