SunTrust Banks, Inc. initiated coverage on shares of Cedar Fair, L.P. (NYSE:FUN) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “hold” rating on the stock.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. Goldman Sachs Group Inc started coverage on shares of Cedar Fair, L.P. in a research report on Thursday, April 6th. They issued a “buy” rating and a $81.00 target price on the stock. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $76.00 target price on shares of Cedar Fair, L.P. in a research report on Thursday, February 16th. Wedbush upped their target price on shares of Cedar Fair, L.P. from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Finally, FBR & Co upped their target price on shares of Cedar Fair, L.P. from $68.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $72.29.
Shares of Cedar Fair, L.P. ( NYSE:FUN ) traded down 0.26% during mid-day trading on Wednesday, reaching $68.25. 64,483 shares of the company’s stock traded hands. Cedar Fair, L.P. has a 12-month low of $56.17 and a 12-month high of $69.81. The firm’s 50 day moving average price is $68.01 and its 200-day moving average price is $62.92. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 21.74 and a beta of 0.74. //www.americanbankingnews.com/2017/04/12/cedar-fair-l-p-fun-research-coverage-started-at-suntrust-banks-inc.html
Cedar Fair, L.P. (NYSE:FUN) last released its earnings results on Wednesday, February 15th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by $0.14. The business earned $192 million during the quarter, compared to analysts’ expectations of $182.64 million. Cedar Fair, L.P. had a return on equity of 768.42% and a net margin of 12.57%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.46) earnings per share. Equities research analysts forecast that Cedar Fair, L.P. will post $3.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Friday, March 3rd were given a dividend of $0.855 per share. This represents a $3.42 annualized dividend and a yield of 5.01%. This is an increase from Cedar Fair, L.P.’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Wednesday, March 1st. Cedar Fair, L.P.’s dividend payout ratio is 122.14%.
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In related news, CMO Kelley Semmelroth sold 5,419 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $68.48, for a total transaction of $371,093.12. Following the sale, the chief marketing officer now directly owns 34,930 shares of the company’s stock, valued at approximately $2,392,006.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website . Corporate insiders own 1.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in FUN. Picton Mahoney Asset Management purchased a new stake in shares of Cedar Fair, L.P. during the third quarter valued at approximately $155,000. Woodstock Corp purchased a new stake in shares of Cedar Fair, L.P. during the first quarter valued at approximately $203,000. Dynamic Advisors Solutions LLC increased its stake in shares of Cedar Fair, L.P. by 1.2% in the first quarter. Dynamic Advisors Solutions LLC now owns 3,458 shares of the company’s stock valued at $235,000 after buying an additional 42 shares during the period. Aveo Capital Partners LLC purchased a new stake in shares of Cedar Fair, L.P. during the fourth quarter valued at approximately $248,000. Finally, Nuveen Fund Advisors LLC purchased a new stake in shares of Cedar Fair, L.P. during the third quarter valued at approximately $232,000. 48.91% of the stock is currently owned by institutional investors.
Cedar Fair, L.P. 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. Cedar Fair L.P. Cedar Fair L.P.