Credit Agricole S A Lowers Stock Position in Las Vegas Sands Corp. $LVS

Key Points

• Credit Agricole S A significantly reduced its stake in Las Vegas Sands Corp. by 77.6%, selling 75,692 shares and now holding 21,814 shares worth approximately $843,000.
• A variety of institutional investors adjusted their positions in Las Vegas Sands, with Banco Bilbao Vizcaya Argentaria S.A. increasing its stake by 29.0% and American Century Companies Inc. raising theirs by 69.3%.
• Las Vegas Sands reported $0.79 earnings per share, surpassing analysts’ expectations of $0.53, with a revenue of $3.18 billion for the quarter, reflecting a 15.0% increase year-over-year.

Credit Agricole S A lessened its stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 77.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,814 shares of the casino operator's stock after selling 75,692 shares during the quarter. Credit Agricole S A's holdings in Las Vegas Sands were worth $843,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Optiver Holding B.V. purchased a new stake in shares of Las Vegas Sands during the fourth quarter worth about $32,000. Center for Financial Planning Inc. purchased a new stake in shares of Las Vegas Sands during the first quarter worth about $42,000. Farther Finance Advisors LLC increased its stake in Las Vegas Sands by 133.1% during the 1st quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock worth $59,000 after buying an additional 856 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Las Vegas Sands during the 1st quarter worth approximately $127,000. Finally, Golden State Wealth Management LLC increased its stake in Las Vegas Sands by 103.2% during the 1st quarter. Golden State Wealth Management LLC now owns 3,587 shares of the casino operator's stock worth $139,000 after buying an additional 1,822 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company's stock.

Analyst Upgrades and Downgrades

LVS has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Las Vegas Sands in a research note on Monday, July 7th. They set a "neutral" rating and a $52.00 price objective for the company. Morgan Stanley boosted their price target on Las Vegas Sands from $47.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Mizuho upped their target price on shares of Las Vegas Sands from $47.00 to $56.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Argus raised shares of Las Vegas Sands from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a report on Monday, July 28th. Finally, Susquehanna dropped their target price on shares of Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating for the company in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.00.

Las Vegas Sands Trading Up 1.8%

Shares of Las Vegas Sands stock traded up $1.00 during mid-day trading on Thursday, hitting $57.70. The stock had a trading volume of 3,126,381 shares, compared to its average volume of 3,938,343. The firm has a 50-day moving average of $50.49 and a two-hundred day moving average of $43.62. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $57.74. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 6.53. The firm has a market cap of $39.61 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.08.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.26. The business had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $2.83 billion. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The business's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.55 EPS. Sell-side analysts forecast that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, August 5th. Las Vegas Sands's dividend payout ratio is presently 50.51%.

Las Vegas Sands Company Profile

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.