Mizuho Begins Coverage on Cedar Fair (NYSE:FUN)

Mizuho began coverage on shares of Cedar Fair (NYSE:FUN) in a research report sent to investors on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $56.00 price objective on the stock.

FUN has been the topic of a number of other research reports. Oppenheimer began coverage on Cedar Fair in a research report on Thursday, February 8th. They set an outperform rating and a $49.00 price target on the stock. B. Riley reissued a buy rating and set a $52.00 price target (up previously from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Stifel Nicolaus boosted their price target on Cedar Fair from $49.00 to $52.00 and gave the stock a buy rating in a research report on Friday, February 16th. StockNews.com began coverage on Cedar Fair in a research report on Wednesday, March 20th. They set a buy rating on the stock. Finally, KeyCorp upped 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. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cedar Fair currently has an average rating of Buy and an average target price of $50.30.

Cedar Fair Stock Performance

FUN opened at $41.90 on Tuesday. Cedar Fair has a 52-week low of $34.04 and a 52-week high of $45.93. The firm has a market capitalization of $2.14 billion, a PE ratio of 17.10 and a beta of 1.41. The business’s 50-day simple moving average is $41.31 and its 200 day simple moving average is $39.18.

Cedar Fair (NYSE:FUN) last released its earnings results 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 for the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. On average, research analysts forecast that Cedar Fair will post 3.28 earnings per share for the current year.

Cedar Fair Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is currently 48.98%.

Institutional Investors Weigh In On Cedar Fair

A number of large investors have recently added to or reduced their stakes in FUN. Clearstead Advisors LLC raised its position in Cedar Fair by 9.7% during the 3rd quarter. Clearstead Advisors LLC now owns 2,997 shares of the company’s stock worth $123,000 after purchasing an additional 264 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Cedar Fair by 10.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,300 shares of the company’s stock valued at $131,000 after acquiring an additional 300 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Cedar Fair by 2.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company’s stock valued at $580,000 after acquiring an additional 353 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Cedar Fair by 0.6% during the 2nd quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock worth $2,727,000 after buying an additional 401 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Cedar Fair by 1.5% during the 3rd quarter. Raymond James & Associates now owns 27,960 shares of the company’s stock worth $1,035,000 after buying an additional 405 shares in the last quarter. Institutional investors and hedge funds 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.