$305.28 Million in Sales Expected for Cedar Fair, L.P. (NYSE:FUN) This Quarter

Brokerages expect Cedar Fair, L.P. (NYSE:FUN) to post sales of $305.28 million for the current quarter, according to Zacks. Five analysts have issued estimates for Cedar Fair’s earnings. The lowest sales estimate is $283.00 million and the highest is $325.20 million. Cedar Fair posted sales of $33.88 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 801.1%. The company is scheduled to issue its next earnings report on Friday, February 18th.

According to Zacks, analysts expect that Cedar Fair will report full-year sales of $1.29 billion for the current financial year, with estimates ranging from $1.27 billion to $1.31 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.70 billion, with estimates ranging from $1.67 billion to $1.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Cedar Fair.

Cedar Fair (NYSE:FUN) last released its earnings results on Wednesday, November 3rd. The company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.41. The business had revenue of $753.40 million during the quarter, compared to the consensus estimate of $663.44 million. The firm’s revenue for the quarter was up 761.0% on a year-over-year basis. During the same period last year, the business posted ($2.12) EPS.

FUN has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Cedar Fair from a “buy” rating to a “hold” rating in a research report on Friday, November 5th. KeyCorp lifted their price objective on shares of Cedar Fair from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, November 8th. B. Riley decreased their price objective on shares of Cedar Fair from $75.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, November 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cedar Fair in a research report on Wednesday, November 17th. They issued a “buy” rating and a $66.00 price objective for the company. Finally, TheStreet raised shares of Cedar Fair from a “d” rating to a “c-” rating in a research report on Wednesday, November 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Cedar Fair presently has a consensus rating of “Buy” and a consensus price target of $60.75.

Cedar Fair stock traded down $0.62 during mid-day trading on Friday, reaching $46.53. The company’s stock had a trading volume of 205,264 shares, compared to its average volume of 354,277. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of -20.59 and a beta of 2.14. Cedar Fair has a 12 month low of $37.79 and a 12 month high of $52.50. The business’s 50 day simple moving average is $48.55 and its 200 day simple moving average is $46.12.

Several hedge funds and other institutional investors have recently bought and sold shares of FUN. Goldman Sachs Group Inc. raised its stake in Cedar Fair by 15.9% in the 3rd quarter. Goldman Sachs Group Inc. now owns 5,169,992 shares of the company’s stock worth $239,784,000 after purchasing an additional 708,027 shares in the last quarter. Bank of America Corp DE raised its stake in Cedar Fair by 142.7% in the 2nd quarter. Bank of America Corp DE now owns 2,596,931 shares of the company’s stock worth $116,421,000 after purchasing an additional 1,526,914 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Cedar Fair by 23.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,385,690 shares of the company’s stock worth $106,950,000 after purchasing an additional 449,429 shares in the last quarter. Bank of Montreal Can raised its stake in Cedar Fair by 51.5% in the 2nd quarter. Bank of Montreal Can now owns 1,294,767 shares of the company’s stock worth $58,446,000 after purchasing an additional 439,900 shares in the last quarter. Finally, Natixis raised its stake in Cedar Fair by 28.7% in the 3rd quarter. Natixis now owns 1,081,500 shares of the company’s stock worth $50,160,000 after purchasing an additional 241,000 shares in the last quarter. Institutional investors own 60.97% of the company’s stock.

Cedar Fair Company Profile

Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada’s Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott’s Berry Farm, and California’s Great America.

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Earnings History and Estimates for Cedar Fair (NYSE:FUN)

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