Goldman Sachs Group cut shares of Las Vegas Sands (NYSE:LVS) from a conviction-buy rating to a buy rating in a report issued on Friday, The Fly reports.
Other research analysts have also issued research reports about the company. HSBC upgraded Las Vegas Sands from a hold rating to a buy rating and set a $69.00 price target for the company in a research report on Monday, October 15th. Stifel Nicolaus reduced their price target on Las Vegas Sands from $88.00 to $86.00 and set a buy rating for the company in a research report on Thursday, July 26th. Bank of America restated a hold rating and issued a $60.00 price objective on shares of Las Vegas Sands in a report on Tuesday, October 16th. ValuEngine lowered Las Vegas Sands from a buy rating to a hold rating in a report on Monday, July 2nd. Finally, Credit Suisse Group assumed coverage on Las Vegas Sands in a report on Tuesday, August 14th. They issued a neutral rating and a $72.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $75.00.
Shares of LVS stock opened at $55.66 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.70 and a debt-to-equity ratio of 1.40. Las Vegas Sands has a 1 year low of $55.05 and a 1 year high of $81.45. The firm has a market cap of $43.86 billion, a price-to-earnings ratio of 18.31 and a beta of 1.55.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, July 25th. The casino operator reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.06). Las Vegas Sands had a return on equity of 35.22% and a net margin of 28.06%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the firm posted $0.73 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Las Vegas Sands will post 3.51 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Wednesday, September 19th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend was Tuesday, September 18th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 98.68%.
In other news, EVP Lawrence A. Jacobs sold 66,667 shares of the business’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $60.95, for a total transaction of $4,063,353.65. Following the sale, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at $4,063,353.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Robert G. Goldstein bought 10,000 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were bought at an average cost of $71.13 per share, for a total transaction of $711,300.00. Following the completion of the transaction, the chief operating officer now directly owns 10,000 shares of the company’s stock, valued at $711,300. The disclosure for this purchase can be found here. 10.20% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in Las Vegas Sands by 20.5% during the second quarter. BlackRock Inc. now owns 19,856,347 shares of the casino operator’s stock valued at $1,516,232,000 after buying an additional 3,371,432 shares during the period. Schroder Investment Management Group raised its position in Las Vegas Sands by 58.4% during the second quarter. Schroder Investment Management Group now owns 3,132,036 shares of the casino operator’s stock valued at $236,844,000 after buying an additional 1,154,672 shares during the period. Waddell & Reed Financial Inc. raised its position in Las Vegas Sands by 83.7% during the second quarter. Waddell & Reed Financial Inc. now owns 1,786,691 shares of the casino operator’s stock valued at $136,432,000 after buying an additional 813,987 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Las Vegas Sands by 741.4% during the second quarter. Nomura Asset Management Co. Ltd. now owns 584,126 shares of the casino operator’s stock valued at $44,604,000 after buying an additional 514,700 shares during the period. Finally, Aviva PLC raised its position in Las Vegas Sands by 223.7% during the second quarter. Aviva PLC now owns 595,204 shares of the casino operator’s stock valued at $45,450,000 after buying an additional 411,308 shares during the period. 38.42% of the stock is currently owned by institutional investors.
Las Vegas Sands Company Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.
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