Cedar Fair, L.P. Announces Quarterly Dividend of $0.30 (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN - Get Free Report) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders of record on Wednesday, June 5th will be paid a dividend of 0.30 per share on Wednesday, June 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, June 5th.

Cedar Fair has increased its dividend payment by an average of 8.7% annually over the last three years.

Cedar Fair Stock Performance

NYSE:FUN traded up $1.11 during trading hours on Friday, hitting $44.60. The company's stock had a trading volume of 519,907 shares, compared to its average volume of 214,765. The company has a market capitalization of $2.29 billion, a PE ratio of 17.92 and a beta of 1.42. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $45.39. The business's 50-day moving average is $40.77 and its two-hundred day moving average is $39.63.

Cedar Fair (NYSE:FUN - Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The company had revenue of $101.62 million during the quarter, compared to analyst estimates of $91.97 million. As a group, analysts predict that Cedar Fair will post 3.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FUN has been the topic of several research reports. Truist Financial increased their price target on shares of Cedar Fair from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday. Oppenheimer assumed coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They issued an "outperform" rating and a $49.00 target price for the company. B. Riley reissued a "buy" rating and set a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Mizuho assumed coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They issued a "buy" rating and a $56.00 target price for the company. Finally, Stifel Nicolaus raised their price objective on Cedar Fair from $49.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $50.50.

About Cedar Fair

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.