On May 26, 2023 Cedar Fair (NYSE:FUN) opened at $44.05, displaying its 52 week high and low of $49.40 and $37.58, respectively. The fifty day moving average stands at $43.38 and its two-hundred day moving average rests at $42.67. With a market capitalization of $2.26 billion, a P/E ratio of 9.99 and a beta of 1.45, Cedar Fair is set to make waves in the world of entertainment.
The company has received praise from several analysts over the past few months for its strong performance -Credit Suisse Group even boosted their price target from $41 to $46 citing a “neutral” rating in a research note on Friday February 17th-, but it was Deutsche Bank Aktiengesellschaft who raised eyebrows all over Wall Street when they raised Cedar Fair’s price objective from $54 to an astonishing $61 on the same day.
Stifel Nicolaus also joined in the fray by raising the company’s price target from $50 to $57 while Rosenblatt Securities increased theirs from $41 to $45 marking it as “neutral”. Alongside those ratings were three hold ratings by other equities research analysts.
Despite holding down nine analyst ratings with a moderate buy consensus target price of roughly around$52 or more, Cedar Fair still manages to treat stockholders well after revealing that they settled on a dividend payout ratio of just over twenty seven percent following its most recently announced quarterly dividend. This means that shareholders who maintain ownership prior to Wednesday June 7th will get paid dividends beginning Wednesday June 21st; each individual stockholder receiving exactly thirty cents per share as part of this announcement.
Cedar Fair is already cultivating quite an impressive following within its industry and with consistent high marks from reputable analysts; it certainly seems like it’s only poised for much more greatness in the years to come.
Cedar Fair, L.P.: A Promising Investment Opportunity with Positive Earnings Projections
Cedar Fair, L.P. (NYSE:FUN) stands as one of the most promising companies in the economic market, according to a recent report by KeyCorp. The equity research analysts at KeyCorp have released their Q2 2024 EPS estimates for shares of Cedar Fair on May 24th, forecasting an estimate that declared the company would post earnings of $1.38 per share for the quarter. The famous amusement park has long been a favorite among families worldwide and remains one of the leading chains in its industry. It seems logical for investors to have faith in this exciting venture.
KeyCorp currently has an “Overweight” rating and a $54.00 target price on Cedar Fair’s stock, offering investors an ample opportunity to profit through investment. While it’s reasonable to consider this a solid bet with high chances of success, it’s important to note that any investments should always be made with an expert opinion or a deep understanding of market trends and events.
Prestigious investment firms such as Money Concepts Capital Corp, Lakewood Asset Management LLC, U.S. Capital Wealth Advisors LLC, Tower Research Capital LLC TRC, and PenderFund Capital Management Ltd., among others, have recently acquired positions in Cedar Fair during various quarters and years revealing other investors’ confidence in the growth prospects and future performance of Cedar Fair.
According to current estimates for Cedar Fair’s full-year earnings may reach approximately $3.22 per share due largely to strong performances expected from Q3 2024 earnings ($4.45 EPS), while Q4 shows $0.32 EPS; thereby making their FY2024 Earnings projections worth approximately $3.85 EPS.
With so much positive outlook from analytical reports along with recent attraction by well-known institutional investors coupled with investor visibility & trust concerning post-pandemic travel trends reaching pre-pandemic numbers again over time—all make for areas needing exploration towards potential profitable partnerships or acquisitions; Cedar Fair’s future seems bright. Time will tell how successful Cedar Fair is in pulling off its growth strategy, but investors should take note of this company as it moves forward into the coming years.
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