Cedar Fair
New York symbol FUN, is a Master Limited Partnership that owns amusement parks, water parks and hotels.
CEDAR FAIR L.P. $25 (New York symbol FUN; Income Portfolio, Consumer sector; Units outstanding: 55.4 million; Market cap: $1.4 billion; Price-to-sales ratio: 1.4; Dividend yield: 6.4%; TSINetwork Rating: Average; www.cedarfair.com) had a record 23.4 million visitors at its amusement parks, water parks and hotels in 2011. That’s up 2.6% from 22.8 million in 2010.
As a result, the partnership estimates that …read more »
THE JONES GROUP INC. $10 (New York symbol JNY; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 85.9 million; Market cap: $859.0 million; Price-to-sales ratio: 0.3; Dividend yield: 2.0%; TSINetwork Rating: Average; www.jonesgroupinc.com) has completed its $350-million purchase of Kurt Geiger, a U.K.-based company that owns and operates 49 shoe stores in Europe. It also sells its products in upscale department …read more »
QUAKER CHEMICAL CORP. $30 (www.quakerchem.com) has paid $10.5 million for the 60% of its joint venture in Mexico that it did not already own. It may have to pay an additional $2 million in July 2012, depending on certain circumstances. To put these figures in context, Quaker earned $9.8 million, or $0.79 a share, in the second quarter of 2011. …read more »
Cedar Fair L.P., symbol FUN on New York, owns and operates 11 amusement parks including Knott’s Berry Farm in California and Canada’s Wonderland, six outdoor water parks, one indoor water park and five hotels.
For 2010, the U.S. stock’s revenue jumped 6.7%, to $977.6 million from $916.1 million in 2009. Park attendance rose 7.8%, and revenue from the company’s …read more »
CEDAR FAIR L.P. $20 (www.cedarfair.com) lost $31.6 million, or $0.57 a unit, in 2010, mainly due to $98.1 million in charges related to the early repayment of debt and a writedown of fixed assets. In 2009, it earned $35.4 million, or $0.63 a unit. Revenue in 2010 rose 6.7%, to a record $977.6 million from $916.1 million, thanks to a …read more »
MCCORMICK & CO. INC. $40 has agreed to buy 26% of Eastern Condiments Private Ltd., a leading maker of spices and seasonings in India. The deal should close by the end of 2010. McCormick is paying $35 million for this stake; it earned $66.2 million, or $0.49 a share, in the three months ended May 31, 2010. India is the …read more »
CEDAR FAIR L.P. $7.84 (New York symbol FUN; Income Portfolio, Consumer sector; Units outstanding: 55.1 million; Market cap: $432 million; Price-to-sales ratio: 0.4; WSSF Rating: Average) owns amusement parks, water parks and hotels in the U.S. and Canada.
Cedar Fair pays quarterly distributions of $0.48 a unit, for a current yield of 24.5%. However, its $1.7- billion debt is a high …read more »
Buckeye and Cedar Fair operate in industries that are difficult to enter, which limits competition. This competitive advantage should continue to let both of them pay above-average distribution yields, despite the difficult economy.
BUCKEYE PARTNERS L.P. $37 (New York symbol BPL; Income Portfolio, Utilities sector; Units outstanding: 48.4 million; Market cap: $1.8 billion; Price-to-sales ratio: 0.9; WSSF Rating: Average) operates over …read more »
CEDAR FAIR L.P. $14 (New York symbol FUN; Income Portfolio, Consumer sector; Units outstanding: 55.1 million; Market cap: $771.4 million; WSSF Rating: Average) plans to spend $62 million on new rides and other attractions in 2009.
New attractions should help spur Cedar Fair’s attendance. Rising gasoline prices and a slowing housing market cut the number of visits by 3% in the …read more »
KRAFT FOODS INC. $33 (New York symbol KFT; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 1.5 billion; Market cap: $49.5 billion; WSSF Rating: Above average) has replaced troubled insurance provider American International Group Inc. in the Dow Jones Industrial Average. This 112-year-old index of 30 stocks is one of the most widely followed stock market indexes in the world. Many …read more »
