Zacks Investment Research upgraded shares of Vail Resorts, Inc. (NYSE:MTN) from a hold rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $209.00 price target on the stock.
According to Zacks, “Vail Resorts, Inc. is one of the leading resort operators in North America. The company’s operations are grouped into two segments, Resort and Real Estate. In the company’s Resort segment, they own and operate resort properties which provide a comprehensive resort experience throughout the year to a diverse clientele with an attractive demographic profile. The company’s Real Estate segment develops, buys and sells real estate in and around the their resort communities. “
MTN has been the subject of several other reports. Janney Montgomery Scott reissued a buy rating and set a $195.00 price objective on shares of Vail Resorts in a research note on Friday, January 20th. Stifel Nicolaus boosted their price objective on shares of Vail Resorts from $181.00 to $205.00 and gave the company a hold rating in a research note on Monday, March 13th. MKM Partners reissued a buy rating and set a $187.00 price objective on shares of Vail Resorts in a research note on Friday, December 23rd. Finally, Wells Fargo & Co reissued an outperform rating and set a $207.50 price objective (up from $192.50) on shares of Vail Resorts in a research note on Tuesday, March 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Vail Resorts presently has an average rating of Buy and a consensus target price of $186.83.
Shares of Vail Resorts (NYSE:MTN) traded down 0.22% during trading on Wednesday, hitting $188.59. The company’s stock had a trading volume of 48,409 shares. The company has a market cap of $7.55 billion, a PE ratio of 40.53 and a beta of 0.47. The firm’s 50 day moving average price is $180.07 and its 200-day moving average price is $165.04. Vail Resorts has a 52 week low of $124.00 and a 52 week high of $194.05.
Vail Resorts (NYSE:MTN) last announced its quarterly earnings data on Friday, March 10th. The company reported $3.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.37 by $0.26. Vail Resorts had a net margin of 9.14% and a return on equity of 13.81%. The company earned $725.20 million during the quarter, compared to analysts’ expectations of $708.73 million. During the same period in the previous year, the company earned $3.14 EPS. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, analysts predict that Vail Resorts will post $5.35 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Wednesday, March 29th will be given a dividend of $1.053 per share. This represents a $4.21 dividend on an annualized basis and a yield of 2.23%. This is a boost from Vail Resorts’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, March 27th. Vail Resorts’s dividend payout ratio is 83.72%.
In related news, Director John Redmond sold 7,500 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $161.51, for a total transaction of $1,211,325.00. Following the completion of the sale, the director now directly owns 14,890 shares of the company’s stock, valued at approximately $2,404,883.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in MTN. Price T Rowe Associates Inc. MD boosted its stake in shares of Vail Resorts by 2.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,391,835 shares of the company’s stock worth $532,111,000 after buying an additional 89,241 shares during the period. FMR LLC boosted its stake in shares of Vail Resorts by 4.3% in the fourth quarter. FMR LLC now owns 2,520,411 shares of the company’s stock worth $406,568,000 after buying an additional 103,849 shares during the period. William Blair Investment Management LLC boosted its stake in shares of Vail Resorts by 115.7% in the fourth quarter. William Blair Investment Management LLC now owns 742,376 shares of the company’s stock worth $119,753,000 after buying an additional 398,145 shares during the period. State Street Corp boosted its stake in shares of Vail Resorts by 3.2% in the fourth quarter. State Street Corp now owns 532,673 shares of the company’s stock worth $85,928,000 after buying an additional 16,706 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in shares of Vail Resorts by 13.1% in the third quarter. Eagle Asset Management Inc. now owns 393,956 shares of the company’s stock worth $61,803,000 after buying an additional 45,670 shares during the period. 93.34% of the stock is owned by hedge funds and other institutional investors.
About Vail Resorts
Vail Resorts, Inc is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. Its Mountain segment operates over 10 mountain resort properties and approximately three urban ski areas, as well as ancillary services, primarily including, ski school, dining, and retail/rental operations.
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