Analysts Set Expectations for Cedar Fair, L.P.’s Q1 2019 Earnings (NYSE:FUN)

Cedar Fair, L.P. (NYSE:FUN) – Equities research analysts at B. Riley issued their Q1 2019 earnings estimates for Cedar Fair in a report issued on Thursday, March 28th, Zacks Investment Research reports. B. Riley analyst E. Wold anticipates that the company will post earnings of ($1.44) per share for the quarter. B. Riley has a “Buy” rating and a $60.00 price objective on the stock. B. Riley also issued estimates for Cedar Fair’s Q2 2019 earnings at $0.96 EPS, Q3 2019 earnings at $3.49 EPS, Q4 2019 earnings at $0.30 EPS, Q3 2020 earnings at $3.65 EPS and FY2021 earnings at $3.78 EPS.

Cedar Fair (NYSE:FUN) last posted its quarterly earnings results on Wednesday, February 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.59). The business had revenue of $249.80 million during the quarter, compared to the consensus estimate of $243.23 million. Cedar Fair had a net margin of 9.39% and a return on equity of 22,432.99%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $1.01 EPS.

FUN has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Cedar Fair from a “buy” rating to a “hold” rating in a report on Saturday, January 19th. Macquarie raised shares of Cedar Fair from a “neutral” rating to an “outperform” rating in a report on Friday, February 15th. SunTrust Banks reaffirmed a “hold” rating and set a $54.00 target price on shares of Cedar Fair in a report on Monday, December 24th. Finally, TheStreet lowered shares of Cedar Fair from a “b-” rating to a “c” rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $60.83.

Cedar Fair stock traded up $0.63 during midday trading on Friday, reaching $53.81. 112,590 shares of the stock were exchanged, compared to its average volume of 156,879. The company has a current ratio of 0.85, a quick ratio of 0.72 and a debt-to-equity ratio of 51.13. The firm has a market capitalization of $3.04 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.72 and a beta of 0.57. Cedar Fair has a 52 week low of $45.73 and a 52 week high of $67.85.

Large investors have recently modified their holdings of the company. PRW Wealth Management LLC bought a new position in shares of Cedar Fair in the 4th quarter worth $34,000. CWM LLC bought a new position in shares of Cedar Fair in the 4th quarter worth $65,000. First Manhattan Co. increased its holdings in shares of Cedar Fair by 166.7% in the 4th quarter. First Manhattan Co. now owns 1,600 shares of the company’s stock worth $75,000 after buying an additional 1,000 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Cedar Fair by 26.7% in the 4th quarter. Advisory Services Network LLC now owns 2,049 shares of the company’s stock worth $97,000 after buying an additional 432 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Cedar Fair by 11.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,278 shares of the company’s stock valued at $155,000 after purchasing an additional 344 shares in the last quarter. 51.19% of the stock is currently 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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Earnings History and Estimates for Cedar Fair (NYSE:FUN)

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