Las Vegas Sands (NYSE:LVS) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Las Vegas Sands (NYSE:LVS) issued its earnings results on Wednesday. The casino operator reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01), Briefing.com reports. Las Vegas Sands had a net margin of 14.08% and a return on equity of 43.61%. The business had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis.

Las Vegas Sands Price Performance

Shares of LVS stock traded up $0.01 during trading hours on Friday, hitting $39.35. The stock had a trading volume of 3,960,319 shares, compared to its average volume of 5,346,105. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.30 and a quick ratio of 1.29. The stock has a market capitalization of $29.32 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 0.74 and a beta of 1.12. Las Vegas Sands has a one year low of $38.92 and a one year high of $60.47. The stock’s 50-day moving average price is $43.56 and its two-hundred day moving average price is $48.02.

Las Vegas Sands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, August 6th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 38.65%.

Institutional Trading of Las Vegas Sands

A number of large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Las Vegas Sands in the fourth quarter worth about $266,538,000. Vanguard Group Inc. raised its holdings in Las Vegas Sands by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 36,898,186 shares of the casino operator’s stock valued at $1,815,760,000 after buying an additional 4,264,043 shares during the period. ARGA Investment Management LP raised its holdings in Las Vegas Sands by 214.5% during the 4th quarter. ARGA Investment Management LP now owns 3,110,574 shares of the casino operator’s stock valued at $153,071,000 after buying an additional 2,121,546 shares during the period. Janus Henderson Group PLC boosted its stake in Las Vegas Sands by 58.6% during the first quarter. Janus Henderson Group PLC now owns 5,330,023 shares of the casino operator’s stock worth $275,559,000 after buying an additional 1,968,941 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Las Vegas Sands by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,351,573 shares of the casino operator’s stock worth $502,307,000 after acquiring an additional 1,536,754 shares during the last quarter. Institutional investors own 39.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LVS. Barclays decreased their target price on Las Vegas Sands from $57.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Las Vegas Sands from $61.00 to $55.00 and set a “buy” rating for the company in a report on Thursday. Citigroup upped their price objective on Las Vegas Sands from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Susquehanna lowered their target price on Las Vegas Sands from $59.00 to $51.00 and set a “positive” rating on the stock in a research report on Thursday. Finally, Macquarie reduced their price target on Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.00.

About Las Vegas Sands

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.