Vail Resorts (NYSE:MTN) Shares Gap Up Following Better-Than-Expected Earnings

Vail Resorts, Inc. (NYSE:MTN)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $153.58, but opened at $162.27. Vail Resorts shares last traded at $164.38, with a volume of 148,528 shares traded.

The company reported $6.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.29 by $0.27. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. Vail Resorts had a net margin of 8.07% and a return on equity of 21.90%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $5.76 earnings per share.

Analysts Set New Price Targets

MTN has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Vail Resorts from $176.00 to $166.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Vail Resorts in a report on Monday. Macquarie raised their price objective on Vail Resorts from $180.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 11th. Barclays restated an “underweight” rating and set a $152.00 target price (down from $165.00) on shares of Vail Resorts in a research note on Monday. Finally, UBS Group assumed coverage on Vail Resorts in a research note on Thursday, November 14th. They set a “neutral” rating and a $185.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Vail Resorts has an average rating of “Hold” and an average price target of $198.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MTN. Capital Performance Advisors LLP acquired a new position in shares of Vail Resorts in the third quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in shares of Vail Resorts during the 4th quarter valued at about $33,000. Blue Trust Inc. lifted its holdings in shares of Vail Resorts by 246.7% during the 4th quarter. Blue Trust Inc. now owns 208 shares of the company’s stock worth $36,000 after acquiring an additional 148 shares during the period. Eagle Bay Advisors LLC purchased a new position in shares of Vail Resorts in the 4th quarter worth $40,000. Finally, GeoWealth Management LLC grew its position in Vail Resorts by 162.2% during the fourth quarter. GeoWealth Management LLC now owns 291 shares of the company’s stock valued at $55,000 after acquiring an additional 180 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Vail Resorts Price Performance

The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 3.64. The company has a 50 day simple moving average of $168.90 and a 200 day simple moving average of $176.04.

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.