VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Las Vegas Sands Corp. $LVS

Key Points

• Virginia Retirement Systems purchased 384,600 shares of Las Vegas Sands worth approximately $17.8 million, while other institutional investors also increased their positions. Institutions collectively own 39.16% of LVS.
• Las Vegas Sands reported quarterly EPS of $0.59 and revenue of $3.15 billion, missing analyst estimates of $0.76 EPS and $3.31 billion revenue. Revenue declined 0.7% year over year.
• LVS pays a quarterly dividend of $0.30 per share, equivalent to a 2.7% yield. Analysts have a consensus “Hold” rating and an average price target of $61.88, despite several recent target reductions.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Las Vegas Sands Corp. (NYSE:LVS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 384,600 shares of the casino operator's stock, valued at approximately $17,765,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.06% of Las Vegas Sands as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LVS. Swiss Life Asset Management Ltd grew its holdings in Las Vegas Sands by 116.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 148,196 shares of the casino operator's stock valued at $9,646,000 after purchasing an additional 79,641 shares during the period. Crossmark Global Holdings Inc. grew its stake in Las Vegas Sands by 411.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 44,208 shares of the casino operator's stock valued at $2,877,000 after buying an additional 35,566 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Las Vegas Sands by 74.2% during the 1st quarter. SG Americas Securities LLC now owns 1,529,236 shares of the casino operator's stock valued at $82,395,000 after purchasing an additional 651,214 shares during the period. Fieldview Capital Management LLC bought a new stake in shares of Las Vegas Sands during the 4th quarter valued at $4,561,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Las Vegas Sands during the 2nd quarter worth about $107,407,000. Hedge funds and other institutional investors own 39.16% of the company's stock.

Las Vegas Sands Trading Up 0.1%

LVS stock opened at $44.42 on Tuesday. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99. Las Vegas Sands Corp. has a 1-year low of $43.36 and a 1-year high of $70.45. The business has a 50 day simple moving average of $46.06 and a two-hundred day simple moving average of $50.43. The company has a market capitalization of $28.77 billion, a price-to-earnings ratio of 17.28, a PEG ratio of 1.09 and a beta of 0.83.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). The business had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. Las Vegas Sands's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 EPS. Research analysts anticipate that Las Vegas Sands Corp. will post 3.09 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.7%. Las Vegas Sands's dividend payout ratio is 46.69%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LVS shares. Argus cut Las Vegas Sands from a "buy" rating to a "hold" rating in a research report on Thursday, July 30th. The Goldman Sachs Group cut their price objective on shares of Las Vegas Sands from $63.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Bank of America dropped their price objective on Las Vegas Sands from $70.00 to $60.00 and set a "neutral" rating for the company in a research note on Monday, July 20th. Wall Street Zen cut Las Vegas Sands from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Finally, Stifel Nicolaus cut their price objective on Las Vegas Sands from $74.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Las Vegas Sands currently has a consensus rating of "Hold" and a consensus target price of $61.88.

About Las Vegas Sands

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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