Cedar Fair L.P. (FUN) Releases Earnings Results, Beats Expectations By $0.26 EPS

Cedar Fair L.P. (FUN) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.87 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.26. Analysts had a consensus of $-1.13. The company posted revenue of $58.40 million in the period, compared to analysts expectations of $50.91 million. The company’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-1.50 EPS.

Many Wall Street Analysts have commented on Cedar Fair L.P.. Shares were Reiterated by FBR Capital on Feb 18, 2016 to “Outperform” and Lowered the Price Target to $ 60 from a previous price target of $64 .

Cedar Fair L.P. opened for trading at $58.5 and hit $58.92 on the upside on Monday, eventually ending the session at $58.61, with a gain of 0.93% or 0.54 points. The heightened volatility saw the trading volume jump to 90,905 shares. Company has a market cap of $3,283 M.

In a different news, on Mar 24, 2016, Craig J Freeman (Senior VP, Administration) sold 1,781 shares at $59.76 per share price. According to the SEC, on Feb 29, 2016, David R. Hoffman (Senior VP & CAO) purchased 10 shares at $57.46 per share price. On Feb 23, 2016, Kelley Semmelroth (Exec VP & CMO) sold 5,350 shares at $57.22 per share price, according to the Form-4 filing with the securities and exchange commission.

Cedar Fair L.P. is an operator of regional amusement parks. The Company owns 11 amusement parks three outdoor water parks one indoor water park and five hotels. Its amusement parks include Cedar Point located on Lake Erie between Cleveland and Toledo in Sandusky Ohio; Kings Island near Cincinnati Ohio; Canada’s Wonderland near Toronto Canada; Dorney Park & Wildwater Kingdom (Dorney Park) located near Allentown in South Whitehall Township Pennsylvania; Valleyfair located near Minneapolis/St. Paul in Shakopee Minnesota; Michigan’s Adventure located near Muskegon Michigan; Kings Dominion near Richmond Virginia; Carowinds in Charlotte North Carolina; Worlds of Fun located in Kansas City Missouri; Knott’s Berry Farm located near Los Angeles in Buena Park California and California’s Great America (Great America) located in Santa Clara California. The Company also manages and operates Gilroy Gardens Family Theme Park in Gilroy California.

Cedar Fair L.P.

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