Las Vegas Sands Corp. (LVS) Upgraded to “Strong-Buy” by Vetr Inc.
Vetr upgraded shares of Las Vegas Sands Corp. (NYSE:LVS) from a buy rating to a strong-buy rating in a report released on Tuesday. Vetr currently has $68.87 target price on the casino operator’s stock.
A number of other research firms have also recently issued reports on LVS. Telsey Advisory Group increased their target price on Las Vegas Sands Corp. from $47.00 to $50.00 and gave the stock a market perform rating in a report on Tuesday, July 26th. JPMorgan Chase & Co. reduced their price objective on shares of Las Vegas Sands Corp. from $52.00 to $47.00 and set a neutral rating for the company in a research note on Thursday, July 14th. Goldman Sachs Group Inc. restated a neutral rating on shares of Las Vegas Sands Corp. in a research note on Wednesday, October 5th. Susquehanna restated a positive rating and set a $63.00 price objective on shares of Las Vegas Sands Corp. in a research note on Thursday, September 8th. Finally, Deutsche Bank AG restated a hold rating on shares of Las Vegas Sands Corp. in a research note on Sunday, June 26th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $55.76.
Shares of Las Vegas Sands Corp. (NYSE:LVS) opened at 58.96 on Tuesday. The firm has a market cap of $46.85 billion, a price-to-earnings ratio of 28.70 and a beta of 2.04. Las Vegas Sands Corp. has a 52 week low of $34.88 and a 52 week high of $60.00. The firm’s 50-day moving average price is $55.86 and its 200-day moving average price is $49.70.
Las Vegas Sands Corp. (NYSE:LVS) last released its earnings results on Monday, July 25th. The casino operator reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.76 billion. Las Vegas Sands Corp. had a return on equity of 22.12% and a net margin of 14.69%. Las Vegas Sands Corp.’s revenue for the quarter was down 9.3% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. Equities research analysts expect that Las Vegas Sands Corp. will post $2.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 22nd were paid a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 20th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.88%. Las Vegas Sands Corp.’s payout ratio is presently 140.49%.
Hedge funds have recently bought and sold shares of the company. Northern Cross LLC boosted its stake in Las Vegas Sands Corp. by 5.8% in the second quarter. Northern Cross LLC now owns 39,053,967 shares of the casino operator’s stock worth $1,698,457,000 after buying an additional 2,131,779 shares during the last quarter. Vontobel Asset Management Inc. raised its position in shares of Las Vegas Sands Corp. by 29.9% in the third quarter. Vontobel Asset Management Inc. now owns 6,233,310 shares of the casino operator’s stock worth $363,695,000 after buying an additional 1,434,774 shares during the period. Jericho Capital Asset Management L.P. acquired a new position in shares of Las Vegas Sands Corp. during the first quarter worth approximately $72,868,000. Newport Asia LLC acquired a new position in shares of Las Vegas Sands Corp. during the second quarter worth approximately $58,394,000. Finally, AQR Capital Management LLC raised its position in shares of Las Vegas Sands Corp. by 422.2% in the second quarter. AQR Capital Management LLC now owns 1,653,159 shares of the casino operator’s stock worth $71,896,000 after buying an additional 1,336,611 shares during the period. 37.95% of the stock is currently owned by hedge funds and other institutional investors.
Las Vegas Sands Corp. Company Profile
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that offers 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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