Royal Bank of Canada Sells 194,337 Shares of Las Vegas Sands Corp. $LVS

Key Points

• Royal Bank of Canada reduced its holdings in Las Vegas Sands Corp. by 35.2%, selling 194,337 shares, and now owns 357,575 shares valued at approximately $13.8 million.
• Las Vegas Sands recently reported $0.79 earnings per share, exceeding analysts' expectations of $0.53, alongside a 15% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.25, representing a yield of 1.8%, and currently has a dividend payout ratio of 50.51%.

Royal Bank of Canada reduced its position in shares of Las Vegas Sands Corp. (NYSE:LVS - Free Report) by 35.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,575 shares of the casino operator's stock after selling 194,337 shares during the period. Royal Bank of Canada owned approximately 0.05% of Las Vegas Sands worth $13,813,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. purchased a new position in Las Vegas Sands during the first quarter worth about $42,000. Farther Finance Advisors LLC grew its holdings in shares of Las Vegas Sands by 133.1% during the first quarter. Farther Finance Advisors LLC now owns 1,499 shares of the casino operator's stock worth $59,000 after purchasing an additional 856 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Las Vegas Sands in the first quarter worth approximately $127,000. Golden State Wealth Management LLC increased its position in shares of Las Vegas Sands by 103.2% in the first quarter. Golden State Wealth Management LLC now owns 3,587 shares of the casino operator's stock worth $139,000 after purchasing an additional 1,822 shares during the last quarter. Finally, AlphaQuest LLC purchased a new stake in Las Vegas Sands in the first quarter valued at approximately $153,000. Institutional investors own 39.16% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LVS shares. Bank of America increased their price target on shares of Las Vegas Sands from $52.50 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Susquehanna lowered their price target on Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Barclays upped their price objective on Las Vegas Sands from $57.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. raised their price objective on Las Vegas Sands from $47.00 to $56.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. 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 data from MarketBeat, Las Vegas Sands presently has an average rating of "Moderate Buy" and a consensus target price of $59.47.

Las Vegas Sands Trading Down 2.3%

Shares of NYSE LVS traded down $1.21 during midday trading on Tuesday, reaching $51.88. The company had a trading volume of 6,442,331 shares, compared to its average volume of 4,449,423. The stock has a market cap of $35.61 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.93 and a beta of 1.04. Las Vegas Sands Corp. has a one year low of $30.18 and a one year high of $58.05. The firm's fifty day moving average price is $52.94 and its 200-day moving average price is $44.63. 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 announced its quarterly earnings results on Wednesday, July 23rd. The casino operator reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.26. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%.The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same period in the previous year, the firm earned $0.55 EPS. The business's quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 2.6 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

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