Vail Resorts Inc. (MTN) Sees Strong Trading Volume After Dividend Announcement
Shares of Vail Resorts Inc. (NYSE:MTN) saw unusually-high trading volume on Monday after the company announced a dividend. Approximately 382,964 shares were traded during mid-day trading, an increase of 36% from the previous session’s volume of 282,401 shares.The stock last traded at $156.92 and had previously closed at $160.56.
The newly announced dividend which will be paid on Tuesday, October 25th. Investors of record on Friday, October 7th will be paid a $0.81 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $3.24 dividend on an annualized basis and a yield of 2.08%. Vail Resorts’s dividend payout ratio (DPR) is 82.23%.
MTN has been the subject of a number of research reports. MKM Partners restated a “buy” rating and issued a $147.00 target price on shares of Vail Resorts in a research note on Wednesday, June 1st. Janney Montgomery Scott restated a “buy” rating and issued a $153.00 target price (up from $150.00) on shares of Vail Resorts in a research note on Friday, June 10th. Bank of America Corp. restated a “buy” rating on shares of Vail Resorts in a research note on Friday, June 10th. Zacks Investment Research downgraded Vail Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, KeyCorp lifted their target price on Vail Resorts from $150.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $153.76.
The stock has a market cap of $5.63 billion, a PE ratio of 40.1625 and a beta of 0.70. The company has a 50 day moving average of $158.88 and a 200 day moving average of $140.68.
Vail Resorts (NYSE:MTN) last posted its quarterly earnings results on Monday, September 26th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.67) by $0.13. Vail Resorts had a return on equity of 17.34% and a net margin of 9.35%. The business earned $179.88 million during the quarter. During the same period in the previous year, the business earned ($1.92) earnings per share. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts expect that Vail Resorts Inc. will post $4.98 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in Vail Resorts by 502.4% in the second quarter. Pacer Advisors Inc. now owns 1,271 shares of the company’s stock valued at $176,000 after buying an additional 1,060 shares during the period. Corundum Group Inc. acquired a new position in Vail Resorts during the second quarter valued at about $207,000. BlueMountain Capital Management LLC acquired a new position in Vail Resorts during the first quarter valued at about $210,000. FineMark National Bank & Trust raised its position in Vail Resorts by 20,025.0% in the second quarter. FineMark National Bank & Trust now owns 1,610 shares of the company’s stock valued at $223,000 after buying an additional 1,602 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in Vail Resorts during the second quarter valued at about $223,000. 98.48% of the stock is owned by hedge funds and other institutional investors.
Vail Resorts Company Profile
Vail Resorts, Inc is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. The Company’s Mountain segment operates around 10 mountain resort properties and two urban ski areas, as well as ancillary services, primarily including, ski school, dining and retail/rental operations.
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