Cedar Fair (NYSE:FUN) Coverage Initiated at Mizuho

Mizuho began coverage on shares of Cedar Fair (NYSE:FUN) in a report issued on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $56.00 target price on the stock.

FUN has been the topic of several other research reports. Morgan Stanley lifted their price objective on Cedar Fair from $50.00 to $55.00 and gave the company an overweight rating in a report on Thursday, December 14th. Oppenheimer began coverage on shares of Cedar Fair in a research note on Thursday, February 8th. They issued an outperform rating and a $49.00 target price for the company. StockNews.com initiated coverage on shares of Cedar Fair in a research report on Wednesday, March 20th. They issued a buy rating on the stock. Truist Financial boosted their price target on Cedar Fair from $46.00 to $48.00 and gave the stock a buy rating in a research report on Friday, February 16th. Finally, B. Riley reiterated a buy rating and set a $52.00 price target (up previously from $50.00) on shares of Cedar Fair in a report on Friday, February 16th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cedar Fair presently has an average rating of Buy and a consensus price target of $50.30.

Cedar Fair Stock Performance

Shares of NYSE:FUN opened at $41.90 on Tuesday. The business has a fifty day moving average of $41.35 and a 200-day moving average of $39.20. The firm has a market cap of $2.14 billion, a PE ratio of 17.10 and a beta of 1.41. Cedar Fair has a twelve month low of $34.04 and a twelve month high of $45.93.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). The business had revenue of $371.12 million for the quarter, compared to the consensus estimate of $365.13 million. Cedar Fair had a negative return on equity of 21.06% and a net margin of 6.96%. On average, analysts anticipate that Cedar Fair will post 3.28 EPS for the current fiscal year.

Cedar Fair Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, March 5th. Cedar Fair’s dividend payout ratio is currently 48.98%.

Hedge Funds Weigh In On Cedar Fair

Several hedge funds and other institutional investors have recently modified their holdings of FUN. Money Concepts Capital Corp bought a new position in Cedar Fair in the 4th quarter valued at approximately $26,000. Tower Research Capital LLC TRC boosted its holdings in shares of Cedar Fair by 201.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 841 shares of the company’s stock valued at $33,000 after acquiring an additional 562 shares in the last quarter. PenderFund Capital Management Ltd. bought a new stake in Cedar Fair during the 1st quarter worth $41,000. Ancora Advisors LLC raised its position in Cedar Fair by 34.6% in the first quarter. Ancora Advisors LLC now owns 2,139 shares of the company’s stock valued at $106,000 after purchasing an additional 550 shares during the last quarter. Finally, Sound Income Strategies LLC grew its holdings in shares of Cedar Fair by 44.4% during the fourth quarter. Sound Income Strategies LLC now owns 2,771 shares of the company’s stock worth $110,000 after purchasing an additional 852 shares during the last quarter. Institutional investors own 64.65% of the company’s stock.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. 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, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.