Canada Pension Plan Investment Board Invests $67.07 Million in Las Vegas Sands Corp. $LVS

Key Points

• Canada Pension Plan Investment Board purchased 1.45 million Las Vegas Sands shares worth approximately $67.1 million, representing about 0.22% of the company; institutional investors own 39.16% of the stock.
• Analysts have lowered their price targets, with ratings ranging from buy to sell. The consensus rating is “Hold”, with an average price target of $61.88.
• Las Vegas Sands reported quarterly EPS of $0.59, missing the $0.76 consensus estimate, while revenue fell 0.7% year over year to $3.15 billion. Shares opened at $44.12, and the company maintains a quarterly dividend of $0.30, yielding about 2.7%.

Canada Pension Plan Investment Board purchased a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,452,001 shares of the casino operator's stock, valued at approximately $67,068,000. Canada Pension Plan Investment Board owned approximately 0.22% of Las Vegas Sands at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in LVS. AQR Capital Management LLC grew its holdings in Las Vegas Sands by 222.7% during the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator's stock worth $592,223,000 after acquiring an additional 6,279,390 shares in the last quarter. Norges Bank acquired a new position in Las Vegas Sands in the fourth quarter worth about $364,892,000. Arrowstreet Capital Limited Partnership grew its stake in Las Vegas Sands by 410.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator's stock worth $277,963,000 after purchasing an additional 4,154,753 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Las Vegas Sands in the second quarter valued at about $107,407,000. Finally, Legal & General Group Plc acquired a new stake in Las Vegas Sands during the second quarter valued at approximately $83,696,000. 39.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LVS has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their target price on Las Vegas Sands from $63.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Morgan Stanley decreased their price objective on shares of Las Vegas Sands from $68.00 to $61.00 and set an "equal weight" rating for the company in a report on Monday, July 27th. Bank of America lowered their target price on shares of Las Vegas Sands from $70.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. Barclays dropped their target price on shares of Las Vegas Sands from $63.00 to $59.00 and set an "overweight" rating on the stock in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Las Vegas Sands in a research report on Friday, August 21st. Ten analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.88.

Las Vegas Sands Stock Down 4.6%

Shares of Las Vegas Sands stock opened at $44.12 on Friday. The stock has a market capitalization of $28.57 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.14 and a beta of 0.85. Las Vegas Sands Corp. has a twelve month low of $43.92 and a twelve month high of $70.45. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The business's 50 day simple moving average is $46.48 and its 200-day simple moving average is $51.06.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. The company's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts forecast that Las Vegas Sands Corp. will post 3.09 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, August 4th. Las Vegas Sands's dividend payout ratio (DPR) is presently 46.69%.

Las Vegas Sands Company Profile

Las Vegas Sands NYSE: LVS is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company's operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company's portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.

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