Analysts expect Cedar Fair, L.P. (NYSE:FUN) to announce $0.21 earnings per share for the current quarter, according to Zacks. Seven analysts have issued estimates for Cedar Fair’s earnings, with the highest EPS estimate coming in at $0.24 and the lowest estimate coming in at $0.18. Cedar Fair posted earnings of ($0.12) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 275%. The company is scheduled to issue its next earnings report on Wednesday, February 21st.
According to Zacks, analysts expect that Cedar Fair will report full-year earnings of $3.01 per share for the current financial year, with EPS estimates ranging from $3.00 to $3.04. For the next fiscal year, analysts expect that the company will report earnings of $3.34 per share, with EPS estimates ranging from $3.23 to $3.48. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Cedar Fair.
Cedar Fair (NYSE:FUN) last posted its earnings results on Thursday, November 2nd. The company reported $3.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.56 by ($0.18). The firm had revenue of $652.69 million for the quarter, compared to analysts’ expectations of $652.98 million. Cedar Fair had a return on equity of 2,430.22% and a net margin of 11.75%. The business’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.10 earnings per share.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Cedar Fair from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 7th. B. Riley restated a “buy” rating on shares of Cedar Fair in a report on Friday, November 3rd. KeyCorp restated a “buy” rating and issued a $74.00 price objective on shares of Cedar Fair in a report on Tuesday, October 24th. Goldman Sachs Group lowered shares of Cedar Fair 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. Finally, Stifel Nicolaus restated a “buy” rating and issued a $74.00 price objective (down from $75.00) on shares of Cedar Fair in a report on Thursday, September 7th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $74.38.
In other Cedar Fair news, CEO Matthew A. Ouimet sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $66.40, for a total value of $265,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew A. Ouimet sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $67.91, for a total transaction of $407,460.00. Following the completion of the sale, the chief executive officer now owns 215,353 shares of the company’s stock, valued at $14,624,622.23. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP lifted its holdings in shares of Cedar Fair by 100.1% during the third quarter. GSA Capital Partners LLP now owns 37,999 shares of the company’s stock valued at $2,436,000 after purchasing an additional 19,011 shares during the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Cedar Fair during the third quarter valued at approximately $452,000. Janus Henderson Group PLC lifted its holdings in shares of Cedar Fair by 3.3% during the third quarter. Janus Henderson Group PLC now owns 2,090,937 shares of the company’s stock valued at $134,071,000 after purchasing an additional 66,239 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Cedar Fair by 17.6% during the third quarter. Allianz Asset Management GmbH now owns 127,120 shares of the company’s stock valued at $8,151,000 after purchasing an additional 19,005 shares during the last quarter. Finally, Aureus Asset Management LLC lifted its holdings in shares of Cedar Fair by 6.4% during the third quarter. Aureus Asset Management LLC now owns 235,369 shares of the company’s stock valued at $15,092,000 after purchasing an additional 14,123 shares during the last quarter. Hedge funds and other institutional investors own 49.90% of the company’s stock.
Cedar Fair (NYSE FUN) traded down $0.43 during trading on Monday, hitting $67.19. 96,805 shares of the stock were exchanged, compared to its average volume of 129,257. The company has a current ratio of 1.18, a quick ratio of 1.06 and a debt-to-equity ratio of 22.05. The stock has a market capitalization of $3,852.30, a price-to-earnings ratio of 23.22, a P/E/G ratio of 3.80 and a beta of 0.52. Cedar Fair has a one year low of $59.66 and a one year high of $72.56.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Monday, December 4th were issued a $0.89 dividend. The ex-dividend date of this dividend was Friday, December 1st. This is a positive change from Cedar Fair’s previous quarterly dividend of $0.86. This represents a $3.56 annualized dividend and a yield of 5.30%. Cedar Fair’s dividend payout ratio (DPR) is 134.34%.
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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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