Cedar Fair (NYSE:FUN - Free Report) had its price target lowered by Mizuho from $56.00 to $55.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other research firms have also recently commented on FUN. KeyCorp increased their target price on Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a research note on Friday, February 16th. StockNews.com started coverage on Cedar Fair in a research report on Wednesday. They set a buy rating on the stock. Oppenheimer started coverage on Cedar Fair in a research report on Thursday, February 8th. They set an outperform rating and a $49.00 price objective for the company. Stifel Nicolaus boosted their price target on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, B. Riley reiterated a buy rating and issued a $52.00 price objective (up previously from $50.00) on shares of Cedar Fair in a research note on Friday, February 16th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $50.40.
Read Our Latest Research Report on Cedar Fair
Cedar Fair Stock Down 0.8 %
Shares of NYSE:FUN traded down $0.34 during trading on Wednesday, hitting $44.41. The stock had a trading volume of 295,030 shares, compared to its average volume of 217,231. The company has a market capitalization of $2.28 billion, a PE ratio of 18.25 and a beta of 1.42. The firm's fifty day moving average is $40.91 and its 200 day moving average is $39.90. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.76.
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). The firm had revenue of $101.62 million for the quarter, compared to analysts' expectations of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. Equities research analysts expect that Cedar Fair will post 3.39 EPS for the current fiscal year.
Cedar Fair Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Wednesday, June 5th. Cedar Fair's dividend payout ratio is presently 49.38%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Cedar Fair by 201.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company's stock worth $33,000 after purchasing an additional 562 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of Cedar Fair by 44.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,771 shares of the company's stock worth $110,000 after acquiring an additional 852 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company's stock valued at $131,000 after purchasing an additional 300 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new stake in shares of Cedar Fair during the 1st quarter worth about $257,000. Finally, Saxon Interests Inc. acquired a new position in shares of Cedar Fair in the 4th quarter worth approximately $308,000. Institutional investors own 64.65% of the company's stock.
Cedar Fair Company Profile
(
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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.
Further Reading
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