Equities analysts forecast that Cedar Fair, L.P. (NYSE:FUN) will report $54.34 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Cedar Fair’s earnings, with the highest sales estimate coming in at $57.10 million and the lowest estimate coming in at $48.96 million. Cedar Fair posted sales of $48.32 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The company is scheduled to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Cedar Fair will report full-year sales of $54.34 million for the current year, with estimates ranging from $1.38 billion to $1.39 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.44 billion per share, with estimates ranging from $1.42 billion to $1.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Cedar Fair.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.81. The company had revenue of $228.20 million for the quarter, compared to analysts’ expectations of $222.34 million. Cedar Fair had a return on equity of 1,855.11% and a net margin of 16.30%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.12) earnings per share.
In other Cedar Fair news, CEO Matthew A. Ouimet sold 6,000 shares of the business’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $67.91, for a total transaction of $407,460.00. Following the sale, the chief executive officer now directly owns 215,353 shares of the company’s stock, valued at approximately $14,624,622.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Matthew A. Ouimet sold 2,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $64.69, for a total transaction of $129,380.00. Following the sale, the insider now directly owns 243,057 shares in the company, valued at $15,723,357.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,000 shares of company stock worth $807,000. Company insiders own 2.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its stake in Cedar Fair by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock valued at $124,000 after purchasing an additional 108 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Cedar Fair by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,212 shares of the company’s stock valued at $304,000 after acquiring an additional 175 shares in the last quarter. Huntington National Bank grew its holdings in shares of Cedar Fair by 8.4% during the 3rd quarter. Huntington National Bank now owns 11,131 shares of the company’s stock valued at $714,000 after acquiring an additional 866 shares in the last quarter. Brown Advisory Securities LLC grew its holdings in shares of Cedar Fair by 26.3% during the 3rd quarter. Brown Advisory Securities LLC now owns 4,259 shares of the company’s stock valued at $273,000 after acquiring an additional 887 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of Cedar Fair by 19.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 6,521 shares of the company’s stock valued at $424,000 after acquiring an additional 1,075 shares in the last quarter. 51.83% of the stock is currently owned by institutional investors.
Cedar Fair (NYSE:FUN) traded down $0.33 during midday trading on Friday, hitting $66.81. The company’s stock had a trading volume of 97,080 shares, compared to its average volume of 128,238. The company has a market capitalization of $3,760.00, a PE ratio of 23.52, a P/E/G ratio of 3.24 and a beta of 0.45. Cedar Fair has a 52 week low of $59.66 and a 52 week high of $72.56. The company has a debt-to-equity ratio of 20.02, a current ratio of 1.10 and a quick ratio of 1.06.
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About Cedar Fair
Cedar Fair, L.P. is an operator of regional amusement parks. The Company operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the Company owned approximately 11 amusement parks, two separately gated outdoor water parks, one indoor water park and five hotels.
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