Cedar Fair, L.P. (NYSE:FUN) – Analysts at B. Riley raised their Q1 2018 earnings per share estimates for Cedar Fair in a report released on Thursday. B. Riley analyst B. Crockett now expects that the company will post earnings per share of ($1.44) for the quarter, up from their previous estimate of ($1.55). B. Riley has a “Buy” rating on the stock.
Cedar Fair (NYSE:FUN) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.81. The firm had revenue of $228.20 million during the quarter, compared to analysts’ expectations of $222.34 million. Cedar Fair had a net margin of 16.30% and a negative return on equity of 2,115.11%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.12) earnings per share.
Shares of Cedar Fair (NYSE:FUN) opened at $68.62 on Monday. The company has a market cap of $3,859.05, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 3.28 and a beta of 0.45. The company has a debt-to-equity ratio of 22.05, a current ratio of 1.18 and a quick ratio of 1.06. Cedar Fair has a 12 month low of $59.66 and a 12 month high of $72.56.
In other news, CEO Matthew A. Ouimet sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $67.91, for a total transaction of $407,460.00. Following the completion of the sale, the chief executive officer now owns 215,353 shares in the company, valued at approximately $14,624,622.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Matthew A. Ouimet sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $64.69, for a total transaction of $129,380.00. Following the sale, the insider now owns 243,057 shares of the company’s stock, valued at approximately $15,723,357.33. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FUN. Bank of New York Mellon Corp lifted its stake in shares of Cedar Fair by 4.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,212 shares of the company’s stock worth $304,000 after buying an additional 175 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Cedar Fair by 12.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,404 shares of the company’s stock worth $1,111,000 after buying an additional 1,749 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Cedar Fair by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,718 shares of the company’s stock worth $124,000 after buying an additional 108 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Cedar Fair by 3.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 16,531 shares of the company’s stock worth $1,192,000 after buying an additional 517 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in shares of Cedar Fair by 10.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,660 shares of the company’s stock worth $120,000 after buying an additional 160 shares during the last quarter. Institutional investors own 51.83% of the company’s stock.
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Cedar Fair 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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