Vail Resorts (NYSE:MTN) issued its quarterly earnings data on Friday. The company reported ($2.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.44) by ($0.22), Bloomberg Earnings reports. The company had revenue of $220.00 million during the quarter, compared to the consensus estimate of $235.08 million. Vail Resorts had a net margin of 18.89% and a return on equity of 14.43%. Vail Resorts’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned ($2.00) earnings per share.
Shares of MTN opened at $271.77 on Friday. The stock has a market capitalization of $10.91 billion, a PE ratio of 43.21 and a beta of 0.53. Vail Resorts has a fifty-two week low of $200.68 and a fifty-two week high of $302.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.91.
In related news, EVP Kirsten A. Lynch sold 9,078 shares of the firm’s stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $263.06, for a total transaction of $2,388,058.68. Following the transaction, the executive vice president now directly owns 34,641 shares of the company’s stock, valued at $9,112,661.46. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter A. Vaughn sold 400 shares of the firm’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $254.59, for a total transaction of $101,836.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd increased its position in Vail Resorts by 144.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 386 shares of the company’s stock worth $106,000 after acquiring an additional 228 shares during the period. Almanack Investment Partners LLC. acquired a new stake in Vail Resorts during the second quarter worth about $122,000. Tower Research Capital LLC TRC grew its stake in Vail Resorts by 56.0% during the second quarter. Tower Research Capital LLC TRC now owns 504 shares of the company’s stock worth $138,000 after buying an additional 181 shares in the last quarter. GWM Advisors LLC acquired a new stake in Vail Resorts during the third quarter worth about $206,000. Finally, FDx Advisors Inc. acquired a new stake in Vail Resorts during the second quarter worth about $206,000. 95.39% of the stock is currently owned by institutional investors and hedge funds.
MTN has been the topic of several research analyst reports. Macquarie lowered shares of Vail Resorts from an “outperform” rating to a “neutral” rating and set a $300.00 price objective on the stock. in a research report on Wednesday, September 5th. They noted that the move was a valuation call. ValuEngine lowered shares of Vail Resorts from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. Zacks Investment Research lowered shares of Vail Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. KeyCorp increased their price objective on shares of Vail Resorts from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 1st. Finally, Berenberg Bank raised shares of Vail Resorts from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $293.11.
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About Vail Resorts
Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and urban ski areas in the United States. The company operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 11 mountain resorts, including Vail Mountain, Breckenridge Ski, Keystone, and Beaver Creek resorts in Colorado; Park City resort in Utah; Heavenly Mountain, Northstar, and Kirkwood Mountain resorts in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in Canada; Stowe Mountain resort in Vermont; and Perisher in Australia, as well as 3 urban ski areas, such as Wilmot Mountain in Wisconsin, Afton Alps in Minnesota, and Mount Brighton in Michigan.
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