Las Vegas Sands Corp. to Post FY2017 Earnings of $2.42 Per Share, Credit Agricole SA Forecasts (LVS)
Las Vegas Sands Corp. (NYSE:LVS) – Equities researchers at Credit Agricole SA dropped their FY2017 EPS estimates for shares of Las Vegas Sands Corp. in a note issued to investors on Monday. Credit Agricole SA analyst J. Oh now expects that the firm will post earnings of $2.42 per share for the year, down from their previous forecast of $2.53. Credit Agricole SA has a “Outperform” rating and a $58.00 price target on the stock.
A number of other equities analysts have also recently weighed in on LVS. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $45.00 price objective (up from $42.00) on shares of Las Vegas Sands Corp. in a report on Thursday, May 26th. TheStreet cut Las Vegas Sands Corp. from a “buy” rating to a “hold” rating in a report on Thursday, May 26th. Vetr cut Las Vegas Sands Corp. from a “buy” rating to a “hold” rating and set a $48.18 price objective on the stock. in a report on Wednesday, June 1st. Wells Fargo & Co. reissued a “hold” rating on shares of Las Vegas Sands Corp. in a report on Saturday, June 4th. Finally, Zacks Investment Research cut Las Vegas Sands Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, June 21st. Eleven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $54.29.
Las Vegas Sands Corp. (NYSE:LVS) traded down 0.65% on Tuesday, reaching $56.24. The company’s stock had a trading volume of 2,773,933 shares. The stock’s 50 day moving average price is $52.95 and its 200 day moving average price is $49.02. Las Vegas Sands Corp. has a 52-week low of $34.88 and a 52-week high of $58.65. The firm has a market cap of $44.69 billion, a PE ratio of 27.38 and a beta of 2.09.
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Las Vegas Sands Corp. (NYSE:LVS) last posted its quarterly earnings results on Monday, July 25th. The casino operator reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.04. The company earned $2.65 billion during the quarter, compared to analyst estimates of $2.76 billion. Las Vegas Sands Corp. had a net margin of 14.69% and a return on equity of 22.12%. The firm’s revenue for the quarter was down 9.3% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Seven Bridges Advisors LLC boosted its position in Las Vegas Sands Corp. by 45.8% in the second quarter. Seven Bridges Advisors LLC now owns 2,728 shares of the casino operator’s stock valued at $119,000 after buying an additional 857 shares in the last quarter. Pinkerton Retirement Specialists LLC acquired a new position in Las Vegas Sands Corp. during the second quarter valued at $119,000. Assetmark Inc. boosted its position in Las Vegas Sands Corp. by 10.6% in the second quarter. Assetmark Inc. now owns 3,069 shares of the casino operator’s stock valued at $133,000 after buying an additional 293 shares in the last quarter. Americafirst Capital Management LLC acquired a new position in Las Vegas Sands Corp. during the second quarter valued at $181,000. Finally, Bellwether Investment Group LLC acquired a new position in Las Vegas Sands Corp. during the second quarter valued at $186,000. Hedge funds and other institutional investors own 37.94% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 22nd will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Tuesday, September 20th. Las Vegas Sands Corp.’s dividend payout ratio is currently 140.49%.
About Las Vegas Sands Corp.
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that offers 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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