Cedar Fair, L.P. (NYSE:FUN) – Equities researchers at B. Riley boosted their Q1 2018 earnings per share (EPS) estimates for Cedar Fair in a report issued on Thursday. B. Riley analyst B. Crockett now forecasts that the company will post earnings per share of ($1.44) for the quarter, up from their previous forecast of ($1.55). B. Riley currently has a “Buy” rating on the stock.
A number of other brokerages have also weighed in on FUN. Zacks Investment Research lowered shares of Cedar Fair from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus lifted their price target on shares of Cedar Fair from $74.00 to $77.00 and gave the company a “buy” rating in a research note on Thursday. Finally, KeyCorp set a $77.00 price target on shares of Cedar Fair and gave the company a “buy” rating in a research note on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $75.20.
Cedar Fair (NYSE:FUN) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.81. The firm had revenue of $228.20 million during the quarter, compared to analysts’ expectations of $222.34 million. Cedar Fair had a net margin of 16.30% and a negative return on equity of 2,115.11%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.12) earnings per share.
Several hedge funds have recently made changes to their positions in FUN. Ffcm LLC bought a new stake in shares of Cedar Fair in the third quarter worth $109,000. Advisory Services Network LLC lifted its position in shares of Cedar Fair by 10.7% in 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Cedar Fair by 6.7% in 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 in the last quarter. Santori & Peters Inc. bought a new stake in shares of Cedar Fair in the fourth quarter worth $210,000. Finally, Clarus Wealth Advisors bought a new stake in shares of Cedar Fair in the fourth quarter worth $213,000. 49.39% of the stock is currently owned by institutional investors and hedge funds.
In other 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 value of $407,460.00. Following the sale, the chief executive officer now owns 215,353 shares of the company’s stock, valued at $14,624,622.23. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $64.69, for a total transaction of $129,380.00. Following the completion of the sale, the insider now directly owns 243,057 shares in the company, valued at approximately $15,723,357.33. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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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