ValuEngine downgraded shares of Cedar Fair (NYSE:FUN) from a hold rating to a sell rating in a report issued on Wednesday morning, ValuEngine reports.

FUN has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Cedar Fair from a sell rating to a hold rating in a report on Friday, May 17th. Macquarie upgraded shares of Cedar Fair from a neutral rating to an outperform rating in a report on Friday, February 15th. TheStreet lowered shares of Cedar Fair from a b- rating to a c rating in a research report on Monday, March 18th. Finally, B. Riley decreased their price objective on shares of Cedar Fair from $61.00 to $60.00 and set a buy rating for the company in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $60.83.

NYSE:FUN opened at $49.47 on Wednesday. Cedar Fair has a fifty-two week low of $45.73 and a fifty-two week high of $66.67. The stock has a market capitalization of $2.79 billion, a PE ratio of 16.38, a PEG ratio of 2.14 and a beta of 0.59. The company has a current ratio of 0.63, a quick ratio of 0.49 and a debt-to-equity ratio of 51.13.

Cedar Fair (NYSE:FUN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($1.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.47) by $0.01. Cedar Fair had a net margin of 9.29% and a negative return on equity of 1,151.68%. The business had revenue of $67.00 million for the quarter, compared to analysts’ expectations of $55.14 million. During the same period last year, the business earned ($1.49) EPS. The company’s revenue was up 22.5% compared to the same quarter last year. As a group, equities research analysts forecast that Cedar Fair will post 3.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Tuesday, June 4th will be given a $0.925 dividend. This represents a $3.70 annualized dividend and a dividend yield of 7.48%. The ex-dividend date of this dividend is Monday, June 3rd. Cedar Fair’s payout ratio is currently 122.52%.

Several institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its position in shares of Cedar Fair by 64.1% in the 1st quarter. Morgan Stanley now owns 1,308,115 shares of the company’s stock valued at $68,833,000 after purchasing an additional 511,202 shares during the last quarter. MARSHALL WACE ASIA Ltd raised its position in shares of Cedar Fair by 42.9% in the 1st quarter. MARSHALL WACE ASIA Ltd now owns 684,943 shares of the company’s stock valued at $36,042,000 after purchasing an additional 205,534 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Cedar Fair by 15.1% in the 4th quarter. Epoch Investment Partners Inc. now owns 534,923 shares of the company’s stock valued at $25,302,000 after purchasing an additional 70,261 shares during the last quarter. Bank of Montreal Can raised its position in Cedar Fair by 31.1% during the 1st quarter. Bank of Montreal Can now owns 492,600 shares of the company’s stock worth $25,920,000 after buying an additional 116,900 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Cedar Fair by 103.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 362,145 shares of the company’s stock worth $19,056,000 after buying an additional 184,344 shares during the last quarter. 51.67% of the stock is owned by hedge funds and other institutional investors.

Cedar Fair Company Profile

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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Analyst Recommendations for Cedar Fair (NYSE:FUN)

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