Madison Asset Management LLC bought a new position in shares of Las Vegas Sands Corp. (NYSE:LVS – Free Report) during the second quarter, Holdings Channel reports. The firm bought 185,500 shares of the casino operator’s stock, valued at approximately $8,568,000.
Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Las Vegas Sands during the fourth quarter worth about $26,000. DV Equities LLC bought a new stake in Las Vegas Sands in the fourth quarter worth about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in Las Vegas Sands in the fourth quarter valued at about $29,000. Wilmington Savings Fund Society FSB boosted its stake in Las Vegas Sands by 254.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after acquiring an additional 400 shares during the last quarter. Finally, Activest Wealth Management grew its position in shares of 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 during the period. Institutional investors own 39.16% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on LVS shares. Wall Street Zen lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. UBS Group set a $52.00 price objective on Las Vegas Sands in a research note on Thursday, July 2nd. HSBC increased 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 downgraded Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Finally, Mizuho lowered their target price on Las Vegas Sands from $67.00 to $61.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.88.
Las Vegas Sands Stock Up 2.5%
Shares of NYSE:LVS opened at $46.59 on Thursday. The firm has a fifty day moving average price of $46.86 and a two-hundred day moving average price of $51.48. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99. Las Vegas Sands Corp. has a one year low of $44.21 and a one year high of $70.45. The company has a market cap of $30.18 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 1.12 and a beta of 0.85.
Las Vegas Sands (NYSE:LVS – Get Free Report) last released 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). The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. Analysts anticipate that Las Vegas Sands Corp. will post 3.09 EPS for the current fiscal year.
Las Vegas Sands Announces Dividend
The firm 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. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands’s payout ratio is presently 46.69%.
Las Vegas Sands Company Profile
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.
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