Oppenheimer Reiterates Outperform on Peak Resorts (SKIS) Following 1Q Results
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Oppenheimer reiterated an Outperform rating and $7.00 price target on Peak Resorts (NASDAQ: SKIS) following the company's 1Q earnings report. SKIS reported first-quarter revenues at $7.1M, vs. $9.3M estimates. EBITDA in 1Q17 was ($6.9M), relatively in line with ($6.5M) in 1Q16 and estimates of ($6.1M).
Analyst Ian Zaffino commented, "SKIS reported slightly soft results for 1Q17 (July), owing to warmer than expected weather partially offset by higher zip-line revenues once more normal weather patterns returned. Adjusted EPS for 1Q17 was ($0.56) vs. our ($0.58) estimate; EBITDA was ($6.9M) vs. our ($6.1M) forecast. Our FY2017E EBITDA of $33M is unchanged. Maintain Outperform."
Shares of Peak Resorts closed at $4.80 yesterday.
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