|Bid||32.69 x 1000|
|Ask||32.87 x 1100|
|Day's range||31.72 - 33.36|
|52-week range||13.00 - 64.86|
|Beta (5Y monthly)||1.90|
|PE ratio (TTM)||46.22|
|Earnings date||05 Aug 2020 - 10 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||03 Mar 2020|
|1y target est||36.19|
Cedar Fair (NYSE: FUN) could be the most attractive stock for investors looking to bet on a rebound in the battered theme park industry niche. Goldman Sachs analyst Stephen Grambling started coverage on the sector by singling out the regional park specialist with a buy rating and a $43 price target, equating to a 30% return from current levels.
Cedar Fair Expands Its Suite of Mobile Apps to Promote a Healthy, Smart and Fun-Filled Guest Experience When Parks Reopen
The business of Cedar Fair (NYSE: FUN) was trending higher in the months preceding the COVID-19 pandemic closures. Knott's Berry Farm notched a record start to the year through early March, which helped push overall attendance higher by 19%. The first quarter is usually a low point for Cedar Fair's business anyway, with all parks besides Knott's Berry Farm closed through the winter season.
KlaymanToskes ("KT"), www.klaymantoskes.com, announced today that it is investigating damages sustained by current and former employees and investors of Cedar Fair (NYSE:FUN) who held large, unhedged concentrated positions in Cedar Fair stock and/or received margin calls resulting in the forced sale of stock. The recent losses were the result of unsuitable advice during the Coronavirus ("COVID-19") pandemic. The investigation focuses on full-service brokerage firms’ negligence and failure to supervise the management of concentrated, leveraged positions in Cedar Fair stock.
Ever since passengers started getting stranded in quarantine situations on cruise ships back in February due to the coronavirus outbreaks, it was clear the cruise ship industry would suffer a major blow. Cruise ships -- with their crowded living spaces, constant exposure to new lands and people, and limited medical facilities and supplies -- are nearly perfect breeding grounds for the highly contagious virus. Carnival (NYSE: CCL), Royal Caribbean (NYSE: RCL), and Norwegian Cruise Line Holdings (NYSE: NCLH) have been forced to halt cruises as a result of efforts to halt the pandemic following multiple outbreaks of COVID-19 aboard their ships.
Six Flags is requiring online reservations. Cedar Point is selling two years of access for the price of one. Disney, SeaWorld, and Universal are bracing for dramatically lower capacity levels to satisfy social distancing.
Shares of Cedar Fair (NYSE: FUN) rose a whopping 57.3% in April, according to data provided by S&P Global Market Intelligence. The disparate monthly moves seem fitting for a company with roller coasters in its amusement parks, although it's surely not amusing for shareholders who are still down over 50% year to date. Cedar Fair's stock obviously dropped in March because of the COVID-19 pandemic.
Amusement parks got a shot in the arm as investors started to think about a future beyond the COVID-19 shutdown.