Las Vegas Sands Corp. (LVS) Stock Rating Reaffirmed by Wells Fargo
Las Vegas Sands Corp. (NYSE:LVS)‘s stock had its “market perform” rating reissued by equities research analysts at Wells Fargo in a research report issued on Sunday, Market Beat.com reports.
A number of other research firms have also recently commented on LVS. Gabelli assumed coverage on shares of Las Vegas Sands Corp. in a research note on Tuesday, October 27th. They set a “buy” rating and a $60.00 target price on the stock. Barclays cut shares of Las Vegas Sands Corp. from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $55.00 to $45.00 in a research note on Tuesday, October 27th. Vetr cut shares of Las Vegas Sands Corp. from a “sell” rating to a “strong sell” rating and set a $41.32 target price on the stock. in a research note on Monday, October 26th. Susquehanna decreased their target price on shares of Las Vegas Sands Corp. from $58.00 to $57.00 and set a “positive” rating on the stock in a research note on Thursday, October 15th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Las Vegas Sands Corp. in a research note on Wednesday, October 21st. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Las Vegas Sands Corp. has a consensus rating of “Buy” and an average price target of $52.95.
Las Vegas Sands Corp. (NYSE:LVS) traded up 5.40% during midday trading on Friday, reaching $45.10. 8,823,459 shares of the company were exchanged. The company has a 50-day moving average of $41.24 and a 200 day moving average of $46.47. Las Vegas Sands Corp. has a 52 week low of $34.88 and a 52 week high of $61.59. The firm has a market capitalization of $35.85 billion and a PE ratio of 18.27.
Las Vegas Sands Corp. (NYSE:LVS) last released its earnings results on Wednesday, January 27th. The casino operator reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.03. During the same quarter last year, the firm posted $0.92 EPS. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.95 billion. The company’s revenue for the quarter was down 16.2% compared to the same quarter last year. Equities analysts predict that Las Vegas Sands Corp. will post $2.47 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 31st. Stockholders of record on Tuesday, March 22nd will be given a dividend of $0.72 per share. The ex-dividend date is Friday, March 18th. This represents a $2.88 annualized dividend and a dividend yield of 6.39%. This is a boost from Las Vegas Sands Corp.’s previous quarterly dividend of $0.65.
Several hedge funds have added to or reduced their stakes in the company. Newport Asia LLC acquired a new stake in Las Vegas Sands Corp. during the fourth quarter valued at $33,722,000. California State Teachers Retirement System increased its stake in Las Vegas Sands Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 677,503 shares of the casino operator’s stock valued at $29,702,000 after buying an additional 10,800 shares during the period. Regions Financial Corp increased its stake in Las Vegas Sands Corp. by 1.2% in the fourth quarter. Regions Financial Corp now owns 312,742 shares of the casino operator’s stock valued at $13,710,000 after buying an additional 3,695 shares during the period. Great West Life Assurance Co. Can increased its stake in Las Vegas Sands Corp. by 0.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 230,197 shares of the casino operator’s stock valued at $10,093,000 after buying an additional 1,841 shares during the period. Finally, Rothschild Investment Corp IL increased its stake in Las Vegas Sands Corp. by 8.9% in the fourth quarter. Rothschild Investment Corp IL now owns 176,306 shares of the casino operator’s stock valued at $7,729,000 after buying an additional 14,350 shares during the period.
In other news, COO Robert G. Goldstein sold 97,943 shares of Las Vegas Sands Corp. stock in a transaction on Monday, January 4th. The stock was sold at an average price of $42.25, for a total transaction of $4,138,091.75. Following the completion of the sale, the chief operating officer now directly owns 127,057 shares in the company, valued at $5,368,158.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Tanasijevich sold 6,341 shares of Las Vegas Sands Corp. stock in a transaction on Thursday, December 31st. The stock was sold at an average price of $43.77, for a total value of $277,545.57. Following the sale, the chief executive officer now owns 25,179 shares of the company’s stock, valued at $1,102,084.83. The disclosure for this sale can be found here.
Las Vegas Sands Corp. (NYSE:LVS) is a developer of destination properties that offers accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company’s principal operating and developmental activities occur in three geographic areas: Macao, Singapore and the United States. In Macao, its operating segments are The Venetian Macao; Sands Cotai Central; Four Seasons Macao; Sands Macao, and Other Asia (that includes its ferry operations and various other operations). In Singapore, its operating segment is Marina Bay Sands. In the United States, its operating segments are The Venetian Las Vegas, which includes the Sands Expo Center and The Palazzo, and Sands Bethlehem. The Paiza Club located at the Company’s properties is an invitation-only club, which offers a range of services and amenities. The Company also offers players club loyalty programs at its properties.
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