Viad Corp(NYSE:VVI) Stock Jumps Nearly 9% on Strong Earnings

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Viad Corp(NYSE:VVI) shares were higher nearly 8% in recent trade after reporting Q1 earnings and sales, as well as Q2 EPS guidance, all of which exceeded the consensus.

VVI is trading near the mid-point of the 52-week range between $21.89 and $28.97.

The provider of exhibition, events, travel and recreation services said its Q1 earnings excluding items was $0.36 per share, down from $0.44 the year earlier but exceeding the $0.33 average estimate from analysts polled by Capital IQ. Sales were near flat at $285.6 million from 285.2 million a year ago and topped the $281 million consensus estimate.

On a reported basis, net income more than doubled to $21.9 million or $1.08 per share from $8.1 million or $0.40.

Viad said it expects FY14 sales to grow at a high single to low double-digit rate. For Q2, it expects EPS between $0.34 and $0.44, ahead of the $0.33 average estimate, and revenue between $237 million to $251 million, straddling the $245 million consensus.

Analysts have a consensus BUY rating on Viad Corp(NYSE:VVI) with a score of 2.50.  The consensus price target is $32 which indicates a 40% upside.

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