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

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 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend is Thursday, March 27th.

Vail Resorts has increased its dividend payment by an average of 71.5% per year over the last three years. Vail Resorts has a payout ratio of 106.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 7.9 %

MTN traded up $12.18 on Tuesday, reaching $165.76. 1,604,953 shares of the company traded hands, compared to its average volume of 556,770. The company has a market cap of $6.21 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 3.64. Vail Resorts has a one year low of $151.99 and a one year high of $233.57. The firm has a fifty day simple moving average of $168.90 and a two-hundred day simple moving average of $176.04.

Vail Resorts (NYSE:MTN) last announced its quarterly earnings results on Monday, March 10th. The company reported $6.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.29 by $0.27. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Vail Resorts had a return on equity of 21.90% and a net margin of 8.07%. Vail Resorts’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.76 earnings per share. As a group, equities research analysts expect that Vail Resorts will post 7.62 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Vail Resorts from $197.00 to $178.00 and set an “equal weight” rating for the company in a report on Tuesday. Mizuho lowered their price target on shares of Vail Resorts from $227.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday. Truist Financial cut their price objective on shares of Vail Resorts from $250.00 to $247.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. JPMorgan Chase & Co. upped their target price on Vail Resorts from $166.00 to $167.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Stifel Nicolaus increased their target price on Vail Resorts from $216.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $194.67.

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.