Shares of Vail Resorts, Inc. (NYSE:MTN – Get Free Report) were down 5.1% during mid-day trading on Thursday . The company traded as low as $138.72 and last traded at $136.8160. Approximately 72,592 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 860,790 shares. The stock had previously closed at $144.24.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MTN. Barclays dropped their price objective on shares of Vail Resorts from $138.00 to $119.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 9th. Morgan Stanley lowered their price objective on shares of Vail Resorts from $151.00 to $147.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Truist Financial cut their price objective on shares of Vail Resorts from $212.00 to $195.00 and set a “buy” rating on the stock in a report on Tuesday, June 9th. Wells Fargo & Company began coverage on Vail Resorts in a research report on Wednesday, March 11th. They set an “equal weight” rating and a $135.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Vail Resorts from $143.00 to $134.00 and set a “hold” rating on the stock in a research note on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $151.45.
Check Out Our Latest Research Report on Vail Resorts
Vail Resorts Stock Performance
Vail Resorts (NYSE:MTN – Get Free Report) last issued its quarterly earnings data on Monday, June 8th. The company reported $8.81 earnings per share for the quarter, missing analysts’ consensus estimates of $8.97 by ($0.16). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. Vail Resorts had a return on equity of 21.88% and a net margin of 5.38%.The company’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.54 EPS. Equities analysts expect that Vail Resorts, Inc. will post 4.31 earnings per share for the current fiscal year.
Vail Resorts Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th will be paid a dividend of $2.22 per share. This represents a $8.88 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Thursday, June 25th. Vail Resorts’s payout ratio is 201.82%.
Institutional Trading of Vail Resorts
Several institutional investors and hedge funds have recently modified their holdings of MTN. Capital World Investors boosted its position in Vail Resorts by 67.0% in the third quarter. Capital World Investors now owns 3,013,463 shares of the company’s stock worth $450,724,000 after purchasing an additional 1,208,874 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Vail Resorts by 15,313.2% during the 4th quarter. HighTower Advisors LLC now owns 450,066 shares of the company’s stock valued at $59,769,000 after buying an additional 447,146 shares in the last quarter. Norges Bank purchased a new position in shares of Vail Resorts in the fourth quarter valued at $41,106,000. Bamco Inc. NY increased its position in shares of Vail Resorts by 4.1% during the third quarter. Bamco Inc. NY now owns 5,702,692 shares of the company’s stock valued at $852,952,000 after buying an additional 227,143 shares during the period. Finally, M&T Bank Corp purchased a new position in Vail Resorts in the 4th quarter worth approximately $28,521,000. 94.90% of the stock is owned by hedge funds and other institutional investors.
About Vail Resorts
Vail Resorts, Inc is a leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets. The company’s signature Epic Pass program offers skiers and snowboarders season‐long access to its portfolio of resorts, while ancillary services such as ski and snowboard schools, equipment rental and retail drive additional revenue.
Headquartered in Broomfield, Colorado, Vail Resorts was formed in 1997, building on the legacy of Vail Associates, which opened the Vail ski area in 1962.
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