Cedar Fair (NYSE:FUN) Price Target Lowered to $52.00 at Mizuho

Cedar Fair (NYSE:FUN) had its price target decreased by Mizuho from $55.00 to $52.00 in a research report released on Friday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on FUN. Truist Financial started coverage on shares of Cedar Fair in a research report on Tuesday, July 9th. They set a buy rating and a $62.00 target price for the company. B. Riley boosted their price objective on Cedar Fair from $52.00 to $59.00 and gave the company a buy rating in a report on Wednesday, June 12th. Macquarie initiated coverage on Cedar Fair in a research report on Thursday, July 18th. They set an outperform rating and a $64.00 target price on the stock. Morgan Stanley upped their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the stock an overweight rating in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. assumed coverage on shares of Cedar Fair in a report on Tuesday, August 6th. They set an underweight rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cedar Fair currently has a consensus rating of Moderate Buy and a consensus target price of $59.55.

Cedar Fair Trading Down 3.2 %

FUN traded down $1.43 on Friday, reaching $43.18. The stock had a trading volume of 2,214,917 shares, compared to its average volume of 678,215. The firm has a 50-day moving average of $49.17 and a 200-day moving average of $44.05. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $58.70. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 17.77 and a beta of 1.54.

Cedar Fair (NYSE:FUN) last issued 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 business had revenue of $101.62 million during the quarter, compared to the consensus estimate of $91.97 million. Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. Sell-side analysts anticipate that Cedar Fair will post 3.63 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

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

Hedge Funds Weigh In On Cedar Fair

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC grew its position in Cedar Fair by 4.6% during the second quarter. Commonwealth Equity Services LLC now owns 18,806 shares of the company’s stock valued at $1,022,000 after buying an additional 826 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Cedar Fair by 31.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 11,815 shares of the company’s stock valued at $642,000 after acquiring an additional 2,804 shares during the period. Brookstone Capital Management purchased a new stake in shares of Cedar Fair during the 2nd quarter worth approximately $215,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Cedar Fair by 26.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 7,688 shares of the company’s stock worth $418,000 after purchasing an additional 1,620 shares during the period. Finally, Thrive Wealth Management LLC purchased a new position in Cedar Fair in the second quarter valued at approximately $252,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

About Cedar Fair

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.