Vail Resorts, Inc. (NYSE:MTN) Declares Quarterly Dividend of $2.22

Vail Resorts, Inc. (NYSE:MTN) declared a quarterly dividend on Thursday, September 26th, Wall Street Journal reports. Shareholders of record on Tuesday, October 8th will be given a dividend of 2.22 per share on Thursday, October 24th. This represents a $8.88 annualized dividend and a dividend yield of 5.13%. The ex-dividend date of this dividend is Tuesday, October 8th.

Vail Resorts has increased its dividend payment by an average of 67.3% per year over the last three years. Vail Resorts has a payout ratio of 109.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Vail Resorts to earn $8.60 per share next year, which means the company may not be able to cover its $8.88 annual dividend with an expected future payout ratio of 103.3%.

Vail Resorts Stock Performance

Shares of MTN opened at $173.22 on Monday. The stock has a 50 day moving average of $178.83 and a 200 day moving average of $189.79. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.63 and a beta of 1.13. Vail Resorts has a 12 month low of $165.14 and a 12 month high of $236.92. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 2.62.

Vail Resorts (NYSE:MTN) last announced its quarterly earnings data on Thursday, September 26th. The company reported ($4.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.28) by ($0.39). The business had revenue of $265.39 million during the quarter, compared to the consensus estimate of $264.84 million. Vail Resorts had a net margin of 7.99% and a return on equity of 20.76%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned ($3.35) EPS. As a group, sell-side analysts forecast that Vail Resorts will post 7.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Angela A. Korch purchased 165 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was purchased at an average cost of $173.09 per share, with a total value of $28,559.85. Following the acquisition, the chief financial officer now directly owns 2,187 shares in the company, valued at approximately $378,547.83. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Vail Resorts news, CFO Angela A. Korch purchased 165 shares of the stock in a transaction on Thursday, October 3rd. The shares were purchased at an average price of $173.09 per share, with a total value of $28,559.85. Following the acquisition, the chief financial officer now directly owns 2,187 shares in the company, valued at approximately $378,547.83. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert A. Katz sold 9,296 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $175.98, for a total value of $1,635,910.08. Following the transaction, the insider now directly owns 245,961 shares of the company’s stock, valued at $43,284,216.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

MTN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Vail Resorts from $218.00 to $194.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. StockNews.com cut shares of Vail Resorts from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Macquarie reiterated a “neutral” rating and issued a $180.00 price objective on shares of Vail Resorts in a research note on Wednesday, October 2nd. Barclays decreased their target price on Vail Resorts from $161.00 to $155.00 and set an “underweight” rating for the company in a research report on Friday, September 27th. Finally, Morgan Stanley boosted their target price on Vail Resorts from $179.00 to $182.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $208.22.

About Vail Resorts

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.