Zacks Investment Research cut shares of Las Vegas Sands Corp. (NYSE:LVS) from a buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “Las Vegas Sands’ Q3 adjusted earnings of 77 cents surpassed the Zacks Consensus Estimate by 14.9% and rose 8.5% year over year on higher revenues. Quarterly revenues of $3.2 billion also topped the consensus mark by nearly 3% and jumped 7.7% year over year given robust results at Parsian Macao and Marina Bay Sands. The company is positive on the prospects of The Parisian Macao and expects it to deliver continued growth in the long haul. In fact, the company’s planned investment of over $1.1 billion in new capital projects in Macao over the next three years, given the continual revival of gaming revenues therein, also bodes well for long-term growth. High occupancy rates at the Las Vegas properties are likely to further drive growth. Its shares have also outperformed the industry in the past six months. However, fears of another corruption crackdown by the authorities, Intense competition and high debt burden raise concern.”

A number of other research firms have also weighed in on LVS. Morgan Stanley raised shares of Las Vegas Sands Corp. from an equal weight rating to an overweight rating and set a $65.00 price objective on the stock in a research note on Monday, November 6th. Roth Capital assumed coverage on shares of Las Vegas Sands Corp. in a research note on Wednesday, October 25th. They issued a buy rating and a $69.00 price objective on the stock. Nomura raised their price objective on shares of Las Vegas Sands Corp. from $54.00 to $57.00 and gave the company a neutral rating in a research note on Thursday, October 26th. Gabelli raised their price objective on shares of Las Vegas Sands Corp. from $60.00 to $68.00 and gave the company a buy rating in a research note on Thursday, October 26th. Finally, Deutsche Bank AG raised their price objective on shares of Las Vegas Sands Corp. from $54.00 to $57.00 and gave the company a hold rating in a research note on Thursday, October 26th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $65.31.

Las Vegas Sands Corp. (LVS) traded down $0.04 during trading on Friday, hitting $67.21. 934,465 shares of the company’s stock were exchanged, compared to its average volume of 3,318,484. Las Vegas Sands Corp. has a 12-month low of $51.35 and a 12-month high of $68.41. The company has a market capitalization of $53,278.35, a price-to-earnings ratio of 24.25 and a beta of 1.78. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.07 and a quick ratio of 1.05.

Las Vegas Sands Corp. (NYSE:LVS) last released its quarterly earnings data on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. Las Vegas Sands Corp. had a net margin of 16.80% and a return on equity of 31.11%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. sell-side analysts forecast that Las Vegas Sands Corp. will post 2.87 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 21st will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Wednesday, December 20th. This represents a $2.92 dividend on an annualized basis and a yield of 4.34%. Las Vegas Sands Corp.’s dividend payout ratio (DPR) is presently 110.19%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Las Vegas Sands Corp. by 1.6% in the second quarter. Vanguard Group Inc. now owns 20,034,880 shares of the casino operator’s stock worth $1,280,029,000 after purchasing an additional 322,708 shares in the last quarter. BlackRock Inc. increased its stake in shares of Las Vegas Sands Corp. by 2.3% in the second quarter. BlackRock Inc. now owns 16,129,966 shares of the casino operator’s stock worth $1,030,543,000 after purchasing an additional 365,566 shares in the last quarter. Capital World Investors increased its stake in shares of Las Vegas Sands Corp. by 14.5% in the second quarter. Capital World Investors now owns 9,998,000 shares of the casino operator’s stock worth $638,772,000 after purchasing an additional 1,263,000 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Las Vegas Sands Corp. by 40.8% in the second quarter. Bank of New York Mellon Corp now owns 6,506,795 shares of the casino operator’s stock worth $415,720,000 after purchasing an additional 1,886,376 shares in the last quarter. Finally, Thornburg Investment Management Inc. increased its stake in shares of Las Vegas Sands Corp. by 4.8% in the third quarter. Thornburg Investment Management Inc. now owns 4,387,745 shares of the casino operator’s stock worth $281,518,000 after purchasing an additional 199,979 shares in the last quarter. Institutional investors and hedge funds own 38.24% of the company’s stock.

Las Vegas Sands Corp. Company Profile

Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.

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Analyst Recommendations for Las Vegas Sands Corp. (NYSE:LVS)

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