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

Vail Resorts, Inc. (NYSE:MTN) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Investors of record on Thursday, December 26th will be paid a dividend of 2.22 per share on Thursday, January 9th. This represents a $8.88 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Thursday, December 26th.

Vail Resorts has increased its dividend by an average of 67.3% annually over the last three years. Vail Resorts has a payout ratio of 121.3% 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 $8.30 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 107.0%.

Vail Resorts Stock Performance

Shares of MTN stock opened at $195.25 on Wednesday. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of 32.41, a price-to-earnings-growth ratio of 1.97 and a beta of 1.14. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.82 and a quick ratio of 0.71. The business has a fifty day moving average of $176.27 and a 200 day moving average of $178.67. Vail Resorts has a 1 year low of $165.00 and a 1 year high of $236.92.

Vail Resorts (NYSE:MTN) last issued its earnings results on Monday, December 9th. The company reported ($4.61) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.99) by $0.38. The company had revenue of $260.28 million during the quarter, compared to analyst estimates of $251.45 million. Vail Resorts had a return on equity of 20.76% and a net margin of 7.99%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted ($4.60) EPS. As a group, research analysts expect that Vail Resorts will post 7.23 earnings per share for the current year.

Insider Activity at Vail Resorts

In other Vail Resorts news, Director John F. Sorte sold 1,670 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $173.07, for a total value of $289,026.90. Following the transaction, the director now directly owns 45,111 shares of the company’s stock, valued at $7,807,360.77. This trade represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert A. Katz sold 9,296 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $175.98, for a total transaction of $1,635,910.08. Following the completion of the transaction, the insider now directly owns 245,961 shares in the company, valued at $43,284,216.78. This trade represents a 3.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MTN has been the subject of a number of research analyst reports. Macquarie restated a “neutral” rating and issued a $180.00 target price on shares of Vail Resorts in a research note on Wednesday, October 2nd. Mizuho increased their price target on Vail Resorts from $222.00 to $227.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays increased their price target on Vail Resorts from $155.00 to $165.00 and gave the stock an “underweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on Vail Resorts from $185.00 to $196.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Truist Financial cut their price target on Vail Resorts from $250.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $204.00.

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.