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

Vail Resorts, Inc. (NYSE:MTN)’s stock price gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. 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 traded.

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

Vail Resorts Announces Dividend

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

Analyst Upgrades and Downgrades

MTN has been the subject of several research analyst reports. StockNews.com cut Vail Resorts from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus cut their price target on Vail Resorts from $223.00 to $216.00 and set a “buy” rating for the company in a report on Friday. Barclays cut their price target on Vail Resorts from $161.00 to $155.00 and set an “underweight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on Vail Resorts from $218.00 to $194.00 and set a “hold” rating for the company in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. cut Vail Resorts from a “neutral” rating to an “underweight” rating and cut their price target for the company from $217.00 to $176.00 in a report on Friday, June 7th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $211.75.

Institutional Investors Weigh In On Vail Resorts

Large investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co grew its position in Vail Resorts by 66.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 45,233 shares of the company’s stock worth $10,082,000 after acquiring an additional 17,976 shares during the last quarter. Quantbot Technologies LP bought a new position in Vail Resorts in the 1st quarter valued at $3,228,000. Nordea Investment Management AB boosted its position in Vail Resorts by 5.9% in the 1st quarter. Nordea Investment Management AB now owns 441,749 shares of the company’s stock valued at $98,470,000 after buying an additional 24,456 shares during the last quarter. Junto Capital Management LP bought a new position in Vail Resorts in the 4th quarter valued at $14,011,000. Finally, Edgestream Partners L.P. boosted its position in Vail Resorts by 146.3% in the 1st quarter. Edgestream Partners L.P. now owns 12,147 shares of the company’s stock valued at $2,707,000 after buying an additional 7,216 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Vail Resorts Price Performance

The stock has a market capitalization of $6.80 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.08 and a current ratio of 1.18. The stock has a 50-day simple moving average of $179.54 and a 200 day simple moving average of $191.96.

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.