Las Vegas Sands (NYSE:LVS) Hits New 1-Year Low – Here’s Why
by Danessa Lincoln · The Markets DailyLas Vegas Sands Corp. (NYSE:LVS – Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $41.99 and last traded at $42.1590, with a volume of 141038 shares changing hands. The stock had previously closed at $42.40.
Wall Street Analyst Weigh In
LVS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $62.00 price target (down from $73.00) on shares of Las Vegas Sands in a report on Thursday, July 23rd. Argus cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. UBS Group set a $52.00 price objective on Las Vegas Sands in a research note on Thursday, July 2nd. HSBC reduced their target price on shares of Las Vegas Sands from $78.00 to $68.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, Citigroup lowered their price target on shares of Las Vegas Sands from $73.00 to $71.50 and set a “buy” rating on the stock in a report on Thursday, July 23rd. Ten investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.84.
Las Vegas Sands Price Performance
The stock has a 50 day moving average of $45.70 and a 200-day moving average of $49.93. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. The stock has a market capitalization of $27.38 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83.
Las Vegas Sands (NYSE:LVS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the company earned $0.66 EPS. The business’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.
Las Vegas Sands Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th were issued a $0.30 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Las Vegas Sands’s dividend payout ratio is presently 46.69%.
Institutional Investors Weigh In On Las Vegas Sands
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Las Vegas Sands in the fourth quarter valued at approximately $26,000. Hantz Financial Services Inc. raised its position in Las Vegas Sands by 94.2% during the 4th quarter. Hantz Financial Services Inc. now owns 765 shares of the casino operator’s stock worth $50,000 after buying an additional 371 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Las Vegas Sands by 73.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 886 shares of the casino operator’s stock valued at $48,000 after buying an additional 375 shares during the last quarter. Covestor Ltd boosted its stake in shares of Las Vegas Sands by 187.3% in the fourth quarter. Covestor Ltd now owns 971 shares of the casino operator’s stock worth $63,000 after buying an additional 633 shares during the last quarter. Finally, Leonteq Securities AG purchased a new stake in shares of Las Vegas Sands in the fourth quarter worth about $89,000. Institutional investors own 39.16% of the company’s stock.
About Las Vegas Sands
Las Vegas Sands Corp. (NYSE: LVS) develops and operates integrated resorts that combine casino gaming with hotels, convention and meeting facilities, dining, retail, entertainment and other leisure offerings. The company primarily serves international tourism, business travel and premium gaming markets.
Las Vegas Sands’ principal properties are Marina Bay Sands in Singapore and a portfolio of integrated resorts in Macao, including The Venetian Macao, The Londoner Macao, The Parisian Macao and Four Seasons Hotel Macao.