Vail Resorts, Inc. (MTN) to Issue Quarterly Dividend of $1.05 on October 27th
Vail Resorts, Inc. (NYSE:MTN) announced a quarterly dividend on Thursday, September 28th, NASDAQ reports. Investors of record on Tuesday, October 10th will be given a dividend of 1.053 per share on Friday, October 27th. This represents a $4.21 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, October 6th.
Vail Resorts has increased its dividend by an average of 69.9% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Vail Resorts has a payout ratio of 70.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Vail Resorts to earn $7.01 per share next year, which means the company should continue to be able to cover its $4.21 annual dividend with an expected future payout ratio of 60.1%.
Shares of Vail Resorts (NYSE MTN) opened at 220.50 on Thursday. Vail Resorts has a 12-month low of $151.60 and a 12-month high of $232.71. The stock has a market cap of $8.84 billion, a P/E ratio of 42.24 and a beta of 0.50. The company’s 50-day moving average is $225.26 and its 200-day moving average is $208.17.
Vail Resorts (NYSE:MTN) last posted its earnings results on Thursday, September 28th. The company reported ($1.43) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.81) by $0.38. The business had revenue of $209.10 million for the quarter, compared to analysts’ expectations of $210.92 million. Vail Resorts had a net margin of 11.04% and a return on equity of 13.46%. The business’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.80) EPS. On average, equities research analysts anticipate that Vail Resorts will post $6.14 earnings per share for the current year.
Several research firms have issued reports on MTN. BidaskClub cut shares of Vail Resorts from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 30th. Bank of America Corporation restated a “buy” rating and set a $228.00 target price (up previously from $205.00) on shares of Vail Resorts in a research note on Friday, June 9th. Stifel Nicolaus restated a “buy” rating and set a $229.00 target price (up previously from $205.00) on shares of Vail Resorts in a research note on Sunday, June 11th. William Blair assumed coverage on shares of Vail Resorts in a research note on Friday, July 21st. They issued an “outperform” rating on the stock. Finally, Janney Montgomery Scott increased their price objective on shares of Vail Resorts from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, June 12th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Vail Resorts presently has a consensus rating of “Buy” and an average target price of $245.14.
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Vail Resorts Company Profile
Vail Resorts, Inc is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. Its Mountain segment operates over 10 mountain resort properties and approximately three urban ski areas, as well as ancillary services, primarily including, ski school, dining, and retail/rental operations.
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