Invesco Ltd. Increases Stock Holdings in Las Vegas Sands Corp. (NYSE:LVS)

Key Points

• Invesco Ltd. has increased its stake in Las Vegas Sands Corp. by 9.1%, owning approximately 1.34% of the company valued at $364.8 million, according to recent SEC filings.
• Las Vegas Sands reported earnings of $0.79 per share for the last quarter, exceeding analysts' expectations of $0.53, with revenues reaching $3.18 billion, up 15% year-over-year.
• The company has announced a quarterly dividend of $0.25, translating to an annualized yield of 1.9% and has initiated a stock repurchase plan authorizing up to $2 billion in share buybacks.

Invesco Ltd. boosted its stake in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,442,798 shares of the casino operator's stock after purchasing an additional 790,952 shares during the period. Invesco Ltd. owned approximately 1.34% of Las Vegas Sands worth $364,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Achmea Investment Management B.V. lifted its stake in Las Vegas Sands by 55.4% during the 1st quarter. Achmea Investment Management B.V. now owns 31,411 shares of the casino operator's stock valued at $1,213,000 after acquiring an additional 11,197 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Las Vegas Sands by 18.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,005 shares of the casino operator's stock valued at $1,489,000 after acquiring an additional 6,057 shares during the period. Northern Trust Corp lifted its stake in Las Vegas Sands by 12.4% during the 4th quarter. Northern Trust Corp now owns 3,088,597 shares of the casino operator's stock valued at $158,630,000 after acquiring an additional 339,992 shares during the period. Everett Harris & Co. CA acquired a new stake in Las Vegas Sands during the 1st quarter valued at approximately $657,000. Finally, Asset Management One Co. Ltd. lifted its stake in Las Vegas Sands by 8.9% during the 1st quarter. Asset Management One Co. Ltd. now owns 150,120 shares of the casino operator's stock valued at $5,799,000 after acquiring an additional 12,251 shares during the period. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Price Performance

Shares of Las Vegas Sands stock traded down $0.44 during trading hours on Friday, reaching $53.68. 3,487,695 shares of the company's stock were exchanged, compared to its average volume of 5,070,876. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 year high of $56.60. The company has a market capitalization of $36.85 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 2.05 and a beta of 1.08. The business has a fifty day moving average of $48.11 and a two-hundred day moving average of $42.95. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 6.53.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.26. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, research analysts predict that Las Vegas Sands Corp. will post 2.6 earnings per share for the current fiscal year.

Las Vegas Sands announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 23rd that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the casino operator to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. Las Vegas Sands's dividend payout ratio is currently 50.51%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Susquehanna decreased their price objective on shares of Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Barclays boosted their target price on shares of Las Vegas Sands from $57.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Mizuho boosted their target price on shares of Las Vegas Sands from $47.00 to $56.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Argus upgraded 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 research note on Monday, July 28th. Finally, Morgan Stanley boosted their target price on shares of Las Vegas Sands from $47.00 to $50.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Las Vegas Sands presently has a consensus rating of "Moderate Buy" and an average price target of $58.33.

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.