Vail Resorts (NYSE:MTN) Shares Gap Down Following Weak Earnings

Vail Resorts, Inc. (NYSE:MTNGet Free Report)’s stock price gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $148.06, but opened at $139.68. Vail Resorts shares last traded at $144.27, with a volume of 364,379 shares changing hands.

The company reported ($5.08) earnings per share for the quarter, missing the consensus estimate of ($4.75) by ($0.33). Vail Resorts had a return on equity of 30.03% and a net margin of 9.45%.The firm had revenue of $271.29 million during the quarter, compared to the consensus estimate of $272.87 million. During the same period in the prior year, the company posted ($4.67) EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis.

Vail Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 27th. Investors of record on Thursday, October 9th will be given a dividend of $2.22 per share. The ex-dividend date is Thursday, October 9th. This represents a $8.88 annualized dividend and a dividend yield of 5.9%. Vail Resorts’s dividend payout ratio (DPR) is currently 113.55%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MTN. Truist Financial lowered their price target on Vail Resorts from $244.00 to $237.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays dropped their target price on shares of Vail Resorts from $152.00 to $145.00 and set an “underweight” rating for the company in a research report on Tuesday. Mizuho cut their target price on shares of Vail Resorts from $216.00 to $195.00 and set an “outperform” rating for the company in a research note on Tuesday. Bank of America decreased their price target on shares of Vail Resorts from $175.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Vail Resorts from $170.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 17th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $175.80.

View Our Latest Analysis on Vail Resorts

Hedge Funds Weigh In On Vail Resorts

A number of institutional investors and hedge funds have recently modified their holdings of MTN. Argonautica Private Wealth Management Inc. raised its holdings in Vail Resorts by 4.9% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 1,719 shares of the company’s stock valued at $270,000 after buying an additional 81 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Vail Resorts by 3.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,896 shares of the company’s stock worth $455,000 after acquiring an additional 94 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Vail Resorts by 1.1% in the 1st quarter. State of Michigan Retirement System now owns 9,000 shares of the company’s stock worth $1,440,000 after acquiring an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Vail Resorts by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock worth $1,680,000 after purchasing an additional 100 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its holdings in Vail Resorts by 0.7% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 16,585 shares of the company’s stock valued at $2,606,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Vail Resorts Price Performance

The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $5.55 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.87. The stock’s 50-day moving average is $153.15 and its two-hundred day moving average is $152.58.

About Vail Resorts

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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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