Cedar Fair (NYSE:FUN) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Cedar Fair (NYSE:FUN) in a research report sent to investors on Friday. The brokerage issued a hold rating on the stock.

Several other equities analysts have also issued reports on FUN. B. Riley raised their price objective on Cedar Fair from $52.00 to $59.00 and gave the stock a buy rating in a report on Wednesday, June 12th. Macquarie began coverage on Cedar Fair in a report on Thursday, July 18th. They set an outperform rating and a $64.00 price objective on the stock. Mizuho dropped their price objective on Cedar Fair from $56.00 to $55.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Oppenheimer increased their target price on shares of Cedar Fair from $49.00 to $67.00 and gave the stock an outperform rating in a research note on Tuesday, July 2nd. Finally, Truist Financial started coverage on shares of Cedar Fair in a research note on Tuesday, July 9th. They set a buy rating and a $62.00 target price for the company. Two equities research 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 presently has an average rating of Moderate Buy and an average price target of $60.10.

Cedar Fair Price Performance

NYSE:FUN opened at $47.22 on Friday. The firm has a market capitalization of $2.42 billion, a PE ratio of 19.43 and a beta of 1.53. The business’s fifty day moving average price is $48.83 and its 200 day moving average price is $43.58. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $58.70.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share (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 negative return on equity of 22.94% and a net margin of 6.95%. As a group, equities analysts anticipate that Cedar Fair will post 3.68 EPS for the current year.

Cedar Fair Announces Dividend

The company also recently disclosed a Variable dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 28th were given a $1.53 dividend. The ex-dividend date of this dividend was Friday, June 28th. Cedar Fair’s payout ratio is currently 49.38%.

Institutional Investors Weigh In On Cedar Fair

A number of hedge funds have recently added to or reduced their stakes in FUN. Tower Research Capital LLC TRC increased its holdings in Cedar Fair by 201.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after buying an additional 562 shares in the last quarter. CWM LLC increased its holdings in Cedar Fair by 932.0% in the second quarter. CWM LLC now owns 2,064 shares of the company’s stock valued at $112,000 after buying an additional 1,864 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Cedar Fair by 10.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after buying an additional 300 shares in the last quarter. Brookstone Capital Management purchased a new position in Cedar Fair in the second quarter valued at about $215,000. Finally, Thrive Wealth Management LLC purchased a new position in Cedar Fair in the second quarter valued at about $252,000. 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.