Cedar Fair (NYSE:FUN) Price Target Cut to $22.00 by Analysts at B. Riley

Cedar Fair (NYSE:FUN) had its price target decreased by B. Riley from $44.00 to $22.00 in a research report report published on Monday, BenzingaRatingsTable reports. B. Riley currently has a neutral rating on the stock. B. Riley also issued estimates for Cedar Fair’s Q1 2020 earnings at ($1.75) EPS, Q2 2020 earnings at ($1.18) EPS, Q3 2020 earnings at $3.69 EPS, Q4 2020 earnings at $0.37 EPS, FY2020 earnings at $1.13 EPS, Q2 2021 earnings at $1.14 EPS, Q3 2021 earnings at $3.35 EPS, Q4 2021 earnings at $0.06 EPS and FY2021 earnings at $2.89 EPS.

FUN has been the subject of a number of other reports. ValuEngine lowered shares of Cedar Fair from a hold rating to a sell rating in a report on Friday, March 13th. Zacks Investment Research lowered shares of Cedar Fair from a hold rating to a sell rating in a report on Friday, February 21st. Finally, TheStreet lowered shares of Cedar Fair from a b- rating to a c rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $55.00.

NYSE FUN traded down $1.12 on Monday, reaching $25.01. 1,379,912 shares of the stock were exchanged, compared to its average volume of 705,227. Cedar Fair has a one year low of $13.00 and a one year high of $64.86. The firm has a market capitalization of $1.24 billion, a PE ratio of 8.31, a PEG ratio of 0.97 and a beta of 0.70. The company’s 50-day simple moving average is $39.60 and its two-hundred day simple moving average is $51.81. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 50.48.

Cedar Fair (NYSE:FUN) last released its earnings results on Wednesday, February 19th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.09). Cedar Fair had a negative return on equity of 395.23% and a net margin of 11.69%. The firm had revenue of $257.25 million for the quarter, compared to the consensus estimate of $267.47 million. Sell-side analysts forecast that Cedar Fair will post 3.23 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.935 per share. This represents a $3.74 dividend on an annualized basis and a yield of 14.95%. The ex-dividend date of this dividend was Tuesday, March 3rd. Cedar Fair’s dividend payout ratio (DPR) is currently 121.43%.

In other Cedar Fair news, EVP Craig Heckman bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was purchased at an average cost of $31.78 per share, with a total value of $31,780.00. Also, COO Tim Fisher bought 3,660 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average cost of $27.33 per share, with a total value of $100,027.80. Following the completion of the acquisition, the chief operating officer now owns 24,153 shares of the company’s stock, valued at approximately $660,101.49. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 28,130 shares of company stock valued at $1,008,559. Insiders own 2.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of FUN. Alleghany Corp DE purchased a new position in shares of Cedar Fair in the fourth quarter valued at $74,290,000. CI Investments Inc. grew its holdings in shares of Cedar Fair by 27.3% in the fourth quarter. CI Investments Inc. now owns 785,200 shares of the company’s stock valued at $43,531,000 after purchasing an additional 168,400 shares in the last quarter. Raymond James & Associates lifted its position in Cedar Fair by 96.7% in the fourth quarter. Raymond James & Associates now owns 286,778 shares of the company’s stock worth $15,899,000 after buying an additional 141,001 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in Cedar Fair by 20.6% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 818,629 shares of the company’s stock worth $45,386,000 after buying an additional 139,731 shares during the last quarter. Finally, River Road Asset Management LLC lifted its position in Cedar Fair by 31.0% in the fourth quarter. River Road Asset Management LLC now owns 420,927 shares of the company’s stock worth $23,336,000 after buying an additional 99,664 shares during the last quarter. 50.38% of the stock is owned by hedge funds and other institutional investors.

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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