Telsey Advisory Group Raises Las Vegas Sands Corp. (LVS) Price Target to $66.00
Las Vegas Sands Corp. (NYSE:LVS) had its price target raised by Telsey Advisory Group from $64.00 to $66.00 in a report released on Thursday, Marketbeat Ratings reports. Telsey Advisory Group currently has a market perform rating on the casino operator’s stock.
Several other analysts have also recently issued reports on the stock. Bank of America Corporation reissued a buy rating and set a $67.00 price target (up previously from $65.00) on shares of Las Vegas Sands Corp. in a research report on Friday, July 21st. Stifel Nicolaus reissued a buy rating and set a $70.00 price target (up previously from $66.00) on shares of Las Vegas Sands Corp. in a research report on Tuesday, July 18th. Instinet reaffirmed a neutral rating on shares of Las Vegas Sands Corp. in a report on Monday, July 17th. UBS AG reaffirmed a neutral rating on shares of Las Vegas Sands Corp. in a report on Monday, July 10th. Finally, Morgan Stanley reaffirmed an equal weight rating and issued a $62.00 target price (up previously from $58.00) on shares of Las Vegas Sands Corp. in a report on Monday, July 10th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $62.65.
Las Vegas Sands Corp. (LVS) traded up 1.52% during midday trading on Thursday, hitting $62.21. 1,591,248 shares of the stock traded hands. The firm has a market cap of $49.27 billion, a P/E ratio of 24.21 and a beta of 1.81. The company’s 50-day moving average is $63.20 and its 200 day moving average is $57.94. Las Vegas Sands Corp. has a 12-month low of $49.09 and a 12-month high of $66.22. Las Vegas Sands Corp. also was the target of unusually large options trading activity on Friday. Stock investors purchased 12,309 put options on the stock. This is an increase of approximately 242% compared to the typical daily volume of 3,595 put options.
Las Vegas Sands Corp. (NYSE:LVS) last issued its quarterly earnings results on Wednesday, July 26th. The casino operator reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Las Vegas Sands Corp. had a net margin of 16.66% and a return on equity of 29.31%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, analysts anticipate that Las Vegas Sands Corp. will post $2.67 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Wednesday, September 20th. Las Vegas Sands Corp.’s dividend payout ratio (DPR) is presently 113.18%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LVS. BlackRock Inc. increased its position in Las Vegas Sands Corp. by 2,504.7% in the first quarter. BlackRock Inc. now owns 15,764,400 shares of the casino operator’s stock valued at $899,674,000 after buying an additional 15,159,167 shares during the period. Nicholas Investment Partners LP increased its position in shares of Las Vegas Sands Corp. by 2,418.0% in the first quarter. Nicholas Investment Partners LP now owns 1,500,000 shares of the casino operator’s stock valued at $85,605,000 after buying an additional 1,440,429 shares during the last quarter. Investec Asset Management LTD purchased a new position in shares of Las Vegas Sands Corp. during the first quarter valued at $74,167,000. Vontobel Asset Management Inc. increased its position in shares of Las Vegas Sands Corp. by 29.8% in the first quarter. Vontobel Asset Management Inc. now owns 5,646,362 shares of the casino operator’s stock valued at $327,900,000 after buying an additional 1,297,306 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its position in shares of Las Vegas Sands Corp. by 39.0% in the first quarter. Thornburg Investment Management Inc. now owns 4,187,059 shares of the casino operator’s stock valued at $238,955,000 after buying an additional 1,174,688 shares during the last quarter. 38.31% of the stock is owned by institutional investors and hedge funds.
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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