StockNews.com Initiates Coverage on Cedar Fair (NYSE:FUN)

StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a research report released on Monday. The firm issued a buy rating on the stock.

Several other equities analysts also recently weighed in on the company. Mizuho started coverage on Cedar Fair in a research report on Tuesday, March 26th. They issued a buy rating and a $56.00 target price for the company. Oppenheimer started coverage on Cedar Fair in a research report on Thursday, February 8th. They issued an outperform rating and a $49.00 target price for the company. B. Riley reaffirmed a buy rating and issued a $52.00 target price (up from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. KeyCorp lifted their target price on Cedar Fair from $49.00 to $52.00 and gave the company an overweight rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus lifted their target price on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a research report on Friday, February 16th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of $50.30.

Cedar Fair Trading Up 0.8 %

Shares of FUN opened at $38.63 on Monday. The firm has a market cap of $1.97 billion, a P/E ratio of 15.77 and a beta of 1.41. Cedar Fair has a 12-month low of $34.04 and a 12-month high of $45.39. The company’s 50-day moving average price is $40.79 and its 200 day moving average price is $39.44.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. Equities research analysts forecast that Cedar Fair will post 3.27 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is 48.98%.

Hedge Funds Weigh In On Cedar Fair

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted 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 purchasing an additional 562 shares in the last quarter. Sound Income Strategies LLC lifted its stake in Cedar Fair by 44.4% in the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock valued at $110,000 after buying an additional 852 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake 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 during the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Cedar Fair in the first quarter valued at approximately $257,000. Finally, Saxon Interests Inc. purchased a new stake in shares of Cedar Fair during the fourth quarter worth approximately $308,000. 64.65% of the stock is owned by institutional investors and hedge funds.

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.