Las Vegas Sands (NYSE:LVS) Shares Gap Up After Earnings Beat

Key Points

• Las Vegas Sands reported earnings of $0.78 per share for the quarter, exceeding analysts' expectations of $0.62, with revenue reaching $3.33 billion, a 24.2% increase year-over-year.
• The company announced a quarterly dividend of $0.25, set to be paid on November 12th, representing an annualized yield of 1.8%.
• Analyst ratings are generally positive, with a consensus rating of "Moderate Buy" and a target price averaging $62.27, despite some firms adjusting their price targets slightly lower.

Las Vegas Sands Corp. (NYSE:LVS - Get Free Report)'s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $50.62, but opened at $54.56. Las Vegas Sands shares last traded at $56.74, with a volume of 2,228,349 shares changing hands.

The casino operator reported $0.78 EPS for the quarter, beating the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The company had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. Las Vegas Sands's revenue for the quarter was up 24.2% on a year-over-year basis.

Las Vegas Sands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 12th. Shareholders of record on Tuesday, November 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, November 4th. Las Vegas Sands's dividend payout ratio is 50.51%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LVS shares. The Goldman Sachs Group lowered their price objective on shares of Las Vegas Sands from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 1st. Stifel Nicolaus raised their target price on shares of Las Vegas Sands from $60.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday. Argus lifted their price objective on shares of Las Vegas Sands from $60.00 to $65.00 in a research note on Tuesday, September 23rd. Mizuho lifted their price target on shares of Las Vegas Sands from $56.00 to $63.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Macquarie lifted their price objective on shares of Las Vegas Sands from $52.00 to $58.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Las Vegas Sands has a consensus rating of "Moderate Buy" and a consensus target price of $62.27.

Hedge Funds Weigh In On Las Vegas Sands

Large investors have recently added to or reduced their stakes in the stock. Total Investment Management Inc. acquired a new position in Las Vegas Sands during the second quarter worth $25,000. MassMutual Private Wealth & Trust FSB grew its holdings 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 worth $38,000 after buying an additional 239 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Las Vegas Sands in the second quarter valued at about $41,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Las Vegas Sands in the second quarter valued at about $42,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Las Vegas Sands in the second quarter valued at about $43,000. 39.16% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Price Performance

The company has a debt-to-equity ratio of 6.53, a current ratio of 1.22 and a quick ratio of 1.21. The stock has a market cap of $39.14 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 1.82 and a beta of 1.01. The stock's fifty day moving average is $53.23 and its 200-day moving average is $46.37.

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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