Shares of Las Vegas Sands Corp. (NYSE:LVS) hit a new 52-week low on Thursday . The stock traded as low as $59.04 and last traded at $59.88, with a volume of 72252 shares trading hands. The stock had previously closed at $59.49.
Several brokerages have recently weighed in on LVS. Zacks Investment Research lowered Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a report on Monday, June 18th. ValuEngine lowered Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Stifel Nicolaus reduced their target price on Las Vegas Sands from $88.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Morgan Stanley upped their target price on Las Vegas Sands from $85.00 to $86.00 and gave the company an “overweight” rating in a report on Tuesday, June 26th. Finally, Nomura reduced their target price on Las Vegas Sands from $76.00 to $72.00 and set a “neutral” rating for the company in a report on Monday, July 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Las Vegas Sands currently has an average rating of “Hold” and an average target price of $77.00.
The firm has a market cap of $47.80 billion, a P/E ratio of 19.67 and a beta of 1.61. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.70 and a quick ratio of 1.68.
Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, July 25th. The casino operator reported $0.74 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.06). Las Vegas Sands had a net margin of 28.06% and a return on equity of 35.22%. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the company earned $0.73 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. sell-side analysts predict that Las Vegas Sands Corp. will post 3.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Wednesday, September 19th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 5.01%. The ex-dividend date is Tuesday, September 18th. Las Vegas Sands’s dividend payout ratio is 98.68%.
In related news, EVP Lawrence A. Jacobs sold 66,667 shares of the stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $60.95, for a total value of $4,063,353.65. Following the completion of the sale, the executive vice president now directly owns 66,667 shares of the company’s stock, valued at approximately $4,063,353.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert G. Goldstein acquired 10,000 shares of Las Vegas Sands stock in a transaction that occurred on Tuesday, July 31st. The stock was acquired at an average cost of $71.13 per share, with a total value of $711,300.00. Following the completion of the purchase, the chief operating officer now owns 10,000 shares in the company, valued at approximately $711,300. The disclosure for this purchase can be found here. 10.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. United Services Automobile Association lifted its stake in Las Vegas Sands by 8.4% in the 2nd quarter. United Services Automobile Association now owns 1,307,544 shares of the casino operator’s stock worth $99,844,000 after acquiring an additional 100,908 shares in the last quarter. Royal London Asset Management Ltd. purchased a new stake in Las Vegas Sands in the 2nd quarter worth about $11,684,000. Northern Trust Corp lifted its stake in Las Vegas Sands by 8.6% in the 2nd quarter. Northern Trust Corp now owns 2,776,337 shares of the casino operator’s stock worth $212,002,000 after acquiring an additional 220,931 shares in the last quarter. Andra AP fonden lifted its stake in Las Vegas Sands by 7.8% in the 2nd quarter. Andra AP fonden now owns 113,000 shares of the casino operator’s stock worth $8,629,000 after acquiring an additional 8,200 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in Las Vegas Sands by 58.4% in the 2nd quarter. Schroder Investment Management Group now owns 3,132,036 shares of the casino operator’s stock worth $236,844,000 after acquiring an additional 1,154,672 shares in the last quarter. 38.52% of the stock is owned by hedge funds and other institutional investors.
About Las Vegas Sands (NYSE:LVS)
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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