Zacks Investment Research upgraded shares of Las Vegas Sands (NYSE:LVS) from a hold rating to a buy rating in a research note published on Wednesday. The firm currently has $80.00 price target on the casino operator’s stock.
According to Zacks, “Las Vegas Sands’ consistent efforts to boost tourism and traffic in Macao are yielding results. Focus on diversification and growth in the mass and non-gaming market also bode well and should aid margins. Going forward, it is particularly positive on the prospects of The Parisian Macao and expects it to deliver continued growth. The company’s planned investment of more than $1.1 billion in new capital projects in Macao over the next three years, given the continual revival of gaming revenues therein, also bodes well for long-term growth. Moreover, Las Vegas Sands’ shares have outperformed the industry in the past six months. However, fears of another corruption crackdown by the authorities may hamper the company’s performance. Even so, upward estimate revisions raise optimism. High occupancy rates at the Las Vegas properties are likely to drive growth.”
LVS has been the subject of several other reports. Stifel Nicolaus reaffirmed a buy rating and issued a $76.00 target price on shares of Las Vegas Sands in a research note on Tuesday, January 9th. Barclays upped their price target on shares of Las Vegas Sands from $69.00 to $75.00 and gave the stock an overweight rating in a research report on Thursday, December 7th. Deutsche Bank upped their price target on shares of Las Vegas Sands from $54.00 to $57.00 and gave the stock a hold rating in a research report on Thursday, October 26th. Nomura upped their price target on shares of Las Vegas Sands from $54.00 to $57.00 and gave the stock a neutral rating in a research report on Thursday, October 26th. Finally, Gabelli upped their price target on shares of Las Vegas Sands from $60.00 to $68.00 and gave the stock a buy rating in a research report on Thursday, October 26th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $66.71.
Las Vegas Sands (NYSE:LVS) traded up $0.78 during trading hours on Wednesday, reaching $74.51. The company’s stock had a trading volume of 3,394,932 shares, compared to its average volume of 2,900,000. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 1.38. Las Vegas Sands has a one year low of $51.35 and a one year high of $75.00. The firm has a market capitalization of $58,900.00, a PE ratio of 28.12 and a beta of 1.80.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, October 25th. The casino operator reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Las Vegas Sands had a return on equity of 31.11% and a net margin of 16.80%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. equities analysts predict that Las Vegas Sands will post 2.9 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Thursday, December 21st were issued a $0.73 dividend. The ex-dividend date was Wednesday, December 20th. This represents a $2.92 dividend on an annualized basis and a yield of 3.92%. Las Vegas Sands’s dividend payout ratio is currently 110.19%.
In other news, Director George Jamieson acquired 1,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were purchased at an average price of $66.96 per share, for a total transaction of $66,960.00. Following the acquisition, the director now directly owns 6,488 shares of the company’s stock, valued at approximately $434,436.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.10% of the company’s stock.
Hedge funds have recently modified their holdings of the business. San Francisco Sentry Investment Group CA purchased a new stake in shares of Las Vegas Sands in the 3rd quarter valued at approximately $181,000. Steward Partners Investment Advisory LLC bought a new stake in Las Vegas Sands during the third quarter worth $198,000. Chase Investment Counsel Corp bought a new stake in Las Vegas Sands during the third quarter worth $200,000. Crossmark Global Holdings Inc. bought a new stake in Las Vegas Sands during the third quarter worth $209,000. Finally, SevenBridge Financial Group LLC raised its position in Las Vegas Sands by 199.5% during the third quarter. SevenBridge Financial Group LLC now owns 3,250 shares of the casino operator’s stock worth $209,000 after acquiring an additional 2,165 shares in the last quarter. Hedge funds and other institutional investors own 37.45% of the company’s stock.
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About Las Vegas Sands
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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