Q1 2024 EPS Estimates for Cedar Fair, L.P. Lowered by Analyst (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN) – Research analysts at B. Riley cut their Q1 2024 earnings per share (EPS) estimates for shares of Cedar Fair in a research report issued on Thursday, April 18th. B. Riley analyst E. Wold now forecasts that the company will post earnings of ($2.43) per share for the quarter, down from their previous forecast of ($2.30). B. Riley currently has a “Buy” rating and a $52.00 target price on the stock. The consensus estimate for Cedar Fair’s current full-year earnings is $3.27 per share. B. Riley also issued estimates for Cedar Fair’s Q2 2024 earnings at $0.92 EPS, Q3 2024 earnings at $4.08 EPS, Q4 2024 earnings at $0.17 EPS, Q1 2025 earnings at ($2.18) EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $4.33 EPS and Q4 2025 earnings at $0.25 EPS.

FUN has been the topic of a number of other reports. Truist Financial boosted their price target on Cedar Fair from $46.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 16th. KeyCorp raised their price target on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. StockNews.com started coverage on shares of Cedar Fair in a research report on Sunday. They issued a “buy” rating on the stock. Stifel Nicolaus raised their target price on shares of Cedar Fair from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Oppenheimer started coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They issued an “outperform” rating and a $49.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $50.30.

Cedar Fair Trading Up 1.3 %

FUN opened at $38.56 on Monday. The firm’s fifty day simple moving average is $41.16 and its 200 day simple moving average is $39.37. The stock has a market capitalization of $1.97 billion, a P/E ratio of 15.74 and a beta of 1.41. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.39.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.08). Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. The company had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million.

Cedar Fair Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. Cedar Fair’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Cedar Fair

Institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in shares of Cedar Fair by 15.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,008,868 shares of the company’s stock worth $159,553,000 after acquiring an additional 539,352 shares during the period. JPMorgan Chase & Co. lifted its holdings in Cedar Fair by 50.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,370,752 shares of the company’s stock valued at $124,718,000 after purchasing an additional 1,130,439 shares during the last quarter. UBS Group AG boosted its position in Cedar Fair by 313.7% during the fourth quarter. UBS Group AG now owns 3,047,096 shares of the company’s stock worth $121,274,000 after purchasing an additional 2,310,565 shares during the period. Barclays PLC increased its holdings in shares of Cedar Fair by 67.6% in the third quarter. Barclays PLC now owns 2,305,406 shares of the company’s stock valued at $85,300,000 after purchasing an additional 930,021 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Cedar Fair in the third quarter valued at about $25,215,000. 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.