Las Vegas Sands (NYSE:LVS) Reaches New 52-Week Low Following Weak Earnings

Las Vegas Sands Corp. (NYSE:LVS)’s stock price hit a new 52-week low on Thursday following a dissappointing earnings announcement. The company traded as low as $44.21 and last traded at $45.6390, with a volume of 833602 shares. The stock had previously closed at $45.25.

The casino operator reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 117.08%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company posted $0.66 EPS. The firm’s revenue was down .7% compared to the same quarter last year.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 4th. Las Vegas Sands’s dividend payout ratio is currently 44.44%.

More Las Vegas Sands News

Here are the key news stories impacting Las Vegas Sands this week:

• Positive Sentiment: Investors are still looking beyond near-term weakness because Las Vegas Sands is investing heavily in premium travel demand, including Macau property upgrades and an $8 billion Singapore expansion that could support future growth. Article Title
• Positive Sentiment: Despite the selloff after earnings, some market coverage says LVS is gaining as investors focus on the company’s long-term assets and ignore temporary headwinds. Article Title

Analyst Upgrades and Downgrades

LVS has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. decreased their price objective on shares of Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday. Morgan Stanley set a $68.00 target price on shares of Las Vegas Sands in a report on Wednesday. Susquehanna cut their price target on Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, UBS Group set a $52.00 price objective on Las Vegas Sands in a research report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.31.

Institutional Investors Weigh In On Las Vegas Sands

Several institutional investors have recently modified their holdings of LVS. International Assets Investment Management LLC bought a new position in shares of Las Vegas Sands during the fourth quarter valued at approximately $26,000. DV Equities LLC purchased a new position in Las Vegas Sands during the 4th quarter valued at $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Las Vegas Sands in the 4th quarter valued at $29,000. Wilmington Savings Fund Society FSB increased its stake in Las Vegas Sands by 254.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock worth $36,000 after purchasing an additional 400 shares during the period. Finally, IFP Advisors Inc increased its stake in Las Vegas Sands by 182.4% in the third quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock worth $36,000 after purchasing an additional 434 shares during the period. 39.16% of the stock is owned by institutional investors.

Las Vegas Sands Stock Performance

The firm has a market capitalization of $30.56 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.15 and a beta of 0.83. The firm has a 50-day moving average price of $48.24 and a two-hundred day moving average price of $53.22. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91.

About Las Vegas Sands

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.