Why Are Vail Resorts Shares Down 12.2% Friday
Portfolio Pulse from Vaishali Prayag
Vail Resorts, Inc. (NYSE:MTN) shares dropped 12.2% after reporting weaker-than-expected Q3 earnings and lowering its full-year 2024 guidance. The company missed earnings and sales estimates, leading to analyst downgrades and reduced price targets.
June 07, 2024 | 6:12 pm
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Vail Resorts reported Q3 earnings of $9.54 per share, missing estimates of $10.03 per share, and sales of $1.28 billion, below the expected $1.30 billion. The company also lowered its full-year 2024 guidance, leading to a 12.2% drop in share price. Analysts downgraded the stock and reduced price targets.
The company's weaker-than-expected Q3 results and downward revision of full-year 2024 guidance directly impacted its stock price, causing a significant drop. Analyst downgrades and reduced price targets further contributed to the negative sentiment.
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