Las Vegas Sands (NYSE:LVS) Sets New 1-Year Low – Here’s What Happened

Shares of Las Vegas Sands Corp. (NYSE:LVS) hit a new 52-week low during trading on Wednesday. The company traded as low as $38.06 and last traded at $38.0790, with a volume of 2763545 shares traded. The stock had previously closed at $38.32.

Analyst Ratings Changes

LVS has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their target price on Las Vegas Sands from $52.00 to $47.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Seaport Research Partners cut their price objective on shares of Las Vegas Sands from $69.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, July 23rd. UBS Group set a $52.00 target price on Las Vegas Sands in a research report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their price objective on Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, July 23rd. Finally, HC Wainwright lowered shares of Las Vegas Sands to a “neutral” rating in a research report on Thursday, July 30th. Ten investment 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.84.

Las Vegas Sands Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 15.27. The firm has a market cap of $23.75 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 0.93 and a beta of 0.78. The stock has a 50 day moving average price of $44.04 and a two-hundred day moving average price of $48.50.

Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, equities analysts expect that Las Vegas Sands Corp. will post 3.09 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio (DPR) is 46.69%.

Hedge Funds Weigh In On Las Vegas Sands

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp grew its position in shares of Las Vegas Sands by 6.5% during the 2nd quarter. State Street Corp now owns 15,159,570 shares of the casino operator’s stock valued at $700,221,000 after acquiring an additional 919,452 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Las Vegas Sands in the 2nd quarter valued at $107,407,000. SG Americas Securities LLC raised its position in Las Vegas Sands by 74.2% during the first quarter. SG Americas Securities LLC now owns 1,529,236 shares of the casino operator’s stock worth $82,395,000 after acquiring an additional 651,214 shares during the period. Fieldview Capital Management LLC acquired a new stake in shares of Las Vegas Sands in the fourth quarter valued at about $4,561,000. Finally, Bank of America Corp DE acquired a new position in shares of Las Vegas Sands during the 2nd quarter worth about $40,380,000. Institutional investors and hedge funds own 39.16% of the company’s stock.

About Las Vegas Sands

Las Vegas Sands Corp. (NYSE: LVS) is a global developer and operator of integrated resorts that combine casino gaming with hotels, convention and exhibition facilities, retail, dining and entertainment venues. The company’s properties are designed to serve leisure travelers, business visitors and convention groups.

Las Vegas Sands operates major integrated resorts in Macau, including The Venetian Macao, The Parisian Macao, The Londoner Macao and Four Seasons Hotel Macao. In Singapore, it operates Marina Bay Sands, a large resort featuring hotel accommodations, gaming, shopping, dining, entertainment and convention facilities.