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

StockNews.com started coverage on shares of Cedar Fair (NYSE:FUN) in a research note issued to investors on Friday morning. The firm issued a buy rating on the stock.

FUN has been the topic of several other research reports. KeyCorp boosted their price objective on shares of Cedar Fair from $49.00 to $52.00 and gave the stock an overweight rating in a report on Friday, February 16th. Oppenheimer started coverage on shares of Cedar Fair in a research report on Thursday, February 8th. They set an outperform rating and a $49.00 target price on the stock. Mizuho started coverage on shares of Cedar Fair in a research report on Tuesday, March 26th. They issued a buy rating and a $56.00 price target on the stock. B. Riley reiterated a buy rating and set a $52.00 target price (up from $50.00) on shares of Cedar Fair in a research report on Friday, February 16th. Finally, Morgan Stanley upped their target price on shares of Cedar Fair from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, December 14th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $50.30.

Cedar Fair Stock Down 0.3 %

Shares of FUN opened at $41.11 on Friday. The company’s fifty day moving average is $41.56 and its 200-day moving average is $39.27. Cedar Fair has a 12 month low of $34.04 and a 12 month high of $45.44. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 16.78 and a beta of 1.41.

Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, February 15th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The firm had revenue of $371.12 million during the quarter, compared to analyst estimates of $365.13 million. Cedar Fair had a net margin of 6.96% and a negative return on equity of 21.06%. As a group, research analysts predict that Cedar Fair will post 3.28 earnings per share for the current fiscal year.

Cedar Fair Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s payout ratio is 48.98%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FUN. PenderFund Capital Management Ltd. bought a new position in shares of Cedar Fair in the first quarter valued at about $41,000. Money Concepts Capital Corp acquired a new stake in Cedar Fair during the 4th quarter worth approximately $26,000. Tower Research Capital LLC TRC boosted its position in Cedar Fair by 355.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 815 shares of the company’s stock worth $38,000 after buying an additional 636 shares during the period. Ancora Advisors LLC lifted its position in shares of Cedar Fair by 34.6% in the 1st quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock worth $106,000 after purchasing an additional 550 shares during the period. Finally, BNP Paribas Arbitrage SNC lifted its position in shares of Cedar Fair by 33.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 2,685 shares of the company’s stock worth $110,000 after purchasing an additional 680 shares during the period. 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.