Vail Resorts, Inc. (NYSE:MTN) Announces 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 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date is Tuesday, October 8th.

Vail Resorts has raised 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 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 Price Performance

MTN stock opened at $173.22 on Friday. The stock has a market cap of $6.52 billion, a PE ratio of 23.57, a P/E/G 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 50-day moving average price of $178.83 and a 200 day moving average price of $190.29. 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 earnings results on Thursday, September 26th. The company reported ($4.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.28) by ($0.39). Vail Resorts had a net margin of 7.99% and a return on equity of 20.76%. The business had revenue of $265.39 million for the quarter, compared to analysts’ expectations of $264.84 million. During the same quarter last year, the firm earned ($3.35) EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Vail Resorts will post 7.52 earnings per share for the current year.

Insider Activity

In related news, insider Robert A. Katz sold 9,296 shares of Vail Resorts stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $175.98, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director John F. Sorte sold 1,670 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $173.07, for a total transaction of $289,026.90. Following the completion of the sale, the director now directly owns 45,111 shares in the company, valued at $7,807,360.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert A. Katz sold 9,296 shares of Vail Resorts stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $175.98, for a total value of $1,635,910.08. Following the completion of the transaction, the insider now owns 245,961 shares in the company, valued at $43,284,216.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MTN shares. StockNews.com lowered Vail Resorts from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Macquarie reaffirmed a “neutral” rating and issued a $180.00 price target on shares of Vail Resorts in a research note on Wednesday. Barclays lowered their price objective on shares of Vail Resorts from $161.00 to $155.00 and set an “underweight” rating for the company in a research report on Friday, September 27th. Morgan Stanley raised their target price on shares of Vail Resorts from $179.00 to $182.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus lowered their price target on Vail Resorts from $223.00 to $216.00 and set a “buy” rating for the company in a report on Friday, September 27th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vail Resorts presently has a consensus rating of “Hold” and a consensus target price of $208.22.

Vail Resorts Company Profile

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.