Cedar Fair, L.P. (NYSE:FUN) – Analysts at SunTrust Banks issued their Q1 2018 earnings per share (EPS) estimates for shares of Cedar Fair, L.P. in a research report issued to clients and investors on Thursday. SunTrust Banks analyst M. Swartz anticipates that the company will earn ($1.19) per share for the quarter. SunTrust Banks also issued estimates for Cedar Fair, L.P.’s Q3 2018 earnings at $3.34 EPS, Q4 2018 earnings at $0.30 EPS and FY2018 earnings at $3.27 EPS.
A number of other analysts also recently commented on the stock. KeyCorp reiterated a “buy” rating and issued a $74.00 price objective on shares of Cedar Fair, L.P. in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Cedar Fair, L.P. from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) downgraded shares of Cedar Fair, L.P. from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a report on Wednesday, October 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $74.00 price objective (down previously from $75.00) on shares of Cedar Fair, L.P. in a report on Thursday, September 7th. Finally, FBR & Co reiterated a “buy” rating on shares of Cedar Fair, L.P. in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $74.38.
Cedar Fair, L.P. (NYSE:FUN) traded up $0.31 during mid-day trading on Monday, reaching $66.24. 4,282 shares of the company’s stock were exchanged, compared to its average volume of 168,830. The firm has a market cap of $3,707.77, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 3.88 and a beta of 0.51. The company has a debt-to-equity ratio of 22.05, a quick ratio of 1.06 and a current ratio of 1.18. Cedar Fair, L.P. has a 12 month low of $58.05 and a 12 month high of $72.56.
Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data 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 business 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 was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.10 EPS.
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 paid a $0.89 dividend. This is a boost from Cedar Fair, L.P.’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend is Friday, December 1st. This represents a $3.56 annualized dividend and a dividend yield of 5.37%. Cedar Fair, L.P.’s dividend payout ratio is 129.06%.
In other news, CEO Matthew A. Ouimet sold 2,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $64.90, for a total value of $129,800.00. Following the completion of the sale, the chief executive officer now owns 193,199 shares of the company’s stock, valued at approximately $12,538,615.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas Klein purchased 7,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $66.13 per share, with a total value of $462,910.00. Following the purchase, the director now owns 24,960 shares in the company, valued at $1,650,604.80. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.
Several large investors have recently bought and sold shares of FUN. Janus Henderson Group PLC purchased a new position in shares of Cedar Fair, L.P. during the 2nd quarter worth approximately $145,981,000. FMR LLC boosted its position in shares of Cedar Fair, L.P. by 42.9% during the 2nd quarter. FMR LLC now owns 4,061,429 shares of the company’s stock worth $292,829,000 after purchasing an additional 1,220,099 shares during the period. Northwestern Mutual Investment Management Company LLC purchased a new position in shares of Cedar Fair, L.P. during the 2nd quarter worth approximately $31,274,000. Goldman Sachs Group Inc. boosted its position in shares of Cedar Fair, L.P. by 12.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 486,339 shares of the company’s stock worth $35,065,000 after purchasing an additional 52,085 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Cedar Fair, L.P. by 58.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 111,370 shares of the company’s stock worth $8,030,000 after purchasing an additional 41,034 shares during the period. 51.55% of the stock is owned by hedge funds and other institutional investors.
About Cedar Fair, L.P.
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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