Las Vegas Sands (NYSE:LVS) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Las Vegas Sands (NYSE:LVS) released its quarterly earnings results on Wednesday. The casino operator reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.13, Briefing.com reports. Las Vegas Sands had a return on equity of 41.81% and a net margin of 13.99%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The firm’s revenue was up 34.9% on a year-over-year basis.

Las Vegas Sands Price Performance

Shares of Las Vegas Sands stock opened at $45.88 on Friday. The stock has a 50 day moving average of $52.22 and a 200 day moving average of $49.60. Las Vegas Sands has a 12 month low of $43.77 and a 12 month high of $65.58. The firm has a market cap of $34.47 billion, a PE ratio of 22.16, a PEG ratio of 0.82 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 2.96.

Las Vegas Sands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Monday, May 6th. Las Vegas Sands’s payout ratio is presently 38.65%.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $52.06, for a total transaction of $5,206,000.00. Following the sale, the chief executive officer now directly owns 172,801 shares in the company, valued at $8,996,020.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vestor Capital LLC raised its position in Las Vegas Sands by 175.2% during the second quarter. Vestor Capital LLC now owns 2,356 shares of the casino operator’s stock valued at $137,000 after purchasing an additional 1,500 shares during the period. Groupama Asset Managment purchased a new stake in shares of Las Vegas Sands in the fourth quarter worth approximately $113,000. State of Wyoming purchased a new stake in shares of Las Vegas Sands in the fourth quarter worth approximately $112,000. LM Advisors LLC purchased a new stake in shares of Las Vegas Sands in the fourth quarter worth approximately $111,000. Finally, Industrial Alliance Investment Management Inc. raised its holdings in shares of Las Vegas Sands by 16.4% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the casino operator’s stock worth $75,000 after buying an additional 220 shares during the period. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on LVS shares. Jefferies Financial Group lowered their price objective on Las Vegas Sands from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Thursday. Barclays lowered their price objective on Las Vegas Sands from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday. Citigroup boosted their price target on Las Vegas Sands from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company reduced their price objective on Las Vegas Sands from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, StockNews.com upgraded Las Vegas Sands from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and an average target price of $64.47.

Las Vegas Sands Company Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, 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 Marina Bay Sands in Singapore.