Las Vegas Sands (NYSE:LVS) Posts Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• EPS beat: Las Vegas Sands reported Q‑results of $0.91 EPS versus $0.76 consensus (a $0.15 beat), with a net margin of 12.5% and return on equity of 91.4%.
• Shares slipped despite beat: Stock fell about 1.3% to $56.81 on the day; the company has a market cap of $37.7B, a P/E of ~24.3 and a 52‑week range of $34.33–$70.45.
• Dividend raised and insider sale: Quarterly dividend was increased to $0.30 ($1.20 annual, 2.1% yield; DPR 51.3%), while CEO Patrick Dumont sold 60,165 shares at roughly $54.75, reducing his stake by about 10.5%.

Las Vegas Sands (NYSE:LVS - Get Free Report) released its quarterly earnings data on Wednesday. The casino operator reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.15, FiscalAI reports. Las Vegas Sands had a net margin of 12.50% and a return on equity of 91.40%.

Las Vegas Sands Stock Down 1.3%

Shares of Las Vegas Sands stock traded down $0.73 during trading hours on Wednesday, reaching $56.81. 4,021,493 shares of the company's stock were exchanged, compared to its average volume of 4,967,274. The company has a 50 day moving average of $55.15 and a two-hundred day moving average of $58.98. Las Vegas Sands has a fifty-two week low of $34.33 and a fifty-two week high of $70.45. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58. The stock has a market cap of $37.70 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.44 and a beta of 0.89.

Las Vegas Sands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Monday, February 9th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, February 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Las Vegas Sands's previous quarterly dividend of $0.25. Las Vegas Sands's dividend payout ratio (DPR) is currently 51.28%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Macquarie Infrastructure reiterated an "outperform" rating and set a $70.00 target price on shares of Las Vegas Sands in a report on Thursday, January 29th. Barclays set a $64.00 target price on Las Vegas Sands in a report on Thursday, January 29th. Mizuho increased their target price on Las Vegas Sands from $63.00 to $65.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. Argus lowered their target price on Las Vegas Sands from $80.00 to $60.00 and set a "buy" rating for the company in a report on Friday, January 30th. Finally, Seaport Research Partners lowered their target price on Las Vegas Sands from $72.00 to $69.00 and set a "buy" rating for the company in a report on Tuesday. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.84.

Insider Activity at Las Vegas Sands

In other news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the completion of the transaction, the chief executive officer directly owned 511,942 shares in the company, valued at $28,028,824.50. This represents a 10.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Las Vegas Sands

A number of large investors have recently modified their holdings of the business. 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 buying an additional 6,279,390 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Las Vegas Sands by 410.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator's stock valued at $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 4th quarter. Morgan Stanley now owns 3,322,350 shares of the casino operator's stock valued at $216,252,000 after purchasing an additional 283,907 shares during the last quarter. Northern Trust Corp lifted its stake in Las Vegas Sands by 2.1% in the 4th quarter. Northern Trust Corp now owns 2,527,177 shares of the casino operator's stock valued at $164,494,000 after purchasing an additional 51,068 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Las Vegas Sands by 0.9% in the 3rd quarter. Legal & General Group Plc now owns 1,822,120 shares of the casino operator's stock valued at $98,012,000 after purchasing an additional 16,674 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

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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