Vail Resorts (NYSE:MTN) Sets New 52-Week Low on Disappointing Earnings

Shares of Vail Resorts, Inc. (NYSE:MTNGet Free Report) hit a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $171.27 and last traded at $172.19, with a volume of 227029 shares. The stock had previously closed at $193.95.

The company reported $9.54 earnings per share for the quarter, missing analysts’ consensus estimates of $9.94 by ($0.40). Vail Resorts had a return on equity of 19.16% and a net margin of 8.44%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.31 billion.

Vail Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Tuesday, June 25th will be given a $2.22 dividend. The ex-dividend date is Tuesday, June 25th. This represents a $8.88 dividend on an annualized basis and a yield of 5.11%. Vail Resorts’s payout ratio is currently 148.25%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MTN shares. Morgan Stanley cut their price target on shares of Vail Resorts from $229.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday. Mizuho lowered their target price on shares of Vail Resorts from $256.00 to $231.00 and set a “buy” rating for the company in a research note on Friday. Barclays reduced their price target on shares of Vail Resorts from $201.00 to $161.00 and set an “underweight” rating on the stock in a research report on Friday. Stifel Nicolaus dropped their price objective on shares of Vail Resorts from $262.00 to $259.00 and set a “buy” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded Vail Resorts from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $217.00 to $176.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $232.56.

View Our Latest Stock Analysis on MTN

Insider Activity

In other Vail Resorts news, Director Peter A. Vaughn sold 1,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $222.77, for a total transaction of $222,770.00. Following the completion of the transaction, the director now owns 7,592 shares in the company, valued at approximately $1,691,269.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Vail Resorts

Several large investors have recently bought and sold shares of the stock. Park Place Capital Corp lifted its holdings in shares of Vail Resorts by 531.6% in the fourth quarter. Park Place Capital Corp now owns 120 shares of the company’s stock valued at $26,000 after buying an additional 101 shares during the period. Rise Advisors LLC lifted its holdings in Vail Resorts by 62.2% in the 4th quarter. Rise Advisors LLC now owns 159 shares of the company’s stock valued at $34,000 after acquiring an additional 61 shares during the last quarter. Quarry LP acquired a new stake in Vail Resorts in the 4th quarter valued at about $35,000. Desjardins Global Asset Management Inc. boosted its position in shares of Vail Resorts by 70.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 167 shares of the company’s stock valued at $36,000 after purchasing an additional 69 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Vail Resorts in the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Vail Resorts Price Performance

The firm has a market capitalization of $6.60 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.12 and a beta of 1.14. The business’s fifty day moving average is $205.22 and its 200 day moving average is $216.36. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 2.37.

About Vail Resorts

(Get Free Report)

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.

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