Cedar Fair, L.P. to Post Q1 2018 Earnings of ($1.19) Per Share, SunTrust Banks Forecasts (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN) – Stock analysts at SunTrust Banks issued their Q1 2018 EPS estimates for shares of Cedar Fair, L.P. in a research note issued to investors on Thursday, Zacks Investment Research reports. SunTrust Banks analyst M. Swartz anticipates that the company will earn ($1.19) per share for the quarter. SunTrust Banks also issued estimates for Cedar Fair, L.P.’s Q3 2018 earnings at $3.34 EPS, Q4 2018 earnings at $0.30 EPS and FY2018 earnings at $3.27 EPS.

Several other equities analysts also recently weighed in on FUN. BidaskClub downgraded Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research cut Cedar Fair, L.P. from a “buy” rating to a “hold” rating in a report on Monday, July 31st. KeyCorp restated an “overweight” rating and set a $74.00 price objective on shares of Cedar Fair, L.P. in a research note on Wednesday, August 30th. FBR & Co reaffirmed a “buy” rating on shares of Cedar Fair, L.P. in a research report on Thursday, September 7th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price objective (down from $75.00) on shares of Cedar Fair, L.P. in a report on Thursday, September 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $74.38.

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Shares of Cedar Fair, L.P. (FUN) traded down $1.14 during mid-day trading on Monday, hitting $66.30. The stock had a trading volume of 14,920 shares, compared to its average volume of 133,417. Cedar Fair, L.P. has a fifty-two week low of $58.05 and a fifty-two week high of $72.56. The stock has a market cap of $3,760.07, a P/E ratio of 22.66, a price-to-earnings-growth ratio of 3.73 and a beta of 0.51. The company has a current ratio of 1.18, a quick ratio of 1.06 and a debt-to-equity ratio of 22.05.

Cedar Fair, L.P. (NYSE:FUN) last released its quarterly earnings data on Thursday, November 2nd. The company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.18). The business had revenue of $652.69 million during the quarter, compared to analysts’ expectations of $652.98 million. Cedar Fair, L.P. had a net margin of 11.75% and a return on equity of 2,430.22%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.10 EPS.

Several hedge funds and other institutional investors have recently made changes to their positions in FUN. Janus Henderson Group PLC raised its holdings in shares of Cedar Fair, L.P. by 3.3% during the third quarter. Janus Henderson Group PLC now owns 2,090,937 shares of the company’s stock worth $134,071,000 after acquiring an additional 66,239 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of Cedar Fair, L.P. by 17.6% during the third quarter. Allianz Asset Management GmbH now owns 127,120 shares of the company’s stock worth $8,151,000 after acquiring an additional 19,005 shares during the period. Aureus Asset Management LLC raised its holdings in shares of Cedar Fair, L.P. by 6.4% during the third quarter. Aureus Asset Management LLC now owns 235,369 shares of the company’s stock worth $15,092,000 after acquiring an additional 14,123 shares during the period. Epoch Investment Partners Inc. raised its holdings in shares of Cedar Fair, L.P. by 2.6% during the third quarter. Epoch Investment Partners Inc. now owns 434,662 shares of the company’s stock worth $27,870,000 after acquiring an additional 10,996 shares during the period. Finally, Private Advisor Group LLC raised its holdings in shares of Cedar Fair, L.P. by 31.3% during the third quarter. Private Advisor Group LLC now owns 25,167 shares of the company’s stock worth $1,600,000 after acquiring an additional 5,993 shares during the period. 51.43% of the stock is currently owned by institutional investors.

In other news, CEO Matthew A. Ouimet sold 3,000 shares of Cedar Fair, L.P. stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $66.80, for a total transaction of $200,400.00. Following the transaction, the chief executive officer now directly owns 195,199 shares of the company’s stock, valued at $13,039,293.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Matthew A. Ouimet sold 2,000 shares of Cedar Fair, L.P. stock in a transaction on Friday, September 15th. The stock was sold at an average price of $64.90, for a total transaction of $129,800.00. Following the transaction, the chief executive officer now directly owns 193,199 shares in the company, valued at $12,538,615.10. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, December 1st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.37%. This is a positive change from Cedar Fair, L.P.’s previous quarterly dividend of $0.86. Cedar Fair, L.P.’s dividend payout ratio is currently 129.06%.

Cedar Fair, L.P. Company Profile

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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Earnings History and Estimates for Cedar Fair, L.P. (NYSE:FUN)

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