The stock finished 2.9% higher Friday at $236.98. In 2019 to date the stock is up more than 12%.
After Thursday's closing bell, the Broomfield, Colo., ski-resort operator reported a loss of $2.22 a share, narrower than Wall Street's estimate of a $2.53 loss. The company saw revenue of $244 million, beating analysts' $240.1 million forecast.
Vail Resorts, which recently announced the purchase of 17 new properties, gave its outlook for the year ending July 31, 2020. Fiscal 2020 earnings before interest, taxes, depreciation and amortization is expected to be between $778 million and $818 million.
Deutsche Bank analyst Chris Woronka raised his price target to $281 from $261 as he expected the company to maintain strong sales.
Jefferies analyst David Katz maintains his hold rating and raises his price target to $263 from $246. He wrote in a note to clients that his new target "reflects the continued strength of the model and management's execution."
Rob Katz, Vail Resorts CEO:
"We are pleased with our overall results for the year, with strong growth in visitation and spending compared to the prior year, including a strong finish to the season with good conditions across our U.S. resorts throughout the year. After the challenging early season period for destination visitation, our results for the remainder of the year were largely in line with our original expectations. Our results throughout fiscal 2019 highlight the growth and stability resulting from our season pass, the benefit of our geographic diversification, the investments we make in our resorts and the success of our sophisticated, data-driven marketing efforts."
The dividend yield on the stock is 2.9%. The 11 analysts on FactSet have an average overweight rating and price target of $253.73 on Vail Resorts.
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