Cedar Fair, L.P. owns and operates amusement and water parks, and complementary resort facilities in the United States and Canada. 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. Paul, Minnesota; Michigan's Adventure situated near Muskegon, Michigan; Schlitterbahn Waterpark & Resort New Braunfels in New Braunfels, Texas; and Schlitterbahn Waterpark Galveston in Galveston, Texas. The company also owns and operates the Castaway Bay Indoor Waterpark Resort, Hotel Breakers, Cedar Point's Express Hotel, and Sawmill Creek Resort. As of December 31, 2021, the company operated 13 amusement parks. The company was founded in 1983 and is headquartered in Sandusky, Ohio.
Cedar Fair Stock Up 1.9 %
NYSE:FUN opened at $44.47 on Friday. The company's 50 day moving average is $42.77 and its 200-day moving average is $49.59. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 30.67 and a beta of 1.70. Cedar Fair has a 12 month low of $37.78 and a 12 month high of $62.56.
Cedar Fair Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Tuesday, August 30th.
Analyst Ratings Changes
Several equities analysts have recently commented on FUN shares. Citigroup lowered their price target on shares of Cedar Fair from $67.00 to $55.00 and set a "buy" rating on the stock in a report on Friday, July 8th. Rosenblatt Securities cut their price target on Cedar Fair from $51.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, August 4th. StockNews.com raised Cedar Fair from a "hold" rating to a "buy" rating in a research note on Friday, August 5th. Truist Financial cut their price objective on shares of Cedar Fair from $67.00 to $58.00 in a research report on Thursday, August 4th. Finally, Credit Suisse Group decreased their target price on shares of Cedar Fair from $89.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, August 4th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $58.88.