Saranac Partners Ltd Makes New Investment in Las Vegas Sands Corp. $LVS

Saranac Partners Ltd bought a new position in shares of Las Vegas Sands Corp. (NYSE:LVS) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 108,300 shares of the casino operator’s stock, valued at approximately $5,005,000. Las Vegas Sands makes up 1.5% of Saranac Partners Ltd’s portfolio, making the stock its 27th largest holding.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Las Vegas Sands during the fourth quarter worth $26,000. DV Equities LLC bought a new stake in shares of Las Vegas Sands in the 4th quarter worth about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Las Vegas Sands during the 4th quarter worth about $29,000. Wilmington Savings Fund Society FSB increased its position in shares of Las Vegas Sands by 254.8% during the 4th 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 in the last quarter. Finally, IFP Advisors Inc lifted its holdings in Las Vegas Sands by 182.4% during the 3rd quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock valued at $36,000 after purchasing an additional 434 shares during the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LVS. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $62.00 price objective (down from $73.00) on shares of Las Vegas Sands in a research note on Thursday, July 23rd. Barclays reduced their target price on Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Wells Fargo & Company dropped their price target on Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating for the company in a report on Tuesday, July 14th. Stifel Nicolaus cut their price objective on Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Finally, Argus downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, July 30th. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.88.

Las Vegas Sands Price Performance

LVS opened at $47.04 on Monday. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99. The stock has a market capitalization of $30.47 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.16 and a beta of 0.85. The company’s 50 day simple moving average is $46.69 and its 200-day simple moving average is $51.37. Las Vegas Sands Corp. has a one year low of $44.21 and a one year high of $70.45.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). The firm had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.31 billion. Las Vegas Sands had a return on equity of 133.90% and a net margin of 12.59%.The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share. Sell-side analysts anticipate that Las Vegas Sands Corp. will post 3.09 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Tuesday, August 4th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $1.20 annualized dividend and a yield of 2.6%. Las Vegas Sands’s dividend payout ratio is presently 46.69%.

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.