Las Vegas Sands Corp. (NYSE:LVS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm currently has a $68.00 target price on the casino operator’s stock. Zacks Investment Research’s price target would indicate a potential upside of 8.21% from the company’s previous close.
According to Zacks, “Las Vegas Sands’ third-quarter 2016 earnings of $0.72 surpassed the Zacks Consensus Estimate by over 22%. Further, earnings increased 9% year over year due to higher revenues and profits. Quarterly revenues of $2.97 billion surpassed the consensus mark by 7.2% and inched up 2.6% due to somewhat better performance in Macao. We note that the Macau region had been struggling over the past few quarters due to the Chinese government’s anti-graft corruption drive, which has lowered footfall at the casinos. Nonetheless, the company’s consistent efforts to boost tourism and traffic therein are yielding results, and the Macao portfolio is experiencing strong visitation lately. Moreover, focus on diversification of revenues and growth in the mass and non-gaming market would continue to mitigate the effects of a slowdown in the VIP gaming business and aid margins. Yet, intense competition and high debt burden pose threats to the company.”
Several other research analysts have also weighed in on LVS. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Las Vegas Sands Corp. in a research report on Sunday, July 17th. TheStreet raised Las Vegas Sands Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Barclays PLC set a $49.00 target price on Las Vegas Sands Corp. and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Susquehanna reiterated a “positive” rating and set a $63.00 target price on shares of Las Vegas Sands Corp. in a research note on Thursday, September 8th. Finally, lifted their target price on Las Vegas Sands Corp. from $50.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, September 19th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $57.50.
Las Vegas Sands Corp. (NYSE:LVS) traded up 0.67% on Tuesday, reaching $62.84. The company’s stock had a trading volume of 1,265,730 shares. The company has a 50-day moving average price of $58.76 and a 200 day moving average price of $51.97. The company has a market cap of $49.94 billion, a P/E ratio of 30.68 and a beta of 1.98. Las Vegas Sands Corp. has a 12 month low of $34.88 and a 12 month high of $62.95.
Las Vegas Sands Corp. (NYSE:LVS) last posted its quarterly earnings results on Thursday, November 3rd. The casino operator reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.12. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.80 billion. Las Vegas Sands Corp. had a return on equity of 23.24% and a net margin of 14.53%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post $2.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, December 21st will be issued a dividend of $0.72 per share. The ex-dividend date is Monday, December 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.58%. Las Vegas Sands Corp.’s dividend payout ratio (DPR) is currently 140.49%.
Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. boosted its position in shares of Las Vegas Sands Corp. by 0.3% in the first quarter. Prudential Financial Inc. now owns 30,423 shares of the casino operator’s stock worth $1,573,000 after buying an additional 100 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Las Vegas Sands Corp. by 3.7% in the first quarter. Geode Capital Management LLC now owns 2,084,031 shares of the casino operator’s stock worth $107,632,000 after buying an additional 74,799 shares during the last quarter. HBK Investments L P purchased a new position in shares of Las Vegas Sands Corp. during the first quarter worth about $842,000. AMP Capital Investors Ltd boosted its position in shares of Las Vegas Sands Corp. by 38.6% in the first quarter. AMP Capital Investors Ltd now owns 187,685 shares of the casino operator’s stock worth $9,803,000 after buying an additional 52,227 shares during the last quarter. Finally, National Pension Service boosted its position in shares of Las Vegas Sands Corp. by 4.0% in the first quarter. National Pension Service now owns 252,905 shares of the casino operator’s stock worth $13,070,000 after buying an additional 9,843 shares during the last quarter. 38.96% of the stock is owned by institutional investors and hedge funds.
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.