Zacks Investment Research downgraded shares of Las Vegas Sands Corp. (NYSE:LVS) from a buy rating to a hold rating in a report published on Friday, August 4th.
According to Zacks, “Las Vegas Sands’ second-quarter adjusted earnings of $0.73 topped the Zacks Consensus Estimate by 10.7% and rose 37.7% year over year due to higher revenues. Quarterly revenues of $3.14 billion also topped the consensus mark by over 4% and jumped 18.6% year over year given robust performance at its Las Vegas properties and mostly solid results in Macao. Going forward, the company is positive on its Cotai Strip portfolio of properties, buoyed by the addition of The Parisian Macao. In fact, the company’s shares have slightly outpaced the industry over the past six months. However, fears of another corruption crackdown by the authorities may hamper the company’s performance. Concerns related to the sustainability of revenues from the VIP market also linger. Even so, focus on diversification and growth in the mass and non-gaming market in Macao bodes well. High occupancy rates at the Las Vegas properties should also drive growth.”
LVS has been the subject of several other research reports. Stifel Nicolaus reduced their price objective on shares of Las Vegas Sands Corp. from $65.00 to $63.00 and set a buy rating for the company in a research note on Monday, April 10th. Aegis reaffirmed a buy rating and set a $60.00 price objective (up previously from $59.00) on shares of Las Vegas Sands Corp. in a research note on Sunday, April 23rd. CLSA reaffirmed a buy rating on shares of Las Vegas Sands Corp. in a research note on Thursday, April 27th. Susquehanna Bancshares Inc reaffirmed a buy rating and set a $69.00 price objective on shares of Las Vegas Sands Corp. in a research note on Friday, April 28th. Finally, Vetr raised shares of Las Vegas Sands Corp. from a hold rating to a buy rating and set a $63.09 price objective for the company in a research note on Wednesday, May 31st. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $63.10.
Shares of Las Vegas Sands Corp. (NYSE:LVS) opened at 60.01 on Friday. The company’s 50-day moving average price is $61.57 and its 200-day moving average price is $58.52. Las Vegas Sands Corp. has a 52-week low of $49.89 and a 52-week high of $66.22. The firm has a market capitalization of $47.53 billion, a P/E ratio of 23.35 and a beta of 1.81.
Las Vegas Sands Corp. (NYSE:LVS) last posted its quarterly earnings results on Wednesday, July 26th. The casino operator reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.14. Las Vegas Sands Corp. had a net margin of 16.66% and a return on equity of 29.91%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. On average, equities research analysts expect that Las Vegas Sands Corp. will post $2.74 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be issued a dividend of $0.73 per share. The ex-dividend date is Wednesday, September 20th. This represents a $2.92 dividend on an annualized basis and a yield of 4.87%. Las Vegas Sands Corp.’s dividend payout ratio is currently 113.18%.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Las Vegas Sands Corp. by 1.6% in the second quarter. Vanguard Group Inc. now owns 20,034,880 shares of the casino operator’s stock valued at $1,280,029,000 after buying an additional 322,708 shares during the period. BlackRock Inc. raised its position in shares of Las Vegas Sands Corp. by 2.3% in the second quarter. BlackRock Inc. now owns 16,129,966 shares of the casino operator’s stock valued at $1,030,543,000 after buying an additional 365,566 shares during the period. Capital World Investors raised its position in shares of Las Vegas Sands Corp. by 14.5% in the second quarter. Capital World Investors now owns 9,998,000 shares of the casino operator’s stock valued at $638,772,000 after buying an additional 1,263,000 shares during the period. State Street Corp raised its position in shares of Las Vegas Sands Corp. by 4.7% in the first quarter. State Street Corp now owns 8,023,114 shares of the casino operator’s stock valued at $457,878,000 after buying an additional 360,249 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Las Vegas Sands Corp. by 40.8% in the second quarter. Bank of New York Mellon Corp now owns 6,506,795 shares of the casino operator’s stock valued at $415,720,000 after buying an additional 1,886,376 shares during the period. Institutional investors own 38.52% of the company’s stock.
About Las Vegas Sands Corp.
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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