Gateway Investment Advisers LLC purchased a new stake in Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 69,079 shares of the casino operator's stock, valued at approximately $2,669,000.
A number of other institutional investors have also modified their holdings of LVS. Bank of Jackson Hole Trust bought a new stake in shares of Las Vegas Sands in the 4th quarter valued at about $26,000. Optiver Holding B.V. bought a new stake in shares of Las Vegas Sands in the 4th quarter valued at about $32,000. Brown Brothers Harriman & Co. bought a new stake in shares of Las Vegas Sands in the 4th quarter valued at about $36,000. Wilmington Savings Fund Society FSB boosted its holdings in shares of Las Vegas Sands by 45.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 760 shares of the casino operator's stock valued at $39,000 after buying an additional 238 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Las Vegas Sands by 63.0% in the 4th 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. 39.16% of the stock is currently owned by institutional investors.
Las Vegas Sands Price Performance
NYSE LVS traded down $0.67 on Wednesday, hitting $41.82. The company had a trading volume of 2,983,105 shares, compared to its average volume of 6,065,135. The company has a market capitalization of $29.55 billion, a PE ratio of 21.23, a PEG ratio of 1.41 and a beta of 1.03. The company's fifty day moving average price is $37.82 and its 200-day moving average price is $43.46. The company has a debt-to-equity ratio of 3.35, a current ratio of 0.74 and a quick ratio of 0.73. Las Vegas Sands Corp. has a 12-month low of $30.18 and a 12-month high of $56.61.
Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Las Vegas Sands had a return on equity of 45.82% and a net margin of 12.80%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the firm earned $0.78 EPS. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Tuesday, May 6th were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, May 6th. This represents a $1.00 annualized dividend and a yield of 2.39%. Las Vegas Sands's dividend payout ratio (DPR) is presently 55.56%.
Las Vegas Sands declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 23rd that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the casino operator to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its stock is undervalued.
Analysts Set New Price Targets
Several brokerages recently commented on LVS. Mizuho set a $47.00 price objective on shares of Las Vegas Sands in a research report on Thursday, April 24th. Stifel Nicolaus set a $57.00 price objective on shares of Las Vegas Sands and gave the company a "buy" rating in a research report on Thursday, April 24th. Macquarie decreased their price objective on shares of Las Vegas Sands from $58.00 to $52.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Morgan Stanley decreased their price objective on shares of Las Vegas Sands from $47.00 to $45.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Finally, Barclays cut their target price on shares of Las Vegas Sands from $58.00 to $53.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Las Vegas Sands has an average rating of "Moderate Buy" and a consensus price target of $56.75.
View Our Latest Report 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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