Shares of Cedar Fair, L.P. (NYSE:FUN – Get Free Report) saw unusually-high trading volume on Wednesday after Oppenheimer raised their price target on the stock from $49.00 to $67.00. Oppenheimer currently has an outperform rating on the stock. Approximately 367,645 shares traded hands during trading, a decline of 9% from the previous session’s volume of 403,620 shares.The stock last traded at $55.40 and had previously closed at $54.89.
A number of other analysts have also recently commented on the stock. Morgan Stanley upped their price objective on shares of Cedar Fair from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial upped their price objective on shares of Cedar Fair from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, May 10th. B. Riley upped their price objective on shares of Cedar Fair from $52.00 to $59.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Mizuho lowered their target price on Cedar Fair from $56.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, StockNews.com initiated coverage on Cedar Fair in a report on Tuesday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Cedar Fair currently has a consensus rating of “Moderate Buy” and an average price target of $53.90.
Check Out Our Latest Analysis on FUN
Hedge Funds Weigh In On Cedar Fair
Cedar Fair Trading Up 3.1 %
The company’s 50 day moving average is $45.12 and its 200-day moving average is $42.02. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 23.28 and a beta of 1.53.
Cedar Fair (NYSE:FUN – Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.07). Cedar Fair had a negative return on equity of 22.94% and a net margin of 6.95%. The firm had revenue of $101.62 million for the quarter, compared to the consensus estimate of $91.97 million. Research analysts expect that Cedar Fair, L.P. will post 3.47 EPS for the current year.
Cedar Fair Dividend Announcement
The firm also recently declared a Variable dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 28th were given a $1.53 dividend. The ex-dividend date was Friday, June 28th. Cedar Fair’s payout ratio is 49.38%.
About Cedar Fair
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.
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