Zacks Investment Research upgraded shares of Las Vegas Sands Corp. (NYSE:LVS) from a hold rating to a buy rating in a research note published on Thursday, October 26th. 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.”
A number of other research firms have also recently commented on LVS. Roth Capital initiated coverage on shares of Las Vegas Sands Corp. in a research note on Wednesday, October 25th. They set a buy rating and a $69.00 target price for the company. Stifel Nicolaus restated a buy rating on shares of Las Vegas Sands Corp. in a research report on Sunday, September 3rd. Wells Fargo & Company restated a neutral rating on shares of Las Vegas Sands Corp. in a research report on Tuesday, July 4th. Deutsche Bank AG restated a hold rating and set a $54.00 price target (up from $52.00) on shares of Las Vegas Sands Corp. in a research report on Thursday, July 27th. Finally, Bank of America Corporation restated a buy rating and set a $67.00 price target (up from $65.00) on shares of Las Vegas Sands Corp. in a research report on Friday, July 21st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Las Vegas Sands Corp. has an average rating of Buy and an average target price of $65.31.
Las Vegas Sands Corp. (NYSE:LVS) opened at $67.27 on Thursday. Las Vegas Sands Corp. has a fifty-two week low of $51.35 and a fifty-two week high of $68.41. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 1.38. The stock has a market cap of $53,159.78, a price-to-earnings ratio of 24.19 and a beta of 1.78.
Las Vegas Sands Corp. (NYSE:LVS) last released its quarterly earnings data on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 16.80% and a return on equity of 31.11%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.72 earnings per share. analysts forecast that Las Vegas Sands Corp. will post 2.87 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, December 21st will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Wednesday, December 20th. Las Vegas Sands Corp.’s dividend payout ratio (DPR) is presently 110.19%.
Hedge funds have recently added to or reduced their stakes in the company. ARGA Investment Management LP lifted its stake in shares of Las Vegas Sands Corp. by 110.7% in the 2nd quarter. ARGA Investment Management LP now owns 45,300 shares of the casino operator’s stock worth $2,894,000 after acquiring an additional 23,800 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Las Vegas Sands Corp. by 5.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 75,993 shares of the casino operator’s stock worth $4,855,000 after acquiring an additional 3,664 shares during the period. Investec Asset Management LTD lifted its stake in shares of Las Vegas Sands Corp. by 38.5% in the 2nd quarter. Investec Asset Management LTD now owns 1,800,200 shares of the casino operator’s stock worth $115,015,000 after acquiring an additional 500,619 shares during the period. Monetta Financial Services Inc. acquired a new stake in shares of Las Vegas Sands Corp. in the 2nd quarter worth $1,278,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Las Vegas Sands Corp. by 49.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,059,707 shares of the casino operator’s stock valued at $67,705,000 after purchasing an additional 350,884 shares in the last quarter. Institutional investors own 38.24% of the company’s stock.
Las Vegas Sands Corp. Company Profile
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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