Principal Financial Group Inc. Boosts Stake in Las Vegas Sands Corp. $LVS

Key Points

• Principal Financial Group increased its stake in Las Vegas Sands by 23.5% in the first quarter, adding 81,114 shares to reach 426,724 shares valued at about $23.0 million.
• Las Vegas Sands recently reported better-than-expected quarterly results, with EPS of $0.91 versus $0.76 expected and revenue of $3.58 billion versus $3.32 billion estimated.
• Wall Street remains cautiously positive: analysts assign a Moderate Buy consensus rating, though several firms have trimmed price targets; the average target now stands at $65.31.

Principal Financial Group Inc. increased its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 426,724 shares of the casino operator's stock after purchasing an additional 81,114 shares during the period. Principal Financial Group Inc. owned 0.06% of Las Vegas Sands worth $22,992,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust purchased a new stake in shares of Las Vegas Sands in the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new stake in shares of Las Vegas Sands during the 4th quarter valued at approximately $26,000. DV Equities LLC purchased a new stake in shares of Las Vegas Sands during the 4th quarter valued at approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Las Vegas Sands in the fourth quarter valued at approximately $29,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Las Vegas Sands by 254.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator's stock valued at $36,000 after acquiring an additional 400 shares during the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Price Performance

LVS stock opened at $45.80 on Tuesday. The business's 50-day moving average is $48.68 and its two-hundred day moving average is $53.68. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91. The firm has a market capitalization of $30.35 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.03 and a beta of 0.83. Las Vegas Sands Corp. has a 1 year low of $44.22 and a 1 year high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, topping the consensus estimate of $0.76 by $0.15. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.32 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The firm's revenue was up 25.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. Analysts anticipate that Las Vegas Sands Corp. will post 3.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Weiss Ratings cut Las Vegas Sands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Barclays decreased their price target on Las Vegas Sands from $65.00 to $63.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. Citigroup lowered their price target on Las Vegas Sands from $78.50 to $73.00 and set a "buy" rating for the company in a report on Friday, July 10th. The Goldman Sachs Group cut their price objective on Las Vegas Sands from $73.00 to $63.00 and set a "buy" rating for the company in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands from $72.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.31.

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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