Las Vegas Sands (NYSE:LVS) Shares Down 3.7% - Here's What Happened

Key Points

• Las Vegas Sands' shares fell by 3.7% to $51.28, with trading volume down 89% from the average, indicating significant market activity.
• Despite the decline, analysts maintain a positive outlook, with a consensus rating of "Moderate Buy" and an average target price of $60.20.
• The company reported strong quarterly earnings, with $0.79 earnings per share, exceeding expectations of $0.53 and a 15% year-over-year revenue increase.

Las Vegas Sands Corp. (NYSE:LVS - Get Free Report)'s share price fell 3.7% during trading on Thursday . The company traded as low as $51.22 and last traded at $51.28. 594,513 shares were traded during trading, a decline of 89% from the average session volume of 5,521,799 shares. The stock had previously closed at $53.27.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Susquehanna lowered their price objective on shares of Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Weiss Ratings reissued a "hold (c)" rating on shares of Las Vegas Sands in a research note on Wednesday. UBS Group boosted their price target on shares of Las Vegas Sands from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Thursday, August 28th. Citigroup restated a "buy" rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group decreased their price objective on Las Vegas Sands from $59.00 to $58.00 and set a "neutral" rating on the stock in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Las Vegas Sands currently has a consensus rating of "Moderate Buy" and an average target price of $60.20.

Las Vegas Sands Trading Down 2.7%

The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 6.53. The company's 50 day moving average price is $53.94 and its two-hundred day moving average price is $45.64. The firm has a market cap of $35.59 billion, a PE ratio of 26.19, a P/E/G ratio of 1.87 and a beta of 1.01.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.26. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same period in the prior year, the company posted $0.55 EPS. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Las Vegas Sands Corp. will post 2.6 EPS for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Las Vegas Sands's dividend payout ratio (DPR) is currently 50.51%.

Institutional Trading of Las Vegas Sands

Hedge funds and other institutional investors have recently bought and sold shares of the business. Total Investment Management Inc. purchased a new position in Las Vegas Sands in the 2nd quarter worth about $25,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of Las Vegas Sands by 37.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator's stock valued at $38,000 after acquiring an additional 239 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Las Vegas Sands during the 2nd quarter worth $41,000. CYBER HORNET ETFs LLC bought a new stake in Las Vegas Sands during the 2nd quarter valued at $42,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Las Vegas Sands in the 2nd quarter worth $43,000. Hedge funds and other institutional investors own 39.16% of the company's stock.

About Las Vegas Sands

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.

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