Shares of Cedar Fair Entertainment Co. (FUN) have slipped more than 7% so far today after second-results came in behind Wall Street expectations.
The amusement park operator reported earnings of 13 cents per share, missing the Zacks Consensus Estimate by a significant margin of 56.7%. The company posted earnings of 26 cents per share in the year-ago quarter.
Revenue dropped nearly 11% to $264.1 million as recessionary-weary customers reduced discretionary spending.
Meanwhile, the full-year Zacks Consensus Estimate, derived from 4 covering analysts, has remained steady at $1.37 per share over the past 3 months.
FUN, a Zacks #3 Rank (“Hold”) stock, is trading on volume of approximately 213,000, which is well above the average daily volume of about 132,000.
“FUN” Free Stock Analysis: Buy? Sell? Hold?
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