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

Vail Resorts, Inc. (NYSE:MTN) announced a quarterly dividend on Monday, March 10th, Wall Street Journal reports. Stockholders of record on Thursday, March 27th will be paid a dividend of 2.22 per share on Thursday, April 10th. This represents a $8.88 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Thursday, March 27th.

Vail Resorts has raised its dividend by an average of 71.5% annually over the last three years. Vail Resorts has a payout ratio of 108.7% meaning 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 $8.25 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 107.6%.

Vail Resorts Stock Up 0.9 %

NYSE:MTN opened at $162.04 on Tuesday. The business’s fifty day moving average price is $165.14 and its 200 day moving average price is $174.62. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.93 and a beta of 1.12. The company has a current ratio of 0.63, a quick ratio of 0.51 and a debt-to-equity ratio of 3.64. Vail Resorts has a 1-year low of $151.99 and a 1-year high of $233.57.

Vail Resorts (NYSE:MTN) last posted its quarterly earnings results on Monday, March 10th. The company reported $6.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.29 by $0.27. Vail Resorts had a net margin of 8.07% and a return on equity of 21.90%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm earned $5.76 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Vail Resorts will post 7.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Angela A. Korch acquired 185 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $160.00 per share, with a total value of $29,600.00. Following the completion of the acquisition, the chief financial officer now owns 2,956 shares in the company, valued at $472,960. The trade was a 6.68 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MTN shares. Mizuho dropped their target price on Vail Resorts from $227.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 11th. Morgan Stanley lowered their target price on shares of Vail Resorts from $197.00 to $178.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 11th. StockNews.com raised Vail Resorts from a “sell” rating to a “hold” rating in a research report on Friday, December 13th. Truist Financial dropped their price target on shares of Vail Resorts from $250.00 to $247.00 and set a “buy” rating on the stock in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Vail Resorts from $185.00 to $196.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $193.56.

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.