Las Vegas Sands (NYSE:LVS) Stock Price Down 4.2% – Here’s What Happened

Las Vegas Sands Corp. (NYSE:LVS)’s share price traded down 4.2% on Monday . The company traded as low as $46.50 and last traded at $46.8360. 1,413,175 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 4,933,830 shares. The stock had previously closed at $48.89.

Analysts Set New Price Targets

Several research analysts have issued reports on LVS shares. Seaport Research Partners dropped their target price on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. The Goldman Sachs Group decreased their price target on Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. HSBC boosted their price objective on Las Vegas Sands from $73.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Weiss Ratings lowered Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $62.00 target price (down from $73.00) on shares of Las Vegas Sands in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Las Vegas Sands presently has a consensus rating of “Hold” and an average target price of $61.88.

Las Vegas Sands Stock Performance

The firm has a 50 day moving average of $48.02 and a 200-day moving average of $52.51. The company has a market cap of $29.82 billion, a P/E ratio of 17.92, a PEG ratio of 1.15 and a beta of 0.85. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 15.27.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm earned $0.66 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Las Vegas Sands Corp. will post 3.12 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. Las Vegas Sands’s dividend payout ratio is 46.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC bought a new position in shares of Las Vegas Sands during the fourth quarter valued at approximately $26,000. DV Equities LLC bought a new position in Las Vegas Sands in the fourth quarter worth approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Las Vegas Sands in the fourth quarter worth approximately $29,000. Wilmington Savings Fund Society FSB lifted its holdings in Las Vegas Sands by 254.8% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock worth $36,000 after buying an additional 400 shares during the period. Finally, Activest Wealth Management boosted its position in Las Vegas Sands by 1,208.0% during the 4th quarter. Activest Wealth Management now owns 654 shares of the casino operator’s stock valued at $43,000 after acquiring an additional 604 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

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.