Cedar Fair, L.P. (NYSE:FUN) – Equities research analysts at KeyCorp issued their Q2 2019 earnings estimates for Cedar Fair in a report issued on Wednesday, January 9th. KeyCorp analyst B. Andress anticipates that the company will post earnings of $0.84 per share for the quarter. KeyCorp also issued estimates for Cedar Fair’s Q3 2019 earnings at $3.81 EPS, Q4 2019 earnings at $0.23 EPS and FY2020 earnings at $3.60 EPS.
Several other brokerages also recently weighed in on FUN. ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Zacks Investment Research downgraded shares of Cedar Fair from a “buy” rating to a “hold” rating in a report on Thursday. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $54.00 price target on shares of Cedar Fair in a report on Monday, December 24th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Cedar Fair has a consensus rating of “Hold” and a consensus target price of $60.83.
Cedar Fair (NYSE:FUN) last announced its earnings results on Tuesday, October 30th. The company reported $3.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.55. Cedar Fair had a net margin of 15.58% and a return on equity of 1,656.35%. The company had revenue of $663.70 million during the quarter, compared to analyst estimates of $659.45 million. During the same period in the previous year, the business posted $3.38 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Cedar Fair by 61.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,934 shares of the company’s stock worth $153,000 after buying an additional 1,116 shares in the last quarter. Edge Wealth Management LLC purchased a new stake in Cedar Fair during the third quarter valued at $154,000. Columbia Asset Management purchased a new stake in Cedar Fair during the third quarter valued at $154,000. Janney Montgomery Scott LLC purchased a new stake in Cedar Fair during the third quarter valued at $250,000. Finally, First Republic Investment Management Inc. purchased a new stake in Cedar Fair during the second quarter valued at $320,000. 50.77% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Eric Affeldt bought 2,000 shares of the stock in a transaction dated Friday, November 2nd. The shares were purchased at an average price of $51.44 per share, with a total value of $102,880.00. Following the completion of the acquisition, the director now owns 12,200 shares of the company’s stock, valued at $627,568. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Klein bought 20,000 shares of the stock in a transaction dated Monday, November 5th. The stock was bought at an average cost of $50.98 per share, for a total transaction of $1,019,600.00. Following the acquisition, the director now directly owns 56,012 shares of the company’s stock, valued at approximately $2,855,491.76. The disclosure for this purchase can be found here. Insiders bought 28,000 shares of company stock worth $1,416,000 in the last three months. Insiders own 2.00% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Tuesday, December 4th were issued a $0.925 dividend. This represents a $3.70 annualized dividend and a dividend yield of 6.90%. The ex-dividend date was Monday, December 3rd. This is an increase from Cedar Fair’s previous quarterly dividend of $0.89. Cedar Fair’s payout ratio is 91.36%.
Cedar Fair Company Profile
Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company operates approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 4 hotels. 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, Canada; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom in Allentown, Pennsylvania; Kings Dominion located near Richmond, Virginia; California's Great America located in Santa Clara, California; Valleyfair located near Minneapolis/St.
Recommended Story: Earnings Reports
Receive News & Ratings for Cedar Fair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Fair and related companies with MarketBeat.com's FREE daily email newsletter.