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Vail Resorts (MTN) Surges 4.4%: Is This an Indication of Further Gains?
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Vail Resorts (MTN - Free Report) shares rallied 4.4% in the last trading session to close at $260.42. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16% gain over the past four weeks.
Shares of Vail Resorts gained probably after the release of Baron Funds' third quarter 2022 investor letter — Baron Real Estate Fund. Notably, Baron Funds, an investment management company, highlighted Vail Resorts in the letter. Its comment about Vail Resorts in its Q3 2022 investor letter are as follows: "Vail Resorts owns and operates a premier portfolio of mountain resorts including marquee resorts such as Vail, Beaver Creek, Breckinridge, Park City, Whistler Blackcomb, and Keystone. Vail’s shares have declined 43% from a peak of $376 in November 2021 to a recent price of only $215 and are currently valued at only 11 times cash flow versus its long-term average multiple of approximately 15 times cash flow.”
This ski resort operator is expected to post quarterly loss of $3.17 per share in its upcoming report, which represents a year-over-year change of +7.9%. Revenues are expected to be $246.07 million, up 40.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Vail Resorts, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MTN going forward to see if this recent jump can turn into more strength down the road.
Vail Resorts belongs to the Zacks Leisure and Recreation Services industry. Another stock from the same industry, RCI Hospitality (RICK - Free Report) , closed the last trading session 2.9% higher at $89.07. Over the past month, RICK has returned 8.2%.
RCI Hospitality's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.33. Compared to the company's year-ago EPS, this represents a change of -15.8%. RCI Hospitality currently boasts a Zacks Rank of #2 (Buy).
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Vail Resorts (MTN) Surges 4.4%: Is This an Indication of Further Gains?
Vail Resorts (MTN - Free Report) shares rallied 4.4% in the last trading session to close at $260.42. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16% gain over the past four weeks.
Shares of Vail Resorts gained probably after the release of Baron Funds' third quarter 2022 investor letter — Baron Real Estate Fund. Notably, Baron Funds, an investment management company, highlighted Vail Resorts in the letter. Its comment about Vail Resorts in its Q3 2022 investor letter are as follows: "Vail Resorts owns and operates a premier portfolio of mountain resorts including marquee resorts such as Vail, Beaver Creek, Breckinridge, Park City, Whistler Blackcomb, and Keystone. Vail’s shares have declined 43% from a peak of $376 in November 2021 to a recent price of only $215 and are currently valued at only 11 times cash flow versus its long-term average multiple of approximately 15 times cash flow.”
This ski resort operator is expected to post quarterly loss of $3.17 per share in its upcoming report, which represents a year-over-year change of +7.9%. Revenues are expected to be $246.07 million, up 40.2% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Vail Resorts, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MTN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Vail Resorts belongs to the Zacks Leisure and Recreation Services industry. Another stock from the same industry, RCI Hospitality (RICK - Free Report) , closed the last trading session 2.9% higher at $89.07. Over the past month, RICK has returned 8.2%.
RCI Hospitality's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.33. Compared to the company's year-ago EPS, this represents a change of -15.8%. RCI Hospitality currently boasts a Zacks Rank of #2 (Buy).