What Can We Expect After Cedar Fair (NYSE:FUN)’s Downgrade By Macquarie?

July 13, 2018 - By Michele Cranor

Cedar Fair, L.P. (NYSE:FUN) Logo

Investors sentiment decreased to 1.03 in Q1 2018. Its down 0.04, from 1.07 in 2017Q4. It is negative, as 20 investors sold Cedar Fair, L.P. shares while 47 reduced holdings. 20 funds opened positions while 49 raised stakes. 27.90 million shares or 0.25% more from 27.83 million shares in 2017Q4 were reported.

Goldman Sachs Gru holds 773,425 shares. Bb&T Securities Llc reported 0% in Cedar Fair, L.P. (NYSE:FUN). Glenmede Tru Com Na accumulated 42,332 shares. California Pub Employees Retirement reported 0.01% of its portfolio in Cedar Fair, L.P. (NYSE:FUN). Hl Financial Limited Liability Com, Kentucky-based fund reported 11,409 shares. Optimum Inv Advsr invested in 0.03% or 1,349 shares. Savings Bank Of America De stated it has 51,026 shares or 0% of all its holdings. First Manhattan invested in 300 shares. Osterweis Capital Mgmt holds 1.73% of its portfolio in Cedar Fair, L.P. (NYSE:FUN) for 380,383 shares. Cambridge Invest Research Advsrs holds 11,056 shares. Arrowstreet Ltd Partnership invested in 6,310 shares or 0% of the stock. Mckinley Carter Wealth Svcs Inc invested in 0.05% or 2,182 shares. Kornitzer Ks holds 0.01% or 6,775 shares. Boston reported 0.03% of its portfolio in Cedar Fair, L.P. (NYSE:FUN). Guggenheim Ltd Limited Liability Company holds 15,622 shares or 0% of its portfolio.

Since January 17, 2018, it had 0 insider purchases, and 3 sales for $528,512 activity.

Cedar Fair (NYSE:FUN) Receives a Downgrade

Macquarie cut shares of Cedar Fair (NYSE:FUN) stock from a “Outperform” rating to a “Neutral” rating in a note made public on 13 July.

Cedar Fair, L.P. (NYSE:FUN) Ratings Coverage

Among 4 analysts covering Cedar Fair (NYSE:FUN), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Cedar Fair has $77.0 highest and $70.0 lowest target. $75.25’s average target is 25.63% above currents $59.9 stock price. Cedar Fair had 4 analyst reports since January 15, 2018 according to SRatingsIntel. The stock of Cedar Fair, L.P. (NYSE:FUN) earned “Buy” rating by Stifel Nicolaus on Thursday, February 15. KeyBanc Capital Markets maintained Cedar Fair, L.P. (NYSE:FUN) on Wednesday, February 14 with “Buy” rating.

The stock increased 1.42% or $0.84 during the last trading session, reaching $59.9. About 187,056 shares traded or 28.26% up from the average. Cedar Fair, L.P. (NYSE:FUN) has declined 7.32% since July 13, 2017 and is downtrending. It has underperformed by 19.89% the S&P500.

Analysts await Cedar Fair, L.P. (NYSE:FUN) to report earnings on August, 1. They expect $1.06 EPS, up 29.27 % or $0.24 from last year’s $0.82 per share. FUN’s profit will be $59.80 million for 14.13 P/E if the $1.06 EPS becomes a reality. After $-1.27 actual EPS reported by Cedar Fair, L.P. for the previous quarter, Wall Street now forecasts -183.46 % EPS growth.

Cedar Fair, L.P. owns and operates amusement and water parks, and hotels in the United States and Canada. The company has market cap of $3.38 billion. As of February 15, 2017, the firm operated approximately 11 amusement parks, 2 outdoor water parks, 1 indoor water park, and 5 hotels. It has a 17.32 P/E ratio. The Company’s 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.

More notable recent Cedar Fair, L.P. (NYSE:FUN) news were published by: Seekingalpha.com which released: “Cedar Fair -8% after soft attendance report” on July 11, 2018, also Bizjournals.com with their article: “Environmental group thrown for a loop when state changes limits on Worlds of Fun pollutants” published on July 09, 2018, Fool.com published: “What Happened in the Stock Market Today” on July 11, 2018. More interesting news about Cedar Fair, L.P. (NYSE:FUN) were released by: Globenewswire.com and their article: “Cedar Fair Announces 2018 Second-Quarter Earnings Conference Call” published on July 09, 2018 as well as Seekingalpha.com‘s news article titled: “Cedar Fair Drops 8% On Disappointing Q2 Results” with publication date: July 11, 2018.

Cedar Fair, L.P. (NYSE:FUN) Institutional Positions Chart

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