Zacks Investment Research upgraded shares of Las Vegas Sands Corp. (NYSE:LVS) from a hold rating to a buy rating in a research report released on Wednesday. Zacks Investment Research currently has $75.00 price target on the casino operator’s stock.

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. Additionally, its shares have outperformed the industry in the past six months. However, fears of another corruption crackdown by the authorities may hamper performance. Even so, high occupancy rates at the Las Vegas properties are likely to drive growth.”

LVS has been the topic of a number of other reports. Stifel Nicolaus reiterated a buy rating on shares of Las Vegas Sands Corp. in a report on Sunday, September 3rd. Instinet reiterated a neutral rating on shares of Las Vegas Sands Corp. in a report on Monday, July 17th. Deutsche Bank AG lifted their price target on Las Vegas Sands Corp. from $54.00 to $57.00 and gave the company a hold rating in a report on Thursday, October 26th. Nomura lifted their price target on Las Vegas Sands Corp. from $54.00 to $57.00 and gave the company a neutral rating in a report on Thursday, October 26th. Finally, Telsey Advisory Group lifted their price target on Las Vegas Sands Corp. from $64.00 to $66.00 and gave the company a market perform rating in a report on Thursday, July 27th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Las Vegas Sands Corp. currently has a consensus rating of Buy and an average target price of $65.31.

Las Vegas Sands Corp. (NYSE LVS) opened at $67.40 on Wednesday. The company has a market capitalization of $53,278.35, a price-to-earnings ratio of 24.24 and a beta of 1.78. Las Vegas Sands Corp. has a fifty-two week low of $51.35 and a fifty-two week high of $68.41. The company has a current ratio of 1.07, a quick ratio of 1.19 and a debt-to-equity ratio of 1.38.

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

WARNING: “Las Vegas Sands Corp. (LVS) Upgraded to “Buy” by Zacks Investment Research” was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of United States and international trademark and copyright law. The legal version of this news story can be viewed at https://www.watchlistnews.com/las-vegas-sands-corp-lvs-upgraded-to-buy-by-zacks-investment-research/1697834.html.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 21st will be given 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 4.33%. Las Vegas Sands Corp.’s dividend payout ratio is currently 110.19%.

Institutional investors and hedge funds have recently modified their holdings of the business. Global X Management Co. LLC lifted its position in Las Vegas Sands Corp. by 8.3% during the 2nd quarter. Global X Management Co. LLC now owns 1,653 shares of the casino operator’s stock worth $106,000 after acquiring an additional 126 shares during the period. Ffcm LLC lifted its position in Las Vegas Sands Corp. by 90.9% during the 2nd quarter. Ffcm LLC now owns 2,436 shares of the casino operator’s stock worth $153,000 after acquiring an additional 1,160 shares during the period. State of Alaska Department of Revenue lifted its position in Las Vegas Sands Corp. by 24.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,603 shares of the casino operator’s stock worth $166,000 after acquiring an additional 510 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Las Vegas Sands Corp. by 143.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,731 shares of the casino operator’s stock worth $174,000 after acquiring an additional 1,610 shares during the period. Finally, Lee Financial Co lifted its position in Las Vegas Sands Corp. by 1.4% during the 2nd quarter. Lee Financial Co now owns 3,091 shares of the casino operator’s stock worth $197,000 after acquiring an additional 43 shares during the period. 38.27% of the stock is owned by institutional investors.

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.

Get a free copy of the Zacks research report on Las Vegas Sands Corp. (LVS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Las Vegas Sands Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.