Brookstone Capital Management acquired a new position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 203,701 shares of the casino operator's stock, valued at approximately $7,869,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LVS. Optiver Holding B.V. purchased a new stake in shares of Las Vegas Sands during the 4th quarter worth about $32,000. Brown Brothers Harriman & Co. bought a new position in Las Vegas Sands during the fourth quarter valued at about $36,000. Center for Financial Planning Inc. bought a new position in Las Vegas Sands during the first quarter valued at about $42,000. Smartleaf Asset Management LLC raised its holdings in Las Vegas Sands by 63.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 885 shares of the casino operator's stock valued at $45,000 after buying an additional 342 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Las Vegas Sands during the fourth quarter valued at about $56,000. 39.16% of the stock is owned by hedge funds and other institutional investors.
Las Vegas Sands Price Performance
NYSE:LVS traded up $0.14 during trading hours on Monday, reaching $48.36. The company had a trading volume of 5,285,191 shares, compared to its average volume of 5,878,610. The stock has a 50-day moving average of $41.70 and a two-hundred day moving average of $42.16. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.58. Las Vegas Sands Corp. has a one year low of $30.18 and a one year high of $56.61. The firm has a market capitalization of $34.17 billion, a PE ratio of 26.87, a PEG ratio of 1.70 and a beta of 1.03.
Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The casino operator reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.95 billion. Las Vegas Sands had a return on equity of 44.91% and a net margin of 11.64%. The firm's revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.
Las Vegas Sands announced that its board has approved a stock buyback plan on Wednesday, April 23rd that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the casino operator to repurchase up to 8.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Las Vegas Sands Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Tuesday, May 6th. Las Vegas Sands's dividend payout ratio is currently 55.56%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. Hsbc Global Res raised shares of Las Vegas Sands to a "strong-buy" rating in a research report on Thursday, April 24th. Morgan Stanley dropped their target price on shares of Las Vegas Sands from $47.00 to $45.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Macquarie dropped their target price on shares of Las Vegas Sands from $58.00 to $52.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. assumed coverage on Las Vegas Sands in a research note on Monday, June 23rd. They issued a "neutral" rating and a $47.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Las Vegas Sands in a research report on Monday. They issued a "neutral" rating and a $52.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.31.
Read Our Latest Analysis on Las Vegas Sands
Las Vegas Sands Profile
(
Free Report)
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.
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