Vail Resorts Inc. (NYSE:MTN) on Monday posted worse-than-expected third-quarter results.
Vail Resorts reported quarterly earnings of $8.81 per share, which missed the Street estimate of $9.20 by 4.24%. Quarterly sales of $1.21 billion, which missed the analyst consensus estimate of $1.22 billion and were down from $1.23 billion in the same period last year.
"Weather conditions remained extremely unfavorable in the third quarter, adding to what had already been one of the most challenging winters in history across the western U.S., driving continued pressure on visitation and revenue in the quarter, particularly at our destination resorts in the Rockies," CEO Rob Katz said.
Vail Resorts shares fell 5% to $130.52 on Tuesday.
These analysts made changes to their price targets on Vail Resorts following earnings announcement.
- Barclays analyst Brandt Montour maintained Vail Resorts with an Underweight rating and lowered the price target from $138 to $119.
- Stifel analyst Jeffrey Stantial maintained the stock with a Buy and lowered the price target from $172 to $167.
Considering buying MTN stock? Here’s what analysts think:
Photo via Shutterstock