Cedar Fair (NYSE:FUN) Earns Buy Rating from Analysts at StockNews.com

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

A number of other analysts have also weighed in on the stock. Mizuho assumed coverage on shares of Cedar Fair in a research note on Tuesday, March 26th. They issued a buy rating and a $56.00 price objective on the stock. 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. Stifel Nicolaus boosted their price objective on Cedar Fair from $49.00 to $52.00 and gave the company a buy rating in a report on Friday, February 16th. Truist Financial raised their target price on Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a report on Friday, February 16th. Finally, KeyCorp lifted their price target 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, According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average target price of $50.30.

Cedar Fair Stock Performance

Shares of FUN stock opened at $38.10 on Monday. Cedar Fair has a fifty-two week low of $34.04 and a fifty-two week high of $45.39. The firm has a market capitalization of $1.94 billion, a PE ratio of 15.55 and a beta of 1.41. The stock’s 50-day simple moving average is $40.76 and its 200-day simple moving average is $39.46.

Cedar Fair (NYSE:FUN) last issued its earnings results on Thursday, February 15th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $371.12 million during the quarter, compared to analysts’ expectations of $365.13 million. Sell-side analysts forecast that Cedar Fair will post 3.27 earnings per share for the current year.

Cedar Fair Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Tuesday, March 5th. Cedar Fair’s dividend payout ratio (DPR) is presently 48.98%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FUN. Raymond James & Associates grew its stake in Cedar Fair by 1.5% in the 3rd quarter. Raymond James & Associates now owns 27,960 shares of the company’s stock valued at $1,035,000 after acquiring an additional 405 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Cedar Fair by 2.3% during the third quarter. Stratos Wealth Partners LTD. now owns 15,685 shares of the company’s stock valued at $580,000 after purchasing an additional 353 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Cedar Fair by 8.2% in the third quarter. Brown Advisory Inc. now owns 93,486 shares of the company’s stock valued at $3,459,000 after purchasing an additional 7,100 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Cedar Fair by 26.4% during the third quarter. Leith Wheeler Investment Counsel Ltd. now owns 171,373 shares of the company’s stock worth $6,341,000 after purchasing an additional 35,818 shares in the last quarter. Finally, Citadel Investment Advisory Inc. increased its stake in shares of Cedar Fair by 29.8% during the third quarter. Citadel Investment Advisory Inc. now owns 17,875 shares of the company’s stock worth $661,000 after purchasing an additional 4,100 shares in the last quarter. 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.