Vail Resorts, Inc. (MTN) has been initiated today with coverage from the research analysts at Rodman & Renshaw. Renshaw begins this new coverage of Vail Resorts witha performance outlook rating “market perform.” Additional notables include Renshaw questioning whether the company could sustain current level of destination guests should the economy hit another snag or additional economic factors like high fuel prices driving up the cost of flights. Further, Renshaw believes that ‘MTN’ is appropriately valued at this time, however, notes that further economic downturn could put a halt on real estate purchases.
Vail Resorts is slated to release their next earnings report tomorrow on June 9th, 2011 and is estimated to post EPS of $2.16. Their last earnings report was released on March 10th, 2011 and announced EPS of $1.48 with revenue totaling $388 million which was up 29.2 % year to year. MTN is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.
Vail Resorts, Inc. was organized as a public holding company in 1997 and operates through various subsidiaries. Their operations are grouped into three business segments: Mountain, Lodging and Real Estate, which represented approximately 74%, 19% and 7%, respectively, of their net revenue for the year ended July 31, 2010 – fiscal 2010. The company has market capitalization of $1,563,000,000 and 36,007,000 shares outstanding. MTN has a 52-week high of $54.03 with the low being $32.37 dollars.
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