Cedar Fair, L.P. (NYSE:FUN) – Research analysts at KeyCorp raised their Q4 2017 earnings per share estimates for Cedar Fair, L.P. in a research report issued on Thursday. KeyCorp analyst B. Andress now anticipates that the company will post earnings of $0.20 per share for the quarter, up from their previous estimate of $0.17. KeyCorp currently has a “Buy” rating and a $74.00 target price on the stock. KeyCorp also issued estimates for Cedar Fair, L.P.’s FY2018 earnings at $3.45 EPS.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded Cedar Fair, L.P. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) cut Cedar Fair, L.P. from a “conviction-buy” rating to a “buy” rating and set a $75.00 target price on the stock. in a research report on Wednesday, October 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 target price (down previously from $75.00) on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. FBR & Co reiterated a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Finally, BidaskClub upgraded Cedar Fair, L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.38.
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Cedar Fair, L.P. (NYSE FUN) opened at $65.93 on Monday. Cedar Fair, L.P. has a 52 week low of $58.05 and a 52 week high of $72.56. The company has a debt-to-equity ratio of 22.05, a current ratio of 1.18 and a quick ratio of 1.06. The company has a market capitalization of $3,707.77, a PE ratio of 22.35, a P/E/G ratio of 3.88 and a beta of 0.51.
Cedar Fair, L.P. (NYSE:FUN) last posted its quarterly earnings results on Thursday, November 2nd. The company reported $3.38 EPS for the quarter, missing the Zacks’ consensus estimate of $3.56 by ($0.18). The company had revenue of $652.69 million during the quarter, compared to analyst estimates of $652.98 million. Cedar Fair, L.P. had a net margin of 11.75% and a return on equity of 2,430.22%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period last year, the firm earned $3.10 EPS.
Large investors have recently added to or reduced their stakes in the company. Solaris Asset Management LLC grew its holdings in shares of Cedar Fair, L.P. by 8.4% during the second quarter. Solaris Asset Management LLC now owns 1,545 shares of the company’s stock worth $111,000 after purchasing an additional 120 shares during the last quarter. Advisory Services Network LLC grew its holdings in shares of Cedar Fair, L.P. by 10.7% during the second quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock worth $120,000 after purchasing an additional 160 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Cedar Fair, L.P. during the second quarter worth about $123,000. The Manufacturers Life Insurance Company grew its holdings in shares of Cedar Fair, L.P. by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock worth $124,000 after purchasing an additional 108 shares during the last quarter. Finally, Peddock Capital Advisors LLC bought a new stake in shares of Cedar Fair, L.P. during the second quarter worth about $144,000. Institutional investors own 51.55% of the company’s stock.
In other news, CEO Matthew A. Ouimet sold 2,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $64.90, for a total transaction of $129,800.00. Following the sale, the chief executive officer now directly owns 193,199 shares in the company, valued at $12,538,615.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas Klein purchased 7,000 shares of Cedar Fair, L.P. stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average price of $66.13 per share, for a total transaction of $462,910.00. Following the completion of the acquisition, the director now owns 24,960 shares of the company’s stock, valued at approximately $1,650,604.80. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.89 per share. This is a boost from Cedar Fair, L.P.’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, December 1st. Cedar Fair, L.P.’s payout ratio is 129.06%.
Cedar Fair, L.P. Company Profile
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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