Cedar Fair, L.P. (NYSE:FUN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued a report on the stock in the last year is $50.30.

FUN has been the topic of several research reports. StockNews.com initiated coverage on Cedar Fair in a research report on Sunday, April 21st. They issued a “buy” rating on the stock. Stifel Nicolaus upped their target price on Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Mizuho initiated coverage on Cedar Fair in a research report on Tuesday, March 26th. They issued a “buy” rating and a $56.00 target price on the stock. Truist Financial upped their target price on Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, KeyCorp increased their price target on Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th.

Institutional Investors Weigh In On Cedar Fair

Several institutional investors and hedge funds have recently added to or reduced their stakes in FUN. Patriot Financial Group Insurance Agency LLC bought a new stake in Cedar Fair during the third quarter worth $206,000. Raymond James & Associates lifted its stake in Cedar Fair by 1.5% during the third quarter. Raymond James & Associates now owns 27,960 shares of the company’s stock worth $1,035,000 after purchasing an additional 405 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Cedar Fair by 2.3% during the third quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company’s stock worth $580,000 after purchasing an additional 353 shares during the last quarter. Brown Advisory Inc. lifted its stake in Cedar Fair by 8.2% during the third quarter. Brown Advisory Inc. now owns 93,486 shares of the company’s stock worth $3,459,000 after purchasing an additional 7,100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. lifted its stake in Cedar Fair by 26.4% during the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock worth $6,341,000 after purchasing an additional 35,818 shares during the last quarter. 64.65% of the stock is currently owned by institutional investors.

Cedar Fair Stock Down 0.8 %

Shares of NYSE FUN opened at $37.90 on Friday. The business’s 50 day moving average price is $41.03 and its two-hundred day moving average price is $39.38. The company has a market cap of $1.93 billion, a PE ratio of 15.47 and a beta of 1.41. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $45.39.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The firm had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. As a group, research analysts anticipate that Cedar Fair will post 3.27 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s payout ratio is presently 48.98%.

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.