Las Vegas Sands (NYSE:LVS) Stock Price Crosses Above 50 Day Moving Average After Analyst Downgrade

Shares of Las Vegas Sands Corp. (NYSE:LVS) passed above its 50-day moving average during trading on Wednesday after CICC Research raised their price target on the stock from $61.20 to $67.20. The stock has a 50-day moving average of $39.45 and traded as high as $40.97. CICC Research currently has an outperform rating on the stock. Las Vegas Sands shares last traded at $40.6950, with a volume of 8,513,462 shares.

Several other research firms have also issued reports on LVS. Stifel Nicolaus reduced their price objective on shares of Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Las Vegas Sands in a report on Friday, August 21st. Jefferies Financial Group decreased their price target on shares of Las Vegas Sands from $52.00 to $47.00 and set a “hold” rating on the stock in a research note on Thursday, July 23rd. Finally, HSBC lowered 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 report on Thursday, July 23rd. Ten analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Las Vegas Sands presently has an average rating of “Hold” and a consensus price target of $53.28.

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds have recently modified their holdings of the business. Lido Advisors LLC lifted its stake in Las Vegas Sands by 12.6% in the third quarter. Lido Advisors LLC now owns 5,381 shares of the casino operator’s stock valued at $203,000 after buying an additional 601 shares in the last quarter. Kestra Investment Management LLC grew its holdings in shares of Las Vegas Sands by 3.9% in the 3rd quarter. Kestra Investment Management LLC now owns 50,505 shares of the casino operator’s stock valued at $1,910,000 after acquiring an additional 1,883 shares in the last quarter. AlphaCore Capital LLC increased its position in shares of Las Vegas Sands by 14.2% during the 3rd quarter. AlphaCore Capital LLC now owns 5,938 shares of the casino operator’s stock worth $225,000 after purchasing an additional 740 shares during the last quarter. Fulcrum Asset Management LLP increased its holdings in Las Vegas Sands by 83.6% during the third quarter. Fulcrum Asset Management LLP now owns 20,088 shares of the casino operator’s stock worth $770,000 after buying an additional 9,146 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Las Vegas Sands by 20.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,249 shares of the casino operator’s stock valued at $523,000 after purchasing an additional 2,388 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Stock Up 6.4%

The firm has a 50 day simple moving average of $39.45 and a 200-day simple moving average of $48.73. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 15.27. The stock has a market cap of $25.52 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 0.89 and a beta of 0.78.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, October 21st. The casino operator reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.14). The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.33 billion. Las Vegas Sands had a return on equity of 177.43% and a net margin of 11.85%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share. On average, equities research analysts forecast that Las Vegas Sands Corp. will post 2.86 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Monday, November 2nd will be paid a $0.30 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.20 annualized dividend and a yield of 2.9%. Las Vegas Sands’s payout ratio is 49.18%.

About Las Vegas Sands

Las Vegas Sands Corp. (NYSE: LVS) is a global developer and operator of integrated resorts, combining hotel accommodations, casinos, convention and exhibition facilities, restaurants, retail outlets, entertainment venues and other leisure amenities. The company serves both mass-market and premium customers through large-scale properties designed to support tourism and business travel.

Las Vegas Sands’ principal operations are in Macau and Singapore. Its Macau portfolio includes properties such as The Venetian Macao, The Londoner Macao, The Parisian Macao, Sands Macao and The Plaza Macao.