Cedar Fair (NYSE:FUN) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Cedar Fair (NYSE:FUN) in a report released on Sunday. The firm issued a hold rating on the stock.

A number of other research analysts also recently weighed in on the company. B. Riley cut their price objective on Cedar Fair from $77.00 to $65.00 and set a buy rating on the stock in a research note on Friday. JPMorgan Chase & Co. initiated coverage on shares of Cedar Fair in a research note on Tuesday, August 6th. They issued an underweight rating and a $50.00 price objective for the company. Citigroup cut their target price on shares of Cedar Fair from $64.00 to $61.00 and set a buy rating for the company in a research report on Friday. Oppenheimer upped their price target on shares of Cedar Fair from $49.00 to $67.00 and gave the company an outperform rating in a report on Tuesday, July 2nd. Finally, Mizuho cut their price objective on Cedar Fair from $55.00 to $52.00 and set an outperform rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $59.55.

Cedar Fair Stock Performance

Shares of Cedar Fair stock traded down $1.24 during midday trading on Friday, reaching $41.94. 447,960 shares of the company’s stock traded hands, compared to its average volume of 677,857. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70. The company’s 50 day simple moving average is $49.17 and its 200 day simple moving average is $44.08. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 17.77 and a beta of 1.54.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($2.40) by ($0.07). Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. The business had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. As a group, equities research analysts predict that Cedar Fair will post 3.63 earnings per share for the current year.

Cedar Fair Announces Dividend

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

Institutional Investors Weigh In On Cedar Fair

Several large investors have recently modified their holdings of FUN. Sequoia Financial Advisors LLC acquired a new stake in shares of Cedar Fair during the fourth quarter worth $463,000. Carnegie Capital Asset Management LLC lifted its position 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 worth $420,000 after purchasing an additional 1,033 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new position in Cedar Fair during the fourth quarter worth $1,834,000. Jump Financial LLC acquired a new position in Cedar Fair during the fourth quarter worth $617,000. Finally, Brown Advisory Inc. grew its position in Cedar Fair by 1.1% in the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock valued at $3,761,000 after purchasing an additional 1,000 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.

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.