Cedar Fair, L.P. (NYSE:FUN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Cedar Fair, L.P. (NYSE:FUN) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $60.10.

A number of equities research analysts have recently issued reports on FUN shares. StockNews.com began coverage on shares of Cedar Fair in a report on Saturday. They set a “hold” rating on the stock. Oppenheimer upped their price objective on shares of Cedar Fair from $49.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. B. Riley increased their price target on shares of Cedar Fair from $52.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Truist Financial initiated coverage on shares of Cedar Fair in a research note on Tuesday, July 9th. They set a “buy” rating and a $62.00 price target on the stock. Finally, Macquarie initiated coverage on shares of Cedar Fair in a research note on Thursday, July 18th. They set an “outperform” rating and a $64.00 price target on the stock.

Cedar Fair Trading Down 6.4 %

Shares of NYSE:FUN opened at $44.04 on Friday. The company has a 50 day moving average of $49.09 and a 200-day moving average of $43.88. The firm has a market cap of $2.26 billion, a P/E ratio of 18.12 and a beta of 1.54. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $58.70.

Cedar Fair (NYSE:FUN) last released 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 net margin of 6.95% and a negative return on equity of 22.94%. The business had revenue of $101.62 million for the quarter, compared to analyst estimates of $91.97 million. Equities research analysts forecast that Cedar Fair will post 3.63 EPS for the current year.

Cedar Fair Announces Dividend

The business also recently declared a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were issued a $1.53 dividend. 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

Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in Cedar Fair by 201.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after purchasing an additional 562 shares during the period. CWM LLC lifted its holdings in shares of Cedar Fair by 932.0% during the 2nd quarter. CWM LLC now owns 2,064 shares of the company’s stock worth $112,000 after acquiring an additional 1,864 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Cedar Fair by 10.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock worth $131,000 after acquiring an additional 300 shares during the period. Brookstone Capital Management bought a new position in shares of Cedar Fair during the 2nd quarter worth about $215,000. Finally, Thrive Wealth Management LLC bought a new position in shares of Cedar Fair during the 2nd quarter worth about $252,000. 64.65% of the stock is 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.