Cedar Fair (NYSE:FUN) Downgraded by B. Riley

Cedar Fair (NYSE:FUN) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, Marketbeat.com reports. They currently have a $57.00 price objective on the stock, down from their previous price objective of $60.00. B. Riley’s price target would suggest a potential upside of 4.84% from the stock’s previous close. B. Riley also issued estimates for Cedar Fair’s Q4 2019 earnings at $0.08 EPS, FY2019 earnings at $3.05 EPS, Q4 2020 earnings at $0.31 EPS, FY2020 earnings at $3.40 EPS and FY2021 earnings at $3.77 EPS.

Several other research analysts have also issued reports on FUN. Zacks Investment Research upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Thursday, October 31st. KeyCorp lowered their price target on shares of Cedar Fair from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. TheStreet raised shares of Cedar Fair from a “c” rating to a “b-” rating in a research note on Thursday, August 29th. SunTrust Banks upgraded shares of Cedar Fair from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Thursday, August 22nd. Finally, ValuEngine raised shares of Cedar Fair from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $62.00.

NYSE FUN opened at $54.37 on Monday. The firm has a market capitalization of $3.16 billion, a PE ratio of 18.00, a P/E/G ratio of 2.54 and a beta of 0.48. The stock’s 50 day moving average is $56.22 and its 200 day moving average is $53.42. Cedar Fair has a twelve month low of $45.58 and a twelve month high of $64.86. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 50.48.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.46 by ($0.12). The firm had revenue of $714.50 million during the quarter, compared to the consensus estimate of $684.43 million. Cedar Fair had a negative return on equity of 528.93% and a net margin of 10.02%. Cedar Fair’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $3.76 EPS. On average, research analysts anticipate that Cedar Fair will post 3.14 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUN. Invesco Ltd. raised its position in shares of Cedar Fair by 3,640.3% in the 2nd quarter. Invesco Ltd. now owns 1,301,349 shares of the company’s stock worth $62,061,000 after purchasing an additional 1,266,556 shares during the last quarter. Morgan Stanley boosted its stake in Cedar Fair by 50.2% in the 2nd quarter. Morgan Stanley now owns 1,964,246 shares of the company’s stock worth $93,675,000 after purchasing an additional 656,131 shares in the last quarter. State of Michigan Retirement System bought a new position in Cedar Fair in the 3rd quarter worth about $15,174,000. Amundi Pioneer Asset Management Inc. boosted its stake in Cedar Fair by 10.4% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 751,561 shares of the company’s stock worth $35,842,000 after purchasing an additional 70,597 shares in the last quarter. Finally, Man Group plc grew its position in Cedar Fair by 77.8% during the 2nd quarter. Man Group plc now owns 146,251 shares of the company’s stock valued at $6,975,000 after purchasing an additional 63,986 shares during the last quarter. 51.97% of the stock is currently owned by hedge funds and other institutional investors.

Cedar Fair Company Profile

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.

Recommended Story: What is a capital gains distribution?

Analyst Recommendations for Cedar Fair (NYSE:FUN)

Receive News & Ratings for Cedar Fair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Fair and related companies with MarketBeat.com's FREE daily email newsletter.