Media stories about Cedar Fair, L.P. (NYSE:FUN) have been trending positive recently, according to Alpha One Sentiment. The research firm, a unit of Accern, ranks the sentiment of news coverage by monitoring more than twenty million news and blog sources in real-time. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Cedar Fair, L.P. earned a daily sentiment score of 0.28 on Alpha One’s scale. Alpha One also assigned news headlines about the company an impact score of 100 out of 100, indicating that recent news coverage is extremely likely to have an impact on the stock’s share price in the next several days.
Here are some of the news headlines that may have effected Alpha One’s rankings:
- Cedar Fair, L.P. (NYSE:FUN) ERP5 – A Look at Valuation – Concord Register (concordregister.com)
- Cedar Fair, L.P. (FUN) Receives Consensus Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- Insider Selling: Cedar Fair, L.P. (FUN) CEO Sells 15,000 Shares of Stock (americanbankingnews.com)
- Equity in Focus: Cedar Fair, L.P. (NYSE:FUN) – Business Daily (oxfordbusinessdaily.com)
- Wedbush Equities Analysts Increase Earnings Estimates for Cedar Fair, L.P. (FUN) (forextv.com)
Cedar Fair, L.P. (NYSE:FUN) traded up 1.22% during mid-day trading on Friday, reaching $70.54. The company had a trading volume of 63,085 shares. The company’s 50-day moving average is $69.84 and its 200-day moving average is $65.36. The stock has a market capitalization of $3.97 billion, a PE ratio of 24.76 and a beta of 0.74. Cedar Fair, L.P. has a one year low of $56.17 and a one year high of $72.56.
Cedar Fair, L.P. (NYSE:FUN) last posted its earnings results on Wednesday, May 3rd. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by $0.04. The company had revenue of $48.30 million for the quarter, compared to analysts’ expectations of $53.62 million. Cedar Fair, L.P. had a return on equity of 768.42% and a net margin of 12.57%. The company’s revenue was down 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.87) EPS. Equities research analysts anticipate that Cedar Fair, L.P. will post $3.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, June 5th will be given a dividend of $0.855 per share. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $3.42 annualized dividend and a dividend yield of 4.85%. Cedar Fair, L.P.’s dividend payout ratio is currently 122.14%.
A number of research analysts have weighed in on FUN shares. Zacks Investment Research downgraded Cedar Fair, L.P. from a “hold” rating to a “sell” rating in a research note on Monday, April 24th. Goldman Sachs Group Inc began coverage on Cedar Fair, L.P. in a research report on Thursday, April 6th. They issued a “buy” rating and a $81.00 price objective for the company. Stifel Nicolaus began coverage on Cedar Fair, L.P. in a research report on Thursday, April 20th. They issued a “buy” rating and a $78.00 price objective for the company. SunTrust Banks, Inc. began coverage on Cedar Fair, L.P. in a research report on Wednesday, April 12th. They issued a “hold” rating and a $72.00 price objective for the company. Finally, Janney Montgomery Scott reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Cedar Fair, L.P. in a research report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Cedar Fair, L.P. currently has an average rating of “Buy” and a consensus price target of $72.89.
In other Cedar Fair, L.P. news, CMO Kelley Semmelroth sold 5,419 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $68.48, for a total transaction of $371,093.12. Following the sale, the chief marketing officer now owns 34,930 shares in the company, valued at $2,392,006.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Matthew A. Ouimet sold 15,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $70.15, for a total value of $1,052,250.00. Following the sale, the chief executive officer now owns 220,499 shares in the company, valued at approximately $15,468,004.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,419 shares of company stock worth $2,036,513. Company insiders own 1.90% of the company’s stock.
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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