Wall Street analysts expect Cedar Fair, L.P. (NYSE:FUN) to report earnings per share (EPS) of $3.46 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Cedar Fair’s earnings, with the lowest EPS estimate coming in at $3.34 and the highest estimate coming in at $3.59. Cedar Fair posted earnings per share of $3.76 in the same quarter last year, which would indicate a negative year over year growth rate of 8%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that Cedar Fair will report full year earnings of $3.36 per share for the current year, with EPS estimates ranging from $3.10 to $3.52. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.58 per share, with EPS estimates ranging from $3.44 to $3.78. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Cedar Fair.
Cedar Fair (NYSE:FUN) last issued its earnings results on Wednesday, August 7th. The company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.25. The business had revenue of $436.19 million for the quarter, compared to analyst estimates of $410.86 million. Cedar Fair had a net margin of 12.03% and a negative return on equity of 939.99%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS.
A number of equities research analysts have recently issued reports on FUN shares. KeyCorp cut their target price on shares of Cedar Fair from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. B. Riley set a $60.00 target price on shares of Cedar Fair and gave the company a “buy” rating in a research note on Thursday, June 13th. SunTrust Banks upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Thursday. ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $61.60.
Shares of Cedar Fair stock traded down $0.53 during trading on Friday, reaching $54.12. The company had a trading volume of 365,418 shares, compared to its average volume of 426,569. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.51. The firm’s fifty day moving average is $50.97 and its 200-day moving average is $51.86. The company has a debt-to-equity ratio of 51.13, a quick ratio of 1.26 and a current ratio of 1.39. Cedar Fair has a fifty-two week low of $45.58 and a fifty-two week high of $56.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Wednesday, September 4th will be given a dividend of $0.925 per share. This represents a $3.70 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Tuesday, September 3rd. Cedar Fair’s dividend payout ratio is presently 122.52%.
Large investors have recently made changes to their positions in the stock. Deutsche Bank AG raised its position in Cedar Fair by 146.1% during the 4th quarter. Deutsche Bank AG now owns 166,750 shares of the company’s stock valued at $7,887,000 after purchasing an additional 99,000 shares in the last quarter. Brookstone Capital Management raised its position in Cedar Fair by 34.7% during the 1st quarter. Brookstone Capital Management now owns 12,503 shares of the company’s stock valued at $658,000 after purchasing an additional 3,219 shares in the last quarter. Horan Capital Advisors LLC. bought a new stake in Cedar Fair during the 1st quarter valued at $37,000. Capital Investment Advisory Services LLC raised its position in Cedar Fair by 66.7% during the 1st quarter. Capital Investment Advisory Services LLC now owns 500 shares of the company’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. Finally, Boston Advisors LLC raised its position in Cedar Fair by 1.7% during the 1st quarter. Boston Advisors LLC now owns 12,841 shares of the company’s stock valued at $676,000 after purchasing an additional 215 shares in the last quarter. 49.89% of the stock is owned by institutional investors and hedge funds.
About Cedar Fair
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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