Cedar Fair (NYSE:FUN) Upgraded at ValuEngine

ValuEngine upgraded shares of Cedar Fair (NYSE:FUN) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Several other brokerages have also recently weighed in on FUN. B. Riley set a $60.00 target price on Cedar Fair and gave the stock a buy rating in a report on Thursday, June 13th. Zacks Investment Research upgraded Cedar Fair from a sell rating to a hold rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $57.75.

Shares of Cedar Fair stock traded up $0.81 on Thursday, hitting $52.77. 505,900 shares of the company were exchanged, compared to its average volume of 233,683. The stock has a market cap of $2.81 billion, a PE ratio of 17.47, a price-to-earnings-growth ratio of 2.18 and a beta of 0.51. The stock’s 50-day moving average is $49.40. Cedar Fair has a 1-year low of $45.58 and a 1-year high of $56.58. The company has a quick ratio of 0.49, a current ratio of 0.63 and a debt-to-equity ratio of 51.13.

Cedar Fair (NYSE:FUN) last issued its earnings results on Wednesday, August 7th. The company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.25. The business had revenue of $436.19 million for the quarter, compared to analysts’ expectations of $410.86 million. Cedar Fair had a negative return on equity of 1,151.68% and a net margin of 9.29%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, sell-side analysts predict that Cedar Fair will post 3.25 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.925 per share. This represents a $3.70 annualized dividend and a dividend yield of 7.01%. The ex-dividend date of this dividend is Tuesday, September 3rd. Cedar Fair’s dividend payout ratio is currently 122.52%.

Institutional investors have recently modified their holdings of the company. Capital Investment Advisory Services LLC lifted its holdings in Cedar Fair by 66.7% in the first quarter. Capital Investment Advisory Services LLC now owns 500 shares of the company’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Personal Wealth Partners acquired a new position in Cedar Fair in the second quarter valued at approximately $27,000. Synovus Financial Corp acquired a new position in Cedar Fair in the first quarter valued at approximately $32,000. Coastal Capital Group Inc. acquired a new position in Cedar Fair in the second quarter valued at approximately $31,000. Finally, Trustcore Financial Services LLC acquired a new position in Cedar Fair in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 51.64% of the company’s stock.

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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