Hot Stock to watch: Vail Resorts, Inc. (NYSE: MTN)

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Vail Resorts, Inc. (NYSE: MTN) stock rose over 1.5% on 10th December, 2019 (as of 11:18 am GMT-5; Source: Google finance) after the company posted better than expected results for the first quarter of FY 20. Net loss attributable to Vail Resorts, Inc. was $106.5 million for the first quarter of fiscal 2020 compared to a net loss attributable to Vail Resorts, Inc. of $107.8 million in the first quarter of fiscal 2019. Resort has reported EBITDA was a loss of $76.7 million in the first fiscal quarter, which compares to a resort reported EBITDA loss of $72.5 million in the same period in the prior year. MTN has ended the quarter with $136.3 million of cash on hand and $1.9 billion of net debt. The net debt was 2.8 times trailing 12 months total reported EBITDA.

MTN in the first quarter of FY 20 has reported the adjusted loss per share of $2.23, beating the analysts’ estimates for the adjusted loss per share of $3, according to Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 21.7 percent to $267.77 million in the first quarter of FY 20, beating the analysts’ estimates for revenue by 4.74%.

Additionally, the Company has declared a quarterly cash dividend of $1.76 per share of Vail Resorts common stock that will be payable on January 9, 2020 to shareholders of record on December 26, 2019. Further, the Company has repurchased approximately $21.4 million of stock during the quarter at an average price of $224.28.

Meanwhile, the company has recently announced a series of major capital improvements for its resorts that are designed to make getting on and around its mountains faster and easier through terrain expansions, new lifts and expanded restaurant experiences. The new projects are part of the company’s calendar year 2020 capital plan, which is projected to be in the range of approximately $210 million to $215 million meant to enhance the guest experience and scale the company’s growing business. In 2020, the company will be investing in McCoy Park at Beaver Creek, which is significant terrain expansion project, High-Speed Lift to Peak 7 in Breckenridge, High-Speed Lift from Keystone Base Area, Restaurant Expansion on Blackcomb Mountain, complete a transformational investment at Okemo, integration of its 17 new resorts in the Northeast, Mid-Atlantic and Midwest to allow for direct-to-lift access for its guests in time for the 2020/21 ski season and to complete the revamp of its EpicMix mobile application

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