Everett Harris & Co. CA Buys 95,065 Shares of Las Vegas Sands Corp. $LVS

Key Points

• Everett Harris & Co. CA increased its Las Vegas Sands stake by 67.2% in the third quarter, buying 95,065 additional shares for a total of 236,596 shares valued at approximately $8.95 million.
• Las Vegas Sands reported weaker-than-expected quarterly results, with earnings of $0.54 per share versus the $0.68 consensus estimate and revenue of $3.22 billion versus $3.33 billion expected. Revenue declined 3.5% year over year.
• The company declared a quarterly dividend of $0.30, equivalent to an annualized $1.20 payout and a 3.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $53.28, above the reported share price of $37.05.

Everett Harris & Co. CA grew its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 67.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,596 shares of the casino operator's stock after buying an additional 95,065 shares during the quarter. Everett Harris & Co. CA's holdings in Las Vegas Sands were worth $8,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. BOKF NA grew its holdings in Las Vegas Sands by 37.1% during the third quarter. BOKF NA now owns 68,868 shares of the casino operator's stock valued at $2,604,000 after purchasing an additional 18,644 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Las Vegas Sands by 3.1% in the third quarter. Asset Management One Co. Ltd. now owns 127,044 shares of the casino operator's stock worth $4,804,000 after purchasing an additional 3,879 shares in the last quarter. Center for Financial Planning Inc. raised its position in shares of Las Vegas Sands by 24.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 1,788 shares of the casino operator's stock valued at $68,000 after purchasing an additional 348 shares during the period. Viewpoint Investment Partners Corp bought a new position in Las Vegas Sands in the 3rd quarter worth $382,000. Finally, U S Global Investors Inc. raised its holdings in Las Vegas Sands by 62.1% during the third quarter. U S Global Investors Inc. now owns 28,700 shares of the casino operator's stock valued at $1,085,000 after acquiring an additional 11,000 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $37.05 on Friday. The business's fifty day simple moving average is $40.12 and its 200-day simple moving average is $49.16. The company has a current ratio of 0.83, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. Las Vegas Sands Corp. has a 12-month low of $35.03 and a 12-month high of $70.45. The company has a market cap of $23.23 billion, a PE ratio of 12.53, a PEG ratio of 0.85 and a beta of 0.78.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The casino operator reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.14). The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.33 billion. Las Vegas Sands had a return on equity of 177.43% and a net margin of 11.85%. Las Vegas Sands's revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. Analysts expect that Las Vegas Sands Corp. will post 2.86 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Monday, November 2nd will be given a $0.30 dividend. The ex-dividend date is Monday, November 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 3.2%. Las Vegas Sands's dividend payout ratio is currently 49.18%.

Wall Street Analyst Weigh In

LVS has been the topic of several research reports. UBS Group set a $52.00 target price on Las Vegas Sands in a report on Thursday, July 2nd. Susquehanna set a $47.00 price objective on shares of Las Vegas Sands in a research note on Thursday, October 22nd. Bank of America reduced their price target on shares of Las Vegas Sands from $50.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, October 22nd. Barclays decreased their target price on Las Vegas Sands from $57.00 to $50.00 and set an "overweight" rating for the company in a research report on Thursday, October 22nd. Finally, Seaport Research Partners dropped 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 research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.28.

Las Vegas Sands Company Profile

Las Vegas Sands Corp. NYSE: LVS is a global developer and operator of integrated resorts, combining hotel accommodations, casinos, convention and exhibition facilities, restaurants, retail outlets, entertainment venues and other leisure amenities. The company serves both mass-market and premium customers through large-scale properties designed to support tourism and business travel.

Las Vegas Sands' principal operations are in Macau and Singapore. Its Macau portfolio includes properties such as The Venetian Macao, The Londoner Macao, The Parisian Macao, Sands Macao and The Plaza Macao.

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