Analysts expect that Cedar Fair, L.P. (NYSE:FUN) will report earnings of ($1.35) per share for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Cedar Fair’s earnings, with the highest EPS estimate coming in at ($1.27) and the lowest estimate coming in at ($1.44). Cedar Fair posted earnings of ($1.13) per share in the same quarter last year, which indicates a negative year over year growth rate of 19.5%. The firm is expected to announce its next earnings report on Wednesday, May 2nd.
On average, analysts expect that Cedar Fair will report full year earnings of $3.51 per share for the current financial year, with EPS estimates ranging from $2.79 to $3.80. For the next year, analysts expect that the company will post earnings of $3.74 per share, with EPS estimates ranging from $3.07 to $4.05. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Cedar Fair.
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 return on equity of 1,855.11%. 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.
A number of research analysts recently issued reports on FUN shares. Zacks Investment Research cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Stifel Nicolaus boosted their price objective on shares of Cedar Fair from $74.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, KeyCorp set a $77.00 price objective on shares of Cedar Fair and gave the company a “buy” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $75.20.
Cedar Fair (NYSE FUN) opened at $64.90 on Monday. The stock has a market cap of $3,621.95, a P/E ratio of 15.75, a P/E/G ratio of 3.05 and a beta of 0.46. The company has a debt-to-equity ratio of 20.02, a quick ratio of 0.96 and a current ratio of 1.10. Cedar Fair has a 1-year low of $59.66 and a 1-year high of $72.56.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Friday, March 9th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Thursday, March 8th. Cedar Fair’s dividend payout ratio (DPR) is presently 94.18%.
In other news, insider Matthew A. Ouimet sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $64.69, for a total value of $129,380.00. Following the completion of the transaction, the insider now owns 243,057 shares in the company, valued at $15,723,357.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Matthew A. Ouimet sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $67.54, for a total transaction of $270,160.00. Following the completion of the transaction, the chairman now owns 231,348 shares of the company’s stock, valued at approximately $15,625,243.92. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $807,000 in the last quarter. Corporate insiders own 2.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in FUN. The Manufacturers Life Insurance Company boosted its holdings 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 valued at $124,000 after buying an additional 108 shares during the period. Global X MANAGEMENT CO LLC boosted its holdings in shares of Cedar Fair by 3.4% in the third quarter. Global X MANAGEMENT CO LLC now owns 124,393 shares of the company’s stock valued at $7,976,000 after buying an additional 4,083 shares during the period. Commonwealth Equity Services Inc boosted its holdings in shares of Cedar Fair by 11.1% in the third quarter. Commonwealth Equity Services Inc now owns 33,833 shares of the company’s stock valued at $2,169,000 after buying an additional 3,378 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Cedar Fair by 9.5% in the third quarter. Ameriprise Financial Inc. now owns 16,867 shares of the company’s stock valued at $1,081,000 after buying an additional 1,463 shares during the period. Finally, ING Groep NV boosted its holdings in shares of Cedar Fair by 163.3% in the third quarter. ING Groep NV now owns 283,956 shares of the company’s stock valued at $18,207,000 after buying an additional 176,100 shares during the period. Institutional investors own 50.35% of the company’s stock.
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Cedar Fair Company Profile
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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