It’s right around the corner. With Memorial Day, the unofficial start to the summer season behind us, the first real day of the new season is a short three weeks away on Thursday, June 21. With school soon to be out in most parts of the country, families are getting ready for the annual exodus to all points north, south, east and west for fun and vacations. With gasoline prices rising, but still not too onerous, you can bet that even more families will be hitting the road or the skies for destination vacations.
In addition, many homeowners are getting ready for summer projects to enhance the value and enjoyment of home ownership, and that caters well to the big retailers that fill the needs of gardeners, home repair enthusiasts and more.
We screened our 24/7 Wall St. research database and found a host of top companies that should do great over the next 90 days. Many are rated Buy by the top firms we cover.
Plenty of families will be heading to this top company’s theme parks this summer. Cedar Fair L.P. (NYSE: FUN) is an operator of regional amusement parks. It operates within a segment of amusement/water parks with accompanying resort facilities. As of December 31, 2016, the company owned approximately 11 amusement parks, two separately gated 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; Knott’s Berry Farm, near Los Angeles, California; Canada’s Wonderland, near Toronto, Canada; Kings Island, near Cincinnati, Ohio; Carowinds, in Charlotte, North Carolina; Dorney Park & Wildwater Kingdom (Dorney Park), in Allentown, Pennsylvania; Kings Dominion, near Richmond, Virginia; California’s Great America, in Santa Clara, California; Valleyfair, near Minneapolis/St. Paul, Minnesota; Worlds of Fun, in Kansas City, Missouri; and Michigan’s Adventure, in Muskegon, Michigan. It also manages and operates Gilroy Gardens Family Theme Park in Gilroy, California.
Cedar Fair investors are paid a sizable 5.4% distribution. Stifel has a Buy rating and a $78 price target on the shares. The Wall Street consensus target price is $75.33, and the stock closed last Friday at $65.98 a share.
This top consumer media company has multiple streams of income to push revenue, and it is a top pick at RBC. Walt Disney Co. (NYSE: DIS) stock continues outperforming on a near-term and long-term basis. With the movie studio business poised to improve, as with accelerating theme park business, the network programming continues to drive viewership with extensive sports programming. Combining that revenue growth with the company’s solid media networks and interactive presence, and 2018 revenue estimates could be conservative.
Many on Wall Street feel that the company’s distribution leverage and optionality, as well as its concentration of valuable intellectual property, will only improve with the acquisition of 21st Century Fox assets. Although, it should be noted that Comcast looks prepared to counter the Disney bid. Another plus is Disney’s continued impressive theatrical momentum.
Shareholders of Disney are paid a 1.64% dividend. The RBC price target for the stock is $135, which compares to the consensus target of $119.08. Shares closed most recently at $102.20 apiece.
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