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Vail Resorts (MTN) Soars 5.6%: Is Further Upside Left in the Stock?
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Vail Resorts (MTN - Free Report) shares rallied 5.6% in the last trading session to close at $176. 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 12.5% loss over the past four weeks.
Shares of Vail Resorts jumped after Late Apex Partners, a shareholder, called for major leadership and structural changes. Late Apex Partners proposed replacing chief executive officer, Kirsten Lynch and chief financial officer, Angela Korch, along with the resignation of board Chairman Robert Katz. The shareholder also suggested an 80% dividend reduction and measures to improve the balance sheet, as outlined in a letter to the board.
This ski resort operator is expected to post quarterly earnings of $6.29 per share in its upcoming report, which represents a year-over-year change of +9.2%. Revenues are expected to be $1.14 billion, up 5.6% 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 been revised 1.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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, Pursuit Attractions and Hospitality (PRSU - Free Report) , closed the last trading session 2.8% higher at $39.85. Over the past month, PRSU has returned -9.4%.
Pursuit Attractions and Hospitality's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.19. Compared to the company's year-ago EPS, this represents a change of -50.6%. Pursuit Attractions and Hospitality currently boasts a Zacks Rank of #3 (Hold).
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Vail Resorts (MTN) Soars 5.6%: Is Further Upside Left in the Stock?
Vail Resorts (MTN - Free Report) shares rallied 5.6% in the last trading session to close at $176. 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 12.5% loss over the past four weeks.
Shares of Vail Resorts jumped after Late Apex Partners, a shareholder, called for major leadership and structural changes. Late Apex Partners proposed replacing chief executive officer, Kirsten Lynch and chief financial officer, Angela Korch, along with the resignation of board Chairman Robert Katz. The shareholder also suggested an 80% dividend reduction and measures to improve the balance sheet, as outlined in a letter to the board.
This ski resort operator is expected to post quarterly earnings of $6.29 per share in its upcoming report, which represents a year-over-year change of +9.2%. Revenues are expected to be $1.14 billion, up 5.6% 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 been revised 1.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. 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, Pursuit Attractions and Hospitality (PRSU - Free Report) , closed the last trading session 2.8% higher at $39.85. Over the past month, PRSU has returned -9.4%.
Pursuit Attractions and Hospitality's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.19. Compared to the company's year-ago EPS, this represents a change of -50.6%. Pursuit Attractions and Hospitality currently boasts a Zacks Rank of #3 (Hold).