Wall Street analysts expect that Cedar Fair, L.P. (NYSE:FUN) will report sales of $683.38 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Cedar Fair’s earnings, with the lowest sales estimate coming in at $653.00 million and the highest estimate coming in at $699.79 million. Cedar Fair posted sales of $663.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 3%. The company is expected to announce its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that Cedar Fair will report full year sales of $1.45 billion for the current fiscal year, with estimates ranging from $1.42 billion to $1.46 billion. For the next year, analysts anticipate that the company will post sales of $1.51 billion, with estimates ranging from $1.47 billion to $1.52 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Cedar Fair.
Cedar Fair (NYSE:FUN) last issued its earnings results on Wednesday, August 7th. The company reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.25. The firm had revenue of $436.19 million for the quarter, compared to analysts’ expectations of $410.86 million. Cedar Fair had a net margin of 12.03% and a negative return on equity of 939.99%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share.
NYSE:FUN traded down $1.10 during mid-day trading on Friday, hitting $57.55. The stock had a trading volume of 398,652 shares, compared to its average volume of 657,362. The stock has a 50-day simple moving average of $56.40 and a two-hundred day simple moving average of $52.69. The company has a market capitalization of $3.26 billion, a PE ratio of 19.06, a PEG ratio of 2.43 and a beta of 0.49. Cedar Fair has a twelve month low of $45.58 and a twelve month high of $64.86.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Wednesday, September 4th were paid a $0.925 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $3.70 annualized dividend and a yield of 6.43%. Cedar Fair’s dividend payout ratio is currently 122.52%.
A number of institutional investors have recently made changes to their positions in FUN. Sheets Smith Wealth Management grew its position in shares of Cedar Fair by 10.9% during the first quarter. Sheets Smith Wealth Management now owns 8,925 shares of the company’s stock worth $470,000 after acquiring an additional 875 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Cedar Fair during the second quarter worth approximately $1,188,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Cedar Fair by 2.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 19,903 shares of the company’s stock worth $1,047,000 after acquiring an additional 505 shares during the last quarter. Morgan Stanley grew its position in shares of Cedar Fair by 50.2% during the second quarter. Morgan Stanley now owns 1,964,246 shares of the company’s stock worth $93,675,000 after acquiring an additional 656,131 shares during the last quarter. Finally, Lenox Wealth Advisors LLC purchased a new position in shares of Cedar Fair during the third quarter worth approximately $35,000. Institutional investors own 49.88% of the company’s stock.
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.
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