Zacks Research upgraded shares of Las Vegas Sands (NYSE:LVS – Free Report) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks reports.
LVS has been the subject of several other research reports. Barclays lowered their price target on Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. HSBC reduced their price target on shares of Las Vegas Sands from $78.00 to $68.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Stifel Nicolaus cut their target price on Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. 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. Finally, Citigroup dropped their price objective on Las Vegas Sands from $73.00 to $71.50 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.84.
View Our Latest Stock Analysis on LVS
Las Vegas Sands Price Performance
Las Vegas Sands (NYSE:LVS – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. 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 133.90% and a net margin of 12.59%.The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts anticipate that Las Vegas Sands will post 3.09 earnings per share for the current fiscal year.
Las Vegas Sands Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 annualized dividend and a yield of 3.3%. Las Vegas Sands’s payout ratio is 46.69%.
Institutional Investors Weigh In On Las Vegas Sands
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bamco Inc. NY bought a new position in Las Vegas Sands in the 2nd quarter worth approximately $174,796,000. Arrowstreet Capital Limited Partnership lifted its stake in Las Vegas Sands by 58.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,186,257 shares of the casino operator’s stock worth $532,843,000 after purchasing an additional 3,018,704 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Las Vegas Sands during the 2nd quarter valued at about $107,407,000. Legal & General Group Plc bought a new stake in shares of Las Vegas Sands in the second quarter worth about $83,696,000. Finally, Amundi boosted its stake in Las Vegas Sands by 157.2% during the first quarter. Amundi now owns 2,864,789 shares of the casino operator’s stock valued at $154,355,000 after buying an additional 1,750,758 shares during the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.
About Las Vegas Sands
Las Vegas Sands Corp. (NYSE: LVS) is a global developer and operator of integrated resorts that combine casino gaming with hotels, convention and exhibition facilities, retail, dining and entertainment venues. The company’s properties are designed to serve leisure travelers, business visitors and convention groups.
Las Vegas Sands operates major integrated resorts in Macau, including The Venetian Macao, The Parisian Macao, The Londoner Macao and Four Seasons Hotel Macao. In Singapore, it operates Marina Bay Sands, a large resort featuring hotel accommodations, gaming, shopping, dining, entertainment and convention facilities.
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