Las Vegas Sands Corp.’s (LVS) Buy Rating Reaffirmed at Gabelli
Las Vegas Sands Corp. (NYSE:LVS)‘s stock had its “buy” rating restated by equities research analysts at Gabelli in a research report issued on Monday. They presently have a $65.00 target price on the casino operator’s stock. Gabelli’s price objective indicates a potential upside of 12.59% from the company’s current price.
Several other research analysts also recently commented on the stock. Vetr raised shares of Las Vegas Sands Corp. from a “buy” rating to a “strong-buy” rating and set a $66.73 target price on the stock in a research note on Monday, October 3rd. Buckingham Research assumed coverage on shares of Las Vegas Sands Corp. in a research report on Thursday, August 11th. They set a “neutral” rating and a $55.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands Corp. from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, September 8th. Citigroup Inc. reissued a “buy” rating and set a $62.00 price objective on shares of Las Vegas Sands Corp. in a research report on Wednesday, September 14th. Finally, Bank of America Corp. raised shares of Las Vegas Sands Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $58.87 to $63.00 in a research report on Tuesday, October 4th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Las Vegas Sands Corp. presently has a consensus rating of “Buy” and a consensus price target of $56.05.
Shares of Las Vegas Sands Corp. (NYSE:LVS) traded down 0.182% during trading on Monday, reaching $57.625. The company’s stock had a trading volume of 2,274,816 shares. The stock has a market capitalization of $45.79 billion, a PE ratio of 28.055 and a beta of 2.03. Las Vegas Sands Corp. has a 12-month low of $34.88 and a 12-month high of $60.00. The firm’s 50-day moving average is $56.47 and its 200-day moving average is $49.87.
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Las Vegas Sands Corp. (NYSE:LVS) last issued its earnings results on Monday, July 25th. The casino operator reported $0.52 EPS for the quarter, missing the consensus estimate of $0.56 by $0.04. Las Vegas Sands Corp. had a return on equity of 22.12% and a net margin of 14.69%. The firm earned $2.65 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was down 9.3% compared to the same quarter last year. Equities analysts expect that Las Vegas Sands Corp. will post $2.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 22nd were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 4.99%. The ex-dividend date was Tuesday, September 20th. Las Vegas Sands Corp.’s payout ratio is currently 140.49%.
Several large investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. raised its stake in Las Vegas Sands Corp. by 76.5% in the second quarter. Cullen Frost Bankers Inc. now owns 348,400 shares of the casino operator’s stock valued at $15,152,000 after buying an additional 151,006 shares in the last quarter. Steinberg Global Asset Management raised its stake in Las Vegas Sands Corp. by 16.3% in the first quarter. Steinberg Global Asset Management now owns 9,581 shares of the casino operator’s stock valued at $495,000 after buying an additional 1,343 shares in the last quarter. Artemis Investment Management LLP raised its stake in Las Vegas Sands Corp. by 1.1% in the second quarter. Artemis Investment Management LLP now owns 1,017,128 shares of the casino operator’s stock valued at $44,240,000 after buying an additional 11,271 shares in the last quarter. Grimes & Company Inc. raised its stake in Las Vegas Sands Corp. by 2.4% in the second quarter. Grimes & Company Inc. now owns 99,823 shares of the casino operator’s stock valued at $4,341,000 after buying an additional 2,348 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake in Las Vegas Sands Corp. by 49.2% in the second quarter. Shell Asset Management Co. now owns 31,958 shares of the casino operator’s stock valued at $1,390,000 after buying an additional 10,537 shares in the last quarter. 38.12% of the stock is owned by hedge funds and other institutional investors.
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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