Vail Resorts, Inc. (NYSE:MTN – Get Free Report) shares traded down 4.8% on Friday following a weaker than expected earnings announcement. The company traded as low as $230.50 and last traded at $230.51. 78,901 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 394,905 shares. The stock had previously closed at $242.25.
The company reported ($3.35) EPS for the quarter, missing analysts’ consensus estimates of ($3.28) by ($0.07). The business had revenue of $269.77 million during the quarter, compared to the consensus estimate of $282.26 million. Vail Resorts had a return on equity of 17.00% and a net margin of 9.98%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the business posted ($2.70) EPS.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MTN. Deutsche Bank Aktiengesellschaft dropped their price target on Vail Resorts from $256.00 to $254.00 in a research note on Friday, June 9th. Bank of America raised their price target on Vail Resorts from $250.00 to $285.00 in a research note on Friday, June 9th. Truist Financial upgraded Vail Resorts from a “hold” rating to a “buy” rating and raised their price target for the stock from $263.00 to $290.00 in a research note on Thursday, September 7th. They noted that the move was a valuation call. 3M restated a “maintains” rating on shares of Vail Resorts in a research note on Friday, June 9th. Finally, Stifel Nicolaus upgraded Vail Resorts from a “hold” rating to a “buy” rating and set a $268.00 price target on the stock in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $271.33.
Hedge Funds Weigh In On Vail Resorts
Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in Vail Resorts by 21.8% during the first quarter. American Century Companies Inc. now owns 1,565 shares of the company’s stock valued at $407,000 after acquiring an additional 280 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Vail Resorts by 7.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 876 shares of the company’s stock valued at $228,000 after acquiring an additional 63 shares during the period. Private Advisor Group LLC raised its holdings in Vail Resorts by 4.4% during the first quarter. Private Advisor Group LLC now owns 1,811 shares of the company’s stock valued at $471,000 after acquiring an additional 76 shares during the period. MetLife Investment Management LLC bought a new stake in Vail Resorts during the first quarter valued at about $672,000. Finally, Panagora Asset Management Inc. bought a new stake in Vail Resorts during the first quarter valued at about $691,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
Vail Resorts Trading Down 4.5 %
The company has a quick ratio of 1.40, a current ratio of 1.50 and a debt-to-equity ratio of 1.73. The stock has a fifty day simple moving average of $235.53 and a 200 day simple moving average of $238.61. The firm has a market capitalization of $8.92 billion, a P/E ratio of 33.45, a PEG ratio of 1.95 and a beta of 1.19.
About Vail Resorts
Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.