Are u ready for some $FUN? we have the CEO on tonight at 6p & 11pE! on Mad Money CNBC would you buy or sell #FUN ? RT
Cedar Fair, L.P. is a limited partnership managed by Cedar Fair Management, Inc. (the General Partner). -- Cedar Fair (NYSE:FUN) has been downgraded by TheStreet Ratings from buy to hold. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and generally higher debt management risk. Leading up to Cedar Fair, L.P.’s (FUN) announcement of its first quarter earnings on Wednesday, May 8, 2013, analysts have become more bullish as expectations have improved over the past month from a loss of $1.15 per share to the current projection of a loss of $1.11 per share.
The consensus estimate has moved down from a loss of 95 cents over the past three months. Analysts are expecting earnings of $2.32 per share for the fiscal year. Revenue is expected to be $30 million for the quarter, 6.3% higher than the year-earlier total of $28.2 million. For the year, revenue is expected to come in at $1.11 billion.
For the past two quarters, the company has seen falling revenue. In the fourth quarter of the last fiscal year, revenue declined 10.8% to $129.2 million from the year earlier quarter. In the third quarter of the last fiscal year, the figure fell 3.3%
The Company, along with its affiliated companies (the Partnership), is an amusement park operator, which owns 11 amusement parks, six outdoor water parks, one indoor water park and five hotels. The 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 and California's Great America (Great America) located in Santa Clara, California
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