State Board of Administration of Florida Retirement System lowered its position in shares of Las Vegas Sands Corp. (NYSE:LVS) by 2.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 494,842 shares of the casino operator’s stock after selling 13,329 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.06% of Las Vegas Sands worth $29,240,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of LVS. BlackRock Inc. lifted its holdings in shares of Las Vegas Sands by 1.9% in the 1st quarter. BlackRock Inc. now owns 17,852,221 shares of the casino operator’s stock valued at $1,088,272,000 after buying an additional 334,937 shares during the period. Boston Partners lifted its holdings in shares of Las Vegas Sands by 0.7% in the 1st quarter. Boston Partners now owns 5,204,367 shares of the casino operator’s stock valued at $317,258,000 after buying an additional 34,348 shares during the period. Thornburg Investment Management Inc. lifted its holdings in shares of Las Vegas Sands by 1.7% in the 1st quarter. Thornburg Investment Management Inc. now owns 3,970,962 shares of the casino operator’s stock valued at $242,070,000 after buying an additional 66,485 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Las Vegas Sands by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 3,215,580 shares of the casino operator’s stock valued at $167,354,000 after buying an additional 87,729 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Las Vegas Sands by 8.0% in the 1st quarter. Northern Trust Corp now owns 2,775,407 shares of the casino operator’s stock valued at $169,188,000 after buying an additional 206,270 shares during the period. 36.42% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on LVS. Argus cut Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Tuesday. Morgan Stanley decreased their price objective on Las Vegas Sands from $71.00 to $68.00 and set an “overweight” rating for the company in a report on Thursday, June 6th. Goldman Sachs Group raised Las Vegas Sands to a “buy” rating in a report on Tuesday, June 11th. Finally, Zacks Investment Research raised Las Vegas Sands from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.46.
Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, July 24th. The casino operator reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.09). The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.39 billion. Las Vegas Sands had a return on equity of 35.77% and a net margin of 14.01%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS. Equities analysts forecast that Las Vegas Sands Corp. will post 3.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Wednesday, September 18th will be issued a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $3.08 dividend on an annualized basis and a yield of 5.74%. Las Vegas Sands’s payout ratio is 92.77%.
Las Vegas Sands Company Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.
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