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

Vail Resorts, Inc. (NYSE:MTN - Get Free Report) announced a quarterly dividend on Friday, June 6th, Wall Street Journal reports. Stockholders of record on Tuesday, June 24th will be given a dividend of 2.22 per share on Wednesday, July 9th. This represents a $8.88 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Tuesday, June 24th.

Vail Resorts has a payout ratio of 109.5% 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 $8.25 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 Price Performance

Shares of Vail Resorts stock traded down $4.98 during midday trading on Friday, hitting $149.92. 1,686,164 shares of the company were exchanged, compared to its average volume of 671,467. The firm has a 50 day simple moving average of $145.78 and a 200-day simple moving average of $163.84. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.63 and a quick ratio of 0.51. The firm has a market cap of $5.60 billion, a P/E ratio of 24.94, a PEG ratio of 1.93 and a beta of 0.91. Vail Resorts has a 52 week low of $129.85 and a 52 week high of $199.45.

Vail Resorts (NYSE:MTN - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported $10.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.00 by $0.54. Vail Resorts had a return on equity of 21.90% and a net margin of 8.07%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $9.54 earnings per share. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. Research analysts forecast that Vail Resorts will post 7.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Macquarie cut their price target on shares of Vail Resorts from $195.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Barclays reiterated an "underweight" rating and issued a $152.00 target price (down previously from $165.00) on shares of Vail Resorts in a research note on Monday, March 10th. Mizuho increased their price target on Vail Resorts from $215.00 to $216.00 and gave the stock an "outperform" rating in a research report on Friday. Bank of America lifted their price objective on Vail Resorts from $160.00 to $175.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Vail Resorts from $183.00 to $171.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $188.80.

Insider Activity

In other news, CFO Angela A. Korch purchased 185 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $160.00 per share, for a total transaction of $29,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,956 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Trading of Vail Resorts

An institutional investor recently raised its position in Vail Resorts stock. Goldman Sachs Group Inc. boosted its holdings in Vail Resorts, Inc. (NYSE:MTN - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 121,123 shares of the company's stock after buying an additional 3,440 shares during the period. Goldman Sachs Group Inc. owned approximately 0.32% of Vail Resorts worth $19,382,000 as of its most recent SEC filing. Institutional investors and hedge funds own 94.94% of the company's stock.

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.

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