Las Vegas Sands (NYSE:LVS) Issues Earnings Results

Key Points

• Las Vegas Sands reported quarterly EPS of $0.59, falling short of the consensus estimate of $0.76 by $0.17.
• The company also posted revenue of $3.15 billion, below analysts’ expectations of $3.31 billion.
• Shares traded down 0.5% after the report, while analysts still largely remain positive with a Moderate Buy consensus and an average price target of $65.38.

Las Vegas Sands (NYSE:LVS - Get Free Report) issued its quarterly earnings data on Wednesday. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.17), FiscalAI reports. The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.31 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.

Las Vegas Sands Trading Down 0.5%

NYSE LVS traded down $0.21 on Wednesday, hitting $45.26. 7,010,480 shares of the stock were exchanged, compared to its average volume of 4,840,090. The company has a debt-to-equity ratio of 8.64, a quick ratio of 0.91 and a current ratio of 0.92. The stock has a fifty day moving average price of $48.55 and a two-hundred day moving average price of $53.54. The firm has a market capitalization of $29.99 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.04 and a beta of 0.83. Las Vegas Sands has a 52-week low of $44.22 and a 52-week high of $70.45.

Institutional Investors Weigh In On Las Vegas Sands

Several institutional investors have recently made changes to their positions in LVS. AQR Capital Management LLC boosted its stake in shares of Las Vegas Sands by 222.7% during the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator's stock worth $592,223,000 after purchasing an additional 6,279,390 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Las Vegas Sands by 410.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator's stock worth $277,963,000 after purchasing an additional 4,154,753 shares during the last quarter. Morgan Stanley lifted its stake in Las Vegas Sands by 9.3% in the fourth quarter. Morgan Stanley now owns 3,322,350 shares of the casino operator's stock worth $216,252,000 after purchasing an additional 283,907 shares during the last quarter. Northern Trust Corp boosted its position in shares of Las Vegas Sands by 2.1% during the fourth quarter. Northern Trust Corp now owns 2,527,177 shares of the casino operator's stock valued at $164,494,000 after buying an additional 51,068 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Las Vegas Sands by 0.9% during the third quarter. Legal & General Group Plc now owns 1,822,120 shares of the casino operator's stock valued at $98,012,000 after buying an additional 16,674 shares during the period. Institutional investors own 39.16% of the company's stock.

Analyst Ratings Changes

LVS has been the topic of a number of recent research reports. The Goldman Sachs Group decreased their price target on shares of Las Vegas Sands from $73.00 to $63.00 and set a "buy" rating on the stock in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Las Vegas Sands from $77.00 to $73.00 and set a "buy" rating for the company in a research note on Thursday, April 23rd. UBS Group set a $52.00 target price on shares of Las Vegas Sands in a report on Thursday, July 2nd. JPMorgan Chase & Co. decreased their target price on shares of Las Vegas Sands from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Finally, HSBC increased their price target on shares of Las Vegas Sands from $73.00 to $78.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Las Vegas Sands currently has a consensus rating of "Moderate Buy" and an average target price of $65.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.