StockNews.com initiated coverage on shares of Cedar Fair (NYSE:FUN - Free Report) in a report published on Tuesday. The brokerage issued a buy rating on the stock.
FUN has been the topic of a number of other reports. Oppenheimer began coverage on shares of Cedar Fair in a research report on Thursday, February 8th. They set an outperform rating and a $49.00 price objective on the stock. B. Riley reiterated a buy rating and set a $52.00 target price (up from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Truist Financial reduced their price target on shares of Cedar Fair from $48.00 to $45.00 and set a buy rating on the stock in a research report on Friday. KeyCorp boosted their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a research note on Friday, February 16th. Finally, Mizuho initiated coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They set a buy rating and a $56.00 price target for the company. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average target price of $50.00.
Read Our Latest Stock Analysis on FUN
Cedar Fair Stock Performance
Shares of NYSE FUN remained flat at $40.35 during midday trading on Tuesday. 76,591 shares of the stock traded hands, compared to its average volume of 204,216. The business has a fifty day simple moving average of $40.70 and a two-hundred day simple moving average of $39.56. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 16.49 and a beta of 1.42. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $45.39.
Cedar Fair (NYSE:FUN - Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.08). Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. The company had revenue of $371.12 million for the quarter, compared to the consensus estimate of $365.13 million. On average, equities research analysts forecast that Cedar Fair will post 3.23 EPS for the current year.
Cedar Fair Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 annualized dividend and a dividend yield of 2.97%. Cedar Fair's dividend payout ratio is currently 48.98%.
Institutional Trading of Cedar Fair
A number of hedge funds and other institutional investors have recently bought and sold shares of FUN. Raymond James & Associates increased its stake in Cedar Fair by 1.5% during the 3rd quarter. Raymond James & Associates now owns 27,960 shares of the company's stock valued at $1,035,000 after purchasing an additional 405 shares in the last quarter. Stratos Wealth Partners LTD. boosted its holdings in Cedar Fair by 2.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company's stock worth $580,000 after acquiring an additional 353 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Cedar Fair by 8.2% during the 3rd quarter. Brown Advisory Inc. now owns 93,486 shares of the company's stock worth $3,459,000 after acquiring an additional 7,100 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its holdings in Cedar Fair by 26.4% during the 3rd quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company's stock worth $6,341,000 after acquiring an additional 35,818 shares during the last quarter. Finally, Citadel Investment Advisory Inc. boosted its holdings in Cedar Fair by 29.8% during the 3rd quarter. Citadel Investment Advisory Inc. now owns 17,875 shares of the company's stock worth $661,000 after acquiring an additional 4,100 shares during the last quarter. Institutional investors own 64.65% of the company's stock.
Cedar Fair Company Profile
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Get Free Report)
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.
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