Zacks Investment Research upgraded shares of Las Vegas Sands (NYSE:LVS) from a hold rating to a buy rating in a report issued on Wednesday, Zacks.com reports. They currently have $72.00 price target on the casino operator’s stock.
According to Zacks, “Shares of Las Vegas Sands have outperformed the industry so far this year. Increased revenues at casino, rooms and mall drove the company’s top line in first-quarter 2019. It generated solid revenues from Macao operations as well. In the next couple of years, the company is likely to spend $2 billion in Macao. To strengthen the resort portfolio, Las Vegas Sands is focusing on expanding the Four Seasons Tower Suites Macao, St. Regis Tower Suites Macao and the Londoner Macao. Planned investment in new capital projects in Macao and higher revenues from The Parisian Macao are also likely to drive growth. Las Vegas Sands’ consistent focus on a convention-based Integrated Resort business model is an added positive. Nevertheless, high debt and competition are worrisome. Estimates for the current year have witnessed upward revisions in the past 30 days.”
Several other brokerages have also recently issued reports on LVS. Deutsche Bank upped their price objective on Las Vegas Sands from $60.00 to $69.00 and gave the stock a hold rating in a report on Thursday, April 18th. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their target price on Las Vegas Sands from $62.00 to $71.00 and gave the company a neutral rating in a research report on Thursday, April 18th. Jefferies Financial Group boosted their target price on Las Vegas Sands from $57.00 to $69.00 and gave the company a hold rating in a research report on Monday, April 8th. Bank of America reissued a neutral rating and set a $70.00 target price (up previously from $64.00) on shares of Las Vegas Sands in a research report on Wednesday, April 17th. Finally, Stifel Nicolaus boosted their target price on Las Vegas Sands from $72.00 to $80.00 and gave the company a buy rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Las Vegas Sands currently has a consensus rating of Hold and a consensus target price of $68.75.
NYSE LVS traded down $0.24 during trading hours on Wednesday, reaching $65.08. The company’s stock had a trading volume of 76,056 shares, compared to its average volume of 3,680,962. The company has a current ratio of 1.73, a quick ratio of 1.72 and a debt-to-equity ratio of 1.85. Las Vegas Sands has a 1 year low of $47.39 and a 1 year high of $81.45. The stock has a market cap of $49.81 billion, a PE ratio of 19.54 and a beta of 1.43.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. Las Vegas Sands had a return on equity of 34.52% and a net margin of 11.15%. The company had revenue of $3.65 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm earned $1.04 EPS. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts forecast that Las Vegas Sands will post 3.35 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 19th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 4.73%. The ex-dividend date is Tuesday, June 18th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 92.77%.
A number of institutional investors have recently made changes to their positions in the business. First Interstate Bank grew its holdings in Las Vegas Sands by 70.8% during the first quarter. First Interstate Bank now owns 410 shares of the casino operator’s stock worth $25,000 after acquiring an additional 170 shares during the period. Private Capital Group LLC lifted its position in Las Vegas Sands by 55.7% during the first quarter. Private Capital Group LLC now owns 467 shares of the casino operator’s stock worth $28,000 after buying an additional 167 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in Las Vegas Sands by 99.6% during the fourth quarter. Cornerstone Advisors Inc. now owns 487 shares of the casino operator’s stock worth $25,000 after buying an additional 243 shares in the last quarter. Bartlett & Co. LLC purchased a new position in Las Vegas Sands during the fourth quarter worth approximately $26,000. Finally, Berman Capital Advisors LLC lifted its position in Las Vegas Sands by 88.1% during the first quarter. Berman Capital Advisors LLC now owns 585 shares of the casino operator’s stock worth $35,000 after buying an additional 274 shares in the last quarter. 36.81% of the stock is currently owned by institutional investors.
Las Vegas Sands Company Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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