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

Vail Resorts, Inc. (NYSE:MTN) declared a quarterly dividend on Friday, September 27th, Wall Street Journal reports. Investors of record on Tuesday, October 8th will be paid 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 4.92%. The ex-dividend date is Tuesday, October 8th.

Vail Resorts has raised its dividend by an average of 67.3% annually over the last three years. Vail Resorts has a dividend payout ratio of 105.1% 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 $8.33 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 106.6%.

Vail Resorts Trading Down 3.9 %

Shares of NYSE:MTN traded down $7.34 during trading on Friday, reaching $180.61. The stock had a trading volume of 1,512,833 shares, compared to its average volume of 527,853. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.08 and a current ratio of 1.18. The firm’s fifty day moving average is $179.53 and its 200 day moving average is $192.26. Vail Resorts has a 52 week low of $165.14 and a 52 week high of $242.47. The stock has a market cap of $6.79 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 2.56 and a beta of 1.14.

Vail Resorts (NYSE:MTN) last issued its earnings results on Thursday, September 26th. The company reported ($4.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.28) by ($0.39). Vail Resorts had a return on equity of 23.41% and a net margin of 9.59%. The firm had revenue of $265.39 million during the quarter, compared to the consensus estimate of $264.84 million. During the same quarter in the prior year, the business earned ($3.35) earnings per share. Vail Resorts’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that Vail Resorts will post 6.44 EPS for the current fiscal year.

Analysts Set New Price Targets

MTN has been the topic of a number of research analyst reports. Stifel Nicolaus cut their price target on shares of Vail Resorts from $223.00 to $216.00 and set a “buy” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Vail Resorts from $218.00 to $194.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Mizuho cut their price objective on Vail Resorts from $256.00 to $231.00 and set a “buy” rating for the company in a report on Friday, June 7th. Barclays lowered their price target on Vail Resorts from $161.00 to $155.00 and set an “underweight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. lowered shares of Vail Resorts from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $217.00 to $176.00 in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $211.75.

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.