Cedar Fair, L.P. (NYSE:FUN) – Equities research analysts at B. Riley reduced their Q2 2021 earnings per share (EPS) estimates for shares of Cedar Fair in a report issued on Monday, March 23rd. B. Riley analyst E. Wold now forecasts that the company will post earnings per share of $1.14 for the quarter, down from their prior forecast of $1.23. B. Riley currently has a “Neutral” rating and a $22.00 target price on the stock. B. Riley also issued estimates for Cedar Fair’s Q3 2021 earnings at $3.35 EPS and Q4 2021 earnings at $0.06 EPS.
Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.09). The firm had revenue of $257.25 million for the quarter, compared to analysts’ expectations of $267.47 million. Cedar Fair had a negative return on equity of 395.23% and a net margin of 11.69%.
A number of other analysts have also issued reports on FUN. TheStreet lowered shares of Cedar Fair from a “b-” rating to a “c” rating in a research report on Wednesday, February 19th. Zacks Investment Research downgraded shares of Cedar Fair from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Finally, ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Cedar Fair presently has an average rating of “Hold” and a consensus price target of $55.00.
Shares of FUN opened at $26.13 on Wednesday. The firm’s 50-day moving average is $40.19 and its two-hundred day moving average is $51.97. The firm has a market capitalization of $1.43 billion, a P/E ratio of 8.68, a PEG ratio of 0.81 and a beta of 0.70. Cedar Fair has a twelve month low of $13.00 and a twelve month high of $64.86. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 50.48.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Firestone Capital Management bought a new stake in Cedar Fair in the fourth quarter worth approximately $39,000. Lighthouse Financial Advisors Inc. acquired a new stake in shares of Cedar Fair in the fourth quarter worth $41,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Cedar Fair by 68.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 897 shares of the company’s stock worth $50,000 after buying an additional 364 shares during the last quarter. S.A. Mason LLC acquired a new stake in shares of Cedar Fair in the fourth quarter worth $62,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Cedar Fair in the third quarter worth $71,000. 50.38% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Craig Heckman bought 1,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were acquired at an average cost of $31.78 per share, with a total value of $31,780.00. Also, Director Carlos Ruisanchez acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were bought at an average cost of $44.81 per share, for a total transaction of $224,050.00. Following the completion of the transaction, the director now directly owns 6,308 shares of the company’s stock, valued at approximately $282,661.48. The disclosure for this purchase can be found here. Over the last three months, insiders bought 28,130 shares of company stock worth $1,008,559. 2.20% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Wednesday, March 4th were issued a $0.935 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $3.74 dividend on an annualized basis and a dividend yield of 14.31%. Cedar Fair’s payout ratio is currently 121.43%.
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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