Mizuho Trims Cedar Fair (NYSE:FUN) Target Price to $52.00

Cedar Fair (NYSE:FUN) had its target price reduced by Mizuho from $55.00 to $52.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus restated a buy rating and issued a $68.00 price objective (up previously from $53.00) on shares of Cedar Fair in a report on Friday, July 12th. Oppenheimer boosted their price target on Cedar Fair from $49.00 to $67.00 and gave the stock an outperform rating in a research report on Tuesday, July 2nd. B. Riley increased their price objective on Cedar Fair from $52.00 to $59.00 and gave the company a buy rating in a report on Wednesday, June 12th. Macquarie started coverage on shares of Cedar Fair in a report on Thursday, July 18th. They set an outperform rating and a $64.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on shares of Cedar Fair in a research note on Tuesday, August 6th. They issued an underweight rating and a $50.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $59.55.

Cedar Fair Trading Down 2.8 %

Shares of NYSE:FUN traded down $1.22 during trading on Friday, hitting $41.96. 326,199 shares of the company’s stock traded hands, compared to its average volume of 677,377. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 17.77 and a beta of 1.54. Cedar Fair has a 52 week low of $34.04 and a 52 week high of $58.70. The company has a 50-day moving average price of $49.17 and a 200-day moving average price of $44.08.

Cedar Fair (NYSE:FUN) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). Cedar Fair had a net margin of 6.95% and a negative return on equity of 22.94%. The firm had revenue of $101.62 million during the quarter, compared to the consensus estimate of $91.97 million. On average, analysts predict that Cedar Fair will post 3.63 earnings per share for the current fiscal year.

Cedar Fair Dividend Announcement

The company also recently announced a Variable dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 28th were issued a $1.53 dividend. The ex-dividend date was Friday, June 28th. Cedar Fair’s payout ratio is presently 49.38%.

Institutional Investors Weigh In On Cedar Fair

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new stake in shares of Cedar Fair during the 4th quarter worth approximately $463,000. Carnegie Capital Asset Management LLC grew its stake in shares of Cedar Fair by 10.9% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 10,546 shares of the company’s stock worth $420,000 after acquiring an additional 1,033 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new stake in shares of Cedar Fair in the fourth quarter valued at about $1,834,000. Jump Financial LLC bought a new position in shares of Cedar Fair during the fourth quarter valued at about $617,000. Finally, Brown Advisory Inc. boosted its holdings in Cedar Fair by 1.1% during the fourth quarter. Brown Advisory Inc. now owns 94,486 shares of the company’s stock worth $3,761,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

Cedar Fair Company Profile

Cedar Fair, L.P. owns and operates amusement and water parks, as well as complementary resort facilities. 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, Ontario; Kings Island near Cincinnati, Ohio; Carowinds in Charlotte, North Carolina; Kings Dominion situated near Richmond, Virginia; California's Great America located in Santa Clara, California; Dorney Park in Pennsylvania; Worlds of Fun located in Kansas City, Missouri; Valleyfair situated near Minneapolis/St.