Cedar Fair (NYSE:FUN) Earns “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of Cedar Fair (NYSE:FUN) in a research note published on Friday morning, MarketBeat.com reports. They currently have a $68.00 price objective on the stock, up from their prior price objective of $53.00.

Other equities analysts have also issued reports about the company. StockNews.com assumed coverage on Cedar Fair in a research report on Wednesday, July 10th. They issued a hold rating on the stock. Mizuho cut their target price on Cedar Fair from $56.00 to $55.00 and set a buy rating on the stock in a research report on Wednesday, May 15th. The Goldman Sachs Group reaffirmed a neutral rating and issued a $63.00 target price on shares of Cedar Fair in a research report on Wednesday, July 10th. Truist Financial initiated coverage on Cedar Fair in a research report on Tuesday, July 9th. They issued a buy rating and a $62.00 target price on the stock. Finally, Morgan Stanley boosted their price target on Cedar Fair from $55.00 to $65.00 and gave the company an overweight rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Cedar Fair currently has an average rating of Moderate Buy and a consensus target price of $58.70.

Cedar Fair Price Performance

NYSE FUN opened at $52.71 on Friday. The firm has a market capitalization of $2.70 billion, a P/E ratio of 21.69 and a beta of 1.53. Cedar Fair has a 1-year low of $34.04 and a 1-year high of $58.70. The business’s 50-day simple moving average is $47.68 and its 200-day simple moving average is $42.95.

Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($2.40) by ($0.07). The firm had revenue of $101.62 million during the quarter, compared to analyst estimates of $91.97 million. Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. On average, equities research analysts expect that Cedar Fair will post 3.23 EPS for the current fiscal year.

Cedar Fair Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were given a dividend of $1.53 per share. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s dividend payout ratio (DPR) is presently 49.38%.

Institutional Trading of Cedar Fair

Institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Cedar Fair by 15.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock valued at $159,553,000 after buying an additional 539,352 shares during the period. UBS Group AG lifted its holdings in shares of Cedar Fair by 313.7% in the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock valued at $121,274,000 after buying an additional 2,310,565 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Cedar Fair in the fourth quarter valued at $463,000. Jump Financial LLC acquired a new stake in shares of Cedar Fair in the fourth quarter valued at $617,000. Finally, Carnegie Capital Asset Management LLC lifted its holdings in shares of Cedar Fair by 10.9% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 10,546 shares of the company’s stock valued at $420,000 after buying an additional 1,033 shares during the period. Institutional investors and hedge funds own 64.65% of the company’s stock.

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.