Vail Resorts (NYSE:MTN) Shares Gap Up on Strong Earnings

Vail Resorts, Inc. (NYSE:MTN)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $153.58, but opened at $162.27. Vail Resorts shares last traded at $164.38, with a volume of 148,528 shares.

The company reported $6.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.29 by $0.27. Vail Resorts had a return on equity of 21.90% and a net margin of 8.07%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $5.76 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis.

Vail Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Thursday, March 27th will be given a $2.22 dividend. The ex-dividend date of this dividend is Thursday, March 27th. This represents a $8.88 dividend on an annualized basis and a yield of 5.36%. Vail Resorts’s dividend payout ratio (DPR) is 147.51%.

Analyst Upgrades and Downgrades

MTN has been the subject of a number of research reports. Mizuho reduced their target price on shares of Vail Resorts from $227.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday. JPMorgan Chase & Co. raised their target price on Vail Resorts from $166.00 to $167.00 and gave the stock an “underweight” rating in a research report on Tuesday. Stifel Nicolaus upped their target price on Vail Resorts from $216.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays restated an “underweight” rating and set a $152.00 price target (down from $165.00) on shares of Vail Resorts in a report on Monday. Finally, Macquarie increased their price objective on Vail Resorts from $180.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $194.67.

Institutional Trading of Vail Resorts

Large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Vail Resorts in the third quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in Vail Resorts during the fourth quarter worth $33,000. Blue Trust Inc. lifted its holdings in Vail Resorts by 246.7% during the 4th quarter. Blue Trust Inc. now owns 208 shares of the company’s stock valued at $36,000 after purchasing an additional 148 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Vail Resorts in the 4th quarter worth approximately $40,000. Finally, GeoWealth Management LLC raised its position in Vail Resorts by 162.2% in the 4th quarter. GeoWealth Management LLC now owns 291 shares of the company’s stock valued at $55,000 after purchasing an additional 180 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Vail Resorts Stock Performance

The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.63 and a quick ratio of 0.51. The stock has a 50 day moving average price of $168.46 and a two-hundred day moving average price of $175.96.

About Vail Resorts

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.