Cedar Fair, L.P. (NYSE:FUN) – Investment analysts at SunTrust Banks dropped their Q1 2018 earnings per share estimates for Cedar Fair in a report issued on Wednesday, Zacks Investment Research reports. SunTrust Banks analyst M. Swartz now anticipates that the company will post earnings of ($1.39) per share for the quarter, down from their prior estimate of ($1.19). SunTrust Banks also issued estimates for Cedar Fair’s Q2 2018 earnings at $1.01 EPS, FY2018 earnings at $3.59 EPS and FY2019 earnings at $3.91 EPS.
Several other equities analysts have also recently weighed in on FUN. Zacks Investment Research cut shares of Cedar Fair from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. KeyCorp set a $77.00 price target on shares of Cedar Fair and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Stifel Nicolaus raised their price target on shares of Cedar Fair from $74.00 to $77.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.20.
Shares of Cedar Fair (NYSE:FUN) traded up $0.64 during midday trading on Monday, reaching $64.90. 125,674 shares of the company traded hands, compared to its average volume of 119,867. Cedar Fair has a twelve month low of $59.66 and a twelve month high of $72.56. The company has a market cap of $3,660.00, a PE ratio of 22.23, a price-to-earnings-growth ratio of 3.09 and a beta of 0.46. The company has a debt-to-equity ratio of 20.02, a quick ratio of 0.96 and a current ratio of 1.10.
Cedar Fair (NYSE:FUN) last released its quarterly earnings data on Wednesday, February 14th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.81. The company had revenue of $228.20 million for the quarter, compared to analysts’ expectations of $222.34 million. Cedar Fair had a net margin of 16.30% and a return on equity of 1,855.11%. The business’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) EPS.
Several institutional investors have recently bought and sold shares of FUN. Deutsche Bank AG lifted its position in shares of Cedar Fair by 108,890.8% during the 4th quarter. Deutsche Bank AG now owns 248,499 shares of the company’s stock worth $16,149,000 after buying an additional 248,271 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of Cedar Fair by 12.1% during the 4th quarter. OppenheimerFunds Inc. now owns 2,276,115 shares of the company’s stock worth $147,925,000 after buying an additional 245,795 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Cedar Fair during the 4th quarter worth approximately $14,865,000. ING Groep NV lifted its position in shares of Cedar Fair by 163.3% during the 3rd quarter. ING Groep NV now owns 283,956 shares of the company’s stock worth $18,207,000 after buying an additional 176,100 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Cedar Fair by 3.3% during the 3rd quarter. Janus Henderson Group PLC now owns 2,090,937 shares of the company’s stock worth $134,071,000 after purchasing an additional 66,239 shares during the last quarter. 50.35% of the stock is currently owned by hedge funds and other institutional investors.
In other Cedar Fair news, insider Matthew A. Ouimet sold 2,000 shares of Cedar Fair stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $64.69, for a total transaction of $129,380.00. Following the transaction, the insider now owns 243,057 shares of the company’s stock, valued at approximately $15,723,357.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew A. Ouimet sold 6,000 shares of Cedar Fair stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $67.91, for a total transaction of $407,460.00. Following the transaction, the chief executive officer now directly owns 215,353 shares in the company, valued at approximately $14,624,622.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,000 shares of company stock worth $807,000. Insiders own 2.00% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Friday, March 9th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $3.56 annualized dividend and a yield of 5.49%. Cedar Fair’s payout ratio is 121.92%.
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About Cedar Fair
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.
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