Las Vegas Sands (NYSE:LVS – Free Report) had its price target lifted by Morgan Stanley from $59.00 to $61.00 in a report published on Wednesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the casino operator’s stock.
LVS has been the topic of several other research reports. Susquehanna started coverage on shares of Las Vegas Sands in a research note on Friday, December 15th. They set a positive rating and a $59.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Las Vegas Sands from $69.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, October 19th. UBS Group lifted their price target on shares of Las Vegas Sands from $71.00 to $77.00 and gave the stock a buy rating in a research note on Thursday, November 16th. Finally, StockNews.com cut shares of Las Vegas Sands from a buy rating to a hold rating in a research note on Friday, December 8th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $68.82.
Las Vegas Sands Price Performance
Las Vegas Sands (NYSE:LVS – Get Free Report) last issued its earnings results on Wednesday, January 24th. The casino operator reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.04). Las Vegas Sands had a return on equity of 34.32% and a net margin of 11.77%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The company’s revenue for the quarter was up 161.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Las Vegas Sands will post 2.76 earnings per share for the current fiscal year.
Las Vegas Sands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th will be issued a $0.20 dividend. The ex-dividend date is Monday, February 5th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.52%. Las Vegas Sands’s dividend payout ratio (DPR) is presently 50.00%.
Las Vegas Sands declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 18th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the casino operator to purchase up to 5.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Insider Activity at Las Vegas Sands
In related news, major shareholder Miriam Adelson sold 12,253,628 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $43.23, for a total transaction of $529,724,338.44. Following the transaction, the insider now directly owns 41,134,164 shares in the company, valued at approximately $1,778,229,909.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.91% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Las Vegas Sands
Several large investors have recently added to or reduced their stakes in the stock. Spire Wealth Management lifted its position in shares of Las Vegas Sands by 197.4% in the 2nd quarter. Spire Wealth Management now owns 452 shares of the casino operator’s stock worth $26,000 after purchasing an additional 300 shares during the period. Coppell Advisory Solutions LLC purchased a new stake in shares of Las Vegas Sands in the 2nd quarter worth approximately $29,000. Capital Advisors Ltd. LLC lifted its position in shares of Las Vegas Sands by 434.7% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 524 shares of the casino operator’s stock worth $30,000 after purchasing an additional 426 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Las Vegas Sands by 95.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 546 shares of the casino operator’s stock worth $32,000 after purchasing an additional 266 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Las Vegas Sands in the 3rd quarter worth approximately $27,000. 39.16% of the stock is owned by hedge funds and other institutional investors.
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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