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Shares of Six Flags Entertainment Corp. SIX and Cedar Fair Entertainment Co. FUN are rising following a report in the Wall Street Journal that the regional theme-park operators could announce a merger as soon as this week. Six's stock is up 1.5% on Wednesday, while shares of Cedar Fair have climbed 5.6%.
An agreement between two of the largest regional-theme-park chains in the U.S. could be unveiled this week.
Business is typically booming at theme parks over the summer. This year, the weather has consistently put a damper on operations.
Major theme parks are getting pummeled by bad weather from excessive rain, heat and even smoke from the Canadian wildfires, which is hurting traffic.
Cedar Fair trades at a historically low P/E ratio of 8.6. Crocs recently announced a $1 billion share repurchasing program.
There are near-term concerns for Frontier Communications, Cedar Fair, and Pool Corp. this week. Frontier and Cedar Fair report quarterly results this week.
SANDUSKY, Ohio--(BUSINESS WIRE)--Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, said today it will issue its 2023 second-quarter financial results in the pre-market hours of Thursday, Aug. 3, 2023. Later that morning, Cedar Fair management will host a conference call with the investment community, starting at 10 a.m. EDT, to provide additional details regarding 2023 second-quarter results and discuss the Company's bus.
Cedar Fair recently restarted its dividend after COVID troubles. Home Depot has paid a dividend for 36 consecutive years.
Goldman Sachs has initiated coverage of Six Flags with a sell rating, concerned about its turnaround strategy. Cedar Fair and SeaWorld Entertainment were initiated with buy ratings.
The consumer sector was beaten down in 2022. That's because many Americans began to pull back spending due to rising inflation.