Cedar Fair, L.P. (FUN) Receives Average Recommendation of “Buy” from Analysts
Cedar Fair, L.P. (NYSE:FUN) has earned a consensus rating of “Buy” from the ten analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $61.20.
Several equities analysts have recently commented on FUN shares. TheStreet raised Cedar Fair from a “c+” rating to a “b-” rating in a research note on Thursday, January 31st. Zacks Investment Research raised Cedar Fair from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, January 22nd. B. Riley decreased their price target on Cedar Fair from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. SunTrust Banks reaffirmed a “hold” rating and issued a $54.00 price target on shares of Cedar Fair in a research note on Monday, December 24th. Finally, Macquarie raised Cedar Fair from a “neutral” rating to an “outperform” rating in a research note on Friday, February 15th.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC lifted its stake in Cedar Fair by 6.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 5,303,716 shares of the company’s stock worth $276,218,000 after acquiring an additional 316,231 shares in the last quarter. Morgan Stanley lifted its stake in Cedar Fair by 26.8% during the 3rd quarter. Morgan Stanley now owns 1,140,291 shares of the company’s stock worth $59,386,000 after acquiring an additional 241,301 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in Cedar Fair by 15.1% during the 4th quarter. Epoch Investment Partners Inc. now owns 534,923 shares of the company’s stock worth $25,302,000 after acquiring an additional 70,261 shares in the last quarter. MARSHALL WACE ASIA Ltd lifted its stake in Cedar Fair by 8.1% during the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 443,653 shares of the company’s stock worth $23,105,000 after acquiring an additional 33,284 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Cedar Fair by 347.8% during the 4th quarter. Bank of Montreal Can now owns 375,700 shares of the company’s stock worth $17,770,000 after acquiring an additional 291,800 shares in the last quarter. 51.19% of the stock is currently owned by hedge funds and other institutional investors.
Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Wednesday, February 13th. The company reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.59). Cedar Fair had a net margin of 9.39% and a return on equity of 22,432.99%. The business had revenue of $249.80 million during the quarter, compared to analyst estimates of $243.23 million. During the same period last year, the company earned $1.01 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Cedar Fair will post 3.3 EPS for the current year.
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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