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

Shares of Vail Resorts, Inc. (NYSE:MTN) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $187.95, but opened at $180.47. Vail Resorts shares last traded at $177.51, with a volume of 177,448 shares.

The company reported ($4.67) earnings per share for the quarter, missing the consensus estimate of ($4.28) by ($0.39). The firm had revenue of $265.39 million during the quarter, compared to analysts’ expectations of $264.84 million. Vail Resorts had a return on equity of 23.41% and a net margin of 9.59%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business posted ($3.35) EPS.

Vail Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Tuesday, October 8th will be given a dividend of $2.22 per share. The ex-dividend date is Tuesday, October 8th. This represents a $8.88 dividend on an annualized basis and a dividend yield of 4.92%. Vail Resorts’s dividend payout ratio (DPR) is presently 120.82%.

Analysts Set New Price Targets

MTN has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Vail Resorts from $179.00 to $182.00 and gave the company an “equal weight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on Vail Resorts from $218.00 to $194.00 and set a “hold” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. cut Vail Resorts from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $217.00 to $176.00 in a research report on Friday, June 7th. Mizuho dropped their target price on Vail Resorts from $256.00 to $231.00 and set a “buy” rating on the stock in a research report on Friday, June 7th. Finally, Stifel Nicolaus lowered their price objective on Vail Resorts from $223.00 to $216.00 and set a “buy” rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $211.75.

Institutional Trading of Vail Resorts

A number of hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in shares of Vail Resorts by 150.9% in the second quarter. Signaturefd LLC now owns 138 shares of the company’s stock valued at $25,000 after purchasing an additional 83 shares during the period. Quarry LP acquired a new stake in Vail Resorts in the fourth quarter valued at approximately $35,000. Brown Brothers Harriman & Co. raised its holdings in Vail Resorts by 318.8% in the second quarter. Brown Brothers Harriman & Co. now owns 201 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares in the last quarter. Canton Hathaway LLC raised its holdings in Vail Resorts by 66.7% during the second quarter. Canton Hathaway LLC now owns 250 shares of the company’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in Vail Resorts during the second quarter worth approximately $51,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Vail Resorts Trading Down 3.9 %

The company has a quick ratio of 1.08, a current ratio of 1.18 and a debt-to-equity ratio of 2.04. The business’s fifty day simple moving average is $179.54 and its two-hundred day simple moving average is $191.72. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.56 and a beta of 1.14.

Vail Resorts Company Profile

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.