Vail Resorts, Inc. (NYSE:MTN) announced a quarterly dividend on Thursday, June 6th, NASDAQ reports. Investors of record on Wednesday, June 26th will be given a dividend of 1.76 per share on Thursday, July 11th. This represents a $7.04 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, June 25th.
Vail Resorts has raised its dividend by an average of 33.8% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Vail Resorts has a payout ratio of 88.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Vail Resorts to earn $7.96 per share next year, which means the company should continue to be able to cover its $7.04 annual dividend with an expected future payout ratio of 88.4%.
Vail Resorts stock opened at $230.54 on Monday. The stock has a market cap of $9.27 billion, a P/E ratio of 36.65, a P/E/G ratio of 2.20 and a beta of 0.70. Vail Resorts has a 52 week low of $179.60 and a 52 week high of $302.76. The company has a current ratio of 0.76, a quick ratio of 0.62 and a debt-to-equity ratio of 0.69.
Several analysts recently commented on the company. Zacks Investment Research raised Vail Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Stifel Nicolaus increased their price target on Vail Resorts from $219.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, June 7th. SunTrust Banks initiated coverage on Vail Resorts in a research report on Friday, April 26th. They set a “buy” rating and a $242.00 price target on the stock. Macquarie downgraded Vail Resorts from an “outperform” rating to a “neutral” rating and set a $221.62 price target on the stock. in a research report on Thursday, April 4th. Finally, Deutsche Bank reiterated a “buy” rating and set a $267.00 price target on shares of Vail Resorts in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $238.08.
In other news, Chairman Robert A. Katz sold 64,913 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $231.95, for a total value of $15,056,570.35. Following the transaction, the chairman now owns 425,729 shares in the company, valued at $98,747,841.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Patricia A. Campbell sold 6,431 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $235.53, for a total value of $1,514,693.43. Following the completion of the transaction, the insider now owns 33,729 shares in the company, valued at approximately $7,944,191.37. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Vail Resorts Company Profile
Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and urban ski areas in the United States. The company operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 11 mountain resorts, including Vail Mountain, Breckenridge Ski, Keystone, and Beaver Creek resorts in Colorado; Park City resort in Utah; Heavenly Mountain, Northstar, and Kirkwood Mountain resorts in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in Canada; Stowe Mountain resort in Vermont; and Perisher in Australia, as well as 3 urban ski areas, such as Wilmot Mountain in Wisconsin, Afton Alps in Minnesota, and Mount Brighton in Michigan.
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