Las Vegas Sands (LVS) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Las Vegas Sands (NYSE:LVS) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $80.00 price target on the casino operator’s stock.
According to Zacks, “Las Vegas Sands’ consistent efforts to boost tourism and traffic in Macao are yielding results. Focus on diversification and growth in the mass and non-gaming market also bode well and should aid margins. Going forward, it is particularly positive on the prospects of The Parisian Macao and expects it to deliver continued growth. The company’s planned investment of more than $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. Moreover, Las Vegas Sands’ shares have outperformed the industry in the past six months. However, fears of another corruption crackdown by the authorities may hamper the company’s performance. Even so, upward estimate revisions raise optimism. High occupancy rates at the Las Vegas properties are likely to drive growth.”
LVS has been the subject of a number of other research reports. Stifel Nicolaus reaffirmed a buy rating and issued a $76.00 price target on shares of Las Vegas Sands in a research report on Tuesday, January 9th. Barclays boosted their price target on Las Vegas Sands from $69.00 to $75.00 and gave the stock an overweight rating in a research report on Thursday, December 7th. Deutsche Bank boosted their price target on Las Vegas Sands from $54.00 to $57.00 and gave the stock a hold rating in a research report on Thursday, October 26th. Nomura boosted their price target on Las Vegas Sands from $54.00 to $57.00 and gave the stock a neutral rating in a research report on Thursday, October 26th. Finally, Gabelli boosted their price target on Las Vegas Sands from $60.00 to $68.00 and gave the stock a buy rating in a research report on Thursday, October 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $66.71.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.10. Las Vegas Sands had a return on equity of 31.11% and a net margin of 16.80%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. equities analysts forecast that Las Vegas Sands will post 2.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, December 21st were given a dividend of $0.73 per share. The ex-dividend date was Wednesday, December 20th. This represents a $2.92 annualized dividend and a dividend yield of 3.92%. Las Vegas Sands’s dividend payout ratio is presently 110.19%.
In other Las Vegas Sands news, Director George Jamieson acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was acquired at an average price of $66.96 per share, with a total value of $66,960.00. Following the transaction, the director now owns 6,488 shares of the company’s stock, valued at $434,436.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of LVS. Stephens Inc. AR raised its holdings in Las Vegas Sands by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 4,389 shares of the casino operator’s stock valued at $280,000 after acquiring an additional 31 shares in the last quarter. Toronto Dominion Bank raised its holdings in Las Vegas Sands by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 24,878 shares of the casino operator’s stock valued at $1,592,000 after acquiring an additional 94 shares in the last quarter. Nordea Investment Management AB raised its holdings in Las Vegas Sands by 2.1% in the 2nd quarter. Nordea Investment Management AB now owns 14,515 shares of the casino operator’s stock valued at $927,000 after acquiring an additional 299 shares in the last quarter. Advisory Services Network LLC raised its holdings in Las Vegas Sands by 6.7% in the 2nd quarter. Advisory Services Network LLC now owns 5,245 shares of the casino operator’s stock valued at $335,000 after acquiring an additional 329 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC raised its holdings in Las Vegas Sands by 4.4% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 12,973 shares of the casino operator’s stock valued at $829,000 after acquiring an additional 550 shares in the last quarter. 37.45% of the stock is owned by institutional investors and hedge funds.
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Las Vegas Sands 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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