Jim Cramer on Cedar Fair (FUN) Stock: 'No Problem Buying It Now'

Updated 2:05 p.m. with current stock price.

NEW YORK (TheStreet) -- Shares of Cedar Fair  (FUN) rose 2.36% to $57.76 in afternoon trading Friday after Jim Cramer suggested on Mad Money on CNBC that investors pick up the stock.

The amusement park company reported first-quarter earnings on Wednesday and posted a net loss of $1.50 per limited partner unit on revenue of $46.817 million. Analysts polled by Thomson Reuters had expected a loss of $1.28 per LP unit on revenue of $42 million.

Cedar Fair also declared a quarterly cash distribution of 75 cents per LP unit payable on June 15. Furthermore, it is now targeting adjusted EBITDA of $500 million or more by 2018.

Cramer said during his show Thursday night that he has "no problem buying Cedar Fair now."

"Yield matters, matters a lot, and they have it," he added on Friday morning. Cedar Fair has a dividend yield of 5.31%.

Separately, TheStreet Ratings team rates CEDAR FAIR -LP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CEDAR FAIR -LP (FUN) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

You can view the full analysis from the report here: FUN Ratings Report

FUN ChartFUN data by YCharts

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