Zacks Investment Research upgraded shares of Las Vegas Sands Corp. (NYSE:LVS) from a hold rating to a buy rating in a report published on Thursday. They currently have $71.00 price objective on the casino operator’s stock.
According to Zacks, “Las Vegas Sands’ Q3 adjusted earnings of 77 cents surpassed the Zacks Consensus Estimate by 14.9% and rose 8.5% year over year on higher revenues. Quarterly revenues of $3.2 billion also topped the consensus mark by nearly 3% and jumped 7.7% year over year given robust results at Parsian Macao and Marina Bay Sands. The company is positive on the prospects of The Parisian Macao and expects it to deliver continued growth in the long haul. In fact, the company’s planned investment of over $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. Even so, its shares have underperformed the industry in the past six months. Also, fears of another corruption crackdown by the authorities may hamper performance. Even so, upward estimate revisions raise optimism and high occupancy rates at the Las Vegas properties may drive growth.”
LVS has been the subject of several other reports. Stifel Nicolaus reiterated a buy rating on shares of Las Vegas Sands Corp. in a research report on Sunday, September 3rd. Bank of America Corporation reiterated a buy rating and issued a $67.00 price target (up from $65.00) on shares of Las Vegas Sands Corp. in a research report on Friday, July 21st. Deutsche Bank AG reiterated a hold rating and issued a $54.00 price target (up from $52.00) on shares of Las Vegas Sands Corp. in a research report on Thursday, July 27th. Roth Capital initiated coverage on Las Vegas Sands Corp. in a research report on Wednesday. They issued a buy rating and a $69.00 price target for the company. Finally, Wells Fargo & Company reiterated a neutral rating on shares of Las Vegas Sands Corp. in a research report on Tuesday, July 4th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Las Vegas Sands Corp. has a consensus rating of Buy and a consensus price target of $65.04.
Las Vegas Sands Corp. (LVS) traded down 1.33% during mid-day trading on Thursday, hitting $61.75. The stock had a trading volume of 4,076,375 shares. The firm’s 50-day moving average is $63.44 and its 200 day moving average is $61.50. Las Vegas Sands Corp. has a 12 month low of $51.35 and a 12 month high of $66.22. The company has a market cap of $48.86 billion, a price-to-earnings ratio of 24.03 and a beta of 1.76.
Las Vegas Sands Corp. (NYSE:LVS) last announced its quarterly earnings results on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.10. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Las Vegas Sands Corp. had a return on equity of 30.84% and a net margin of 16.80%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share. Equities analysts anticipate that Las Vegas Sands Corp. will post $2.81 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 21st will be issued a dividend of $0.73 per share. The ex-dividend date is Wednesday, December 20th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 4.73%. Las Vegas Sands Corp.’s dividend payout ratio (DPR) is 110.19%.
Several hedge funds have recently bought and sold shares of LVS. Janus Henderson Group PLC grew its holdings in shares of Las Vegas Sands Corp. by 183.0% during the 2nd quarter. Janus Henderson Group PLC now owns 3,241,450 shares of the casino operator’s stock worth $207,090,000 after acquiring an additional 2,095,879 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Las Vegas Sands Corp. by 40.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,506,795 shares of the casino operator’s stock worth $415,720,000 after acquiring an additional 1,886,376 shares during the period. Capital World Investors grew its holdings in shares of Las Vegas Sands Corp. by 14.5% during the 2nd quarter. Capital World Investors now owns 9,998,000 shares of the casino operator’s stock worth $638,772,000 after acquiring an additional 1,263,000 shares during the period. American Century Companies Inc. grew its holdings in shares of Las Vegas Sands Corp. by 41.3% during the 2nd quarter. American Century Companies Inc. now owns 3,509,869 shares of the casino operator’s stock worth $224,246,000 after acquiring an additional 1,025,607 shares during the period. Finally, Maverick Capital Ltd. grew its holdings in shares of Las Vegas Sands Corp. by 169.2% during the 2nd quarter. Maverick Capital Ltd. now owns 1,369,589 shares of the casino operator’s stock worth $87,503,000 after acquiring an additional 860,856 shares during the period. Hedge funds and other institutional investors own 38.23% of the company’s stock.
About Las Vegas Sands Corp.
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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