ValuEngine upgraded shares of Cedar Fair (NYSE:FUN) from a strong sell rating to a sell rating in a research report released on Wednesday morning.
FUN has been the subject of a number of other reports. B. Riley reduced their price objective on shares of Cedar Fair from $70.00 to $60.00 and set a buy rating for the company in a research note on Thursday, August 2nd. TheStreet lowered shares of Cedar Fair from a b rating to a c+ rating in a research report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Cedar Fair from a hold rating to a sell rating in a research report on Thursday, July 12th. Goldman Sachs Group lowered shares of Cedar Fair from a buy rating to a neutral rating in a research report on Thursday, July 12th. Finally, KeyCorp dropped their target price on shares of Cedar Fair from $75.00 to $70.00 and set an overweight rating for the company in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $66.33.
Shares of NYSE FUN opened at $53.00 on Wednesday. The company has a debt-to-equity ratio of -24.04, a current ratio of 0.65 and a quick ratio of 0.52. The firm has a market capitalization of $3.00 billion, a PE ratio of 13.09, a PEG ratio of 3.80 and a beta of 0.39. Cedar Fair has a 1 year low of $50.10 and a 1 year high of $70.82.
Cedar Fair (NYSE:FUN) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.58). The firm had revenue of $380.32 million during the quarter, compared to analysts’ expectations of $387.60 million. Cedar Fair had a return on equity of 2,149.78% and a net margin of 14.04%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. research analysts predict that Cedar Fair will post 2.33 earnings per share for the current fiscal year.
In related news, Director Thomas Klein bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was purchased at an average price of $51.17 per share, for a total transaction of $511,700.00. Following the completion of the transaction, the director now owns 36,012 shares in the company, valued at $1,842,734.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Stock Yards Bank & Trust Co. bought a new position in shares of Cedar Fair during the second quarter worth $472,000. Barnett & Company Inc. lifted its position in Cedar Fair by 28.2% during the second quarter. Barnett & Company Inc. now owns 54,876 shares of the company’s stock valued at $3,458,000 after purchasing an additional 12,077 shares during the last quarter. Royal Bank of Canada lifted its position in Cedar Fair by 1.4% during the first quarter. Royal Bank of Canada now owns 1,079,269 shares of the company’s stock valued at $68,945,000 after purchasing an additional 15,333 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Cedar Fair by 9.5% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 24,220 shares of the company’s stock valued at $1,546,000 after purchasing an additional 2,109 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Cedar Fair by 2.5% during the first quarter. Wells Fargo & Company MN now owns 198,437 shares of the company’s stock valued at $12,676,000 after purchasing an additional 4,907 shares during the last quarter. Hedge funds and other institutional investors own 50.70% 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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