Vail Resorts tumbles on missing Q3 profit estimates

Vail Resorts

07/06/2024 16:02

(updates)
    ** Vail Resorts'  MTN.N  shares down ~14% at $166.3 in early
trading
        ** On Thursday, company posted EPS of $9.54 for quarter
ended April 30, vs est. of $9.97 - LSEG data
  
    ** Normalizing industry trends, saturation of company's
season pass model, pricing push back seen as headwinds for Vail
- JPM
    ** Deustche Bank flags "inflation fatigue among
budget-conscious visitors"
    ** Four of 12 brokerages rate stock "buy" or higher, six
"hold" and two "sell"; median PT $219
    ** Vail shares down ~9% YTD
                                
 Brokerage             New PT       Old
                                PT
                                
                                
             J.P.               
 Morgan                $176     
                                $217
                                
                                
             Morgan             
 Stanley               $179     
                                $229
                                
                                
             Mizuho             
 Securities            $231     
                                $256
                                
                                
             Truist             
 Securities            $250     
                                $265
                                
                                
                                
 Deustche Bank         $218     
                                $226
                                
                                
 
 (Reporting by Nathan Gomes and Aishwarya Jain in Bengaluru)
 ((Nathan.Gomes@thomsonreuters.com))