Las Vegas Sands (NYSE:LVS) Hits New 52-Week Low After Earnings Miss

Las Vegas Sands Corp. (NYSE:LVS)’s stock price reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $44.21 and last traded at $45.6390, with a volume of 833602 shares traded. The stock had previously closed at $45.25.

The casino operator reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $1.20 annualized dividend and a yield of 2.6%. Las Vegas Sands’s dividend payout ratio is presently 44.44%.

Las Vegas Sands News Summary

Here are the key news stories impacting Las Vegas Sands this week:

• Positive Sentiment: Las Vegas Sands declared a quarterly dividend of $0.30 per share, signaling continued cash returns to shareholders and supporting the stock’s income appeal.
• Positive Sentiment: The company also repurchased $787 million of stock during the quarter and raised its buyback authorization to $6.0 billion, which can help offset share dilution and support earnings per share over time.
• Neutral Sentiment: Analysts kept generally constructive views on the name, with Susquehanna lowering its price target to $64 from $72 while maintaining a positive rating, and other recent targets still implying meaningful upside.
• Negative Sentiment: Q2 earnings missed expectations: LVS reported $0.59 per share versus estimates around $0.76-$0.77, while revenue of $3.15 billion also came in below consensus, reinforcing concerns about near-term operating momentum.
• Negative Sentiment: Revenue declined slightly year over year, and commentary/market reaction pointed to weaker Macau gaming demand and margin pressure as key headwinds for the company’s most important market.

Wall Street Analyst Weigh In

Several research firms have weighed in on LVS. The Goldman Sachs Group set a $55.00 target price on Las Vegas Sands in a research report on Thursday. Citigroup lowered their price objective on shares of Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Wall Street Zen cut shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Mizuho upped their target price on shares of Las Vegas Sands from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Finally, UBS Group set a $52.00 target price on shares of Las Vegas Sands in a report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.69.

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in shares of Las Vegas Sands by 222.7% in the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock valued at $592,223,000 after purchasing an additional 6,279,390 shares during the last quarter. Norges Bank purchased a new position in Las Vegas Sands during the 4th quarter worth approximately $364,892,000. Arrowstreet Capital Limited Partnership grew its stake in Las Vegas Sands by 410.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock worth $277,963,000 after buying an additional 4,154,753 shares during the last quarter. M&T Bank Corp increased its position in Las Vegas Sands by 33,102.6% during the fourth quarter. M&T Bank Corp now owns 3,060,288 shares of the casino operator’s stock worth $197,463,000 after buying an additional 3,051,071 shares during the period. Finally, Amundi increased its position in Las Vegas Sands by 157.2% during the first quarter. Amundi now owns 2,864,789 shares of the casino operator’s stock worth $154,355,000 after buying an additional 1,750,758 shares during the period. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Stock Performance

The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a 50 day simple moving average of $48.43 and a two-hundred day simple moving average of $53.40. The company has a market cap of $30.38 billion, a PE ratio of 16.98, a PEG ratio of 1.12 and a beta of 0.83.

About Las Vegas Sands

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.