Las Vegas Sands Corp. (NYSE:LVS - Get Free Report)'s stock price gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $48.69, but opened at $51.27. Las Vegas Sands shares last traded at $50.14, with a volume of 6,757,682 shares changing hands.
The casino operator reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.26. Las Vegas Sands had a net margin of 11.64% and a return on equity of 44.91%. 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 business earned $0.55 EPS. The firm's quarterly revenue was up 15.0% on a year-over-year basis.
Las Vegas Sands announced that its board has initiated a stock repurchase plan on Wednesday, April 23rd that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the casino operator to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of analysts have commented on LVS shares. The Goldman Sachs Group initiated coverage on shares of Las Vegas Sands in a research note on Monday, July 7th. They set a "neutral" rating and a $52.00 price objective for the company. Hsbc Global Res raised shares of Las Vegas Sands to a "strong-buy" rating in a research report on Thursday, April 24th. Macquarie cut their price objective on shares of Las Vegas Sands from $58.00 to $52.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley increased their price target on Las Vegas Sands from $45.00 to $47.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Finally, Citigroup reiterated a "buy" rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.43.
View Our Latest Stock Report on Las Vegas Sands
Institutional Investors Weigh In On Las Vegas Sands
Several institutional investors have recently bought and sold shares of LVS. Envestnet Portfolio Solutions Inc. boosted its holdings in Las Vegas Sands by 10.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,023 shares of the casino operator's stock valued at $258,000 after acquiring an additional 474 shares during the period. Mizuho Securities USA LLC boosted its holdings in Las Vegas Sands by 43.9% during the 4th quarter. Mizuho Securities USA LLC now owns 32,984 shares of the casino operator's stock valued at $1,694,000 after acquiring an additional 10,063 shares during the period. American Century Companies Inc. lifted its holdings in Las Vegas Sands by 36.5% in the 4th quarter. American Century Companies Inc. now owns 335,010 shares of the casino operator's stock worth $17,206,000 after buying an additional 89,508 shares during the period. LPL Financial LLC lifted its holdings in Las Vegas Sands by 28.8% in the 4th quarter. LPL Financial LLC now owns 223,371 shares of the casino operator's stock worth $11,472,000 after buying an additional 49,982 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Las Vegas Sands by 11.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,663 shares of the casino operator's stock worth $29,025,000 after buying an additional 59,675 shares during the period. 39.16% of the stock is currently owned by hedge funds and other institutional investors.
Las Vegas Sands Trading Up 3.7%
The firm has a market cap of $35.68 billion, a PE ratio of 28.04, a PEG ratio of 2.44 and a beta of 1.03. The firm has a fifty day simple moving average of $44.10 and a two-hundred day simple moving average of $42.12. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.58.
Las Vegas Sands Company Profile
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Las Vegas Sands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Las Vegas Sands wasn't on the list.
While Las Vegas Sands currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
