Las Vegas Sands (NYSE:LVS) Price Target Raised to $58.00

Las Vegas Sands (NYSE:LVS) had its price objective raised by Barclays from $57.00 to $58.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

A number of other equities analysts have also commented on the stock. Morgan Stanley lifted their price target on shares of Las Vegas Sands from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Hsbc Global Res raised Las Vegas Sands to a “strong-buy” rating in a report on Thursday, April 24th. Stifel Nicolaus set a $57.00 price target on Las Vegas Sands and gave the company a “buy” rating in a research report on Thursday, April 24th. UBS Group raised their price objective on Las Vegas Sands from $43.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Finally, Susquehanna cut their price objective on Las Vegas Sands from $59.00 to $58.00 and set a “positive” rating on the stock in a research note on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.50.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $52.41 on Thursday. The firm has a market capitalization of $37.03 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.56 and a beta of 1.03. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.58. The business’s 50-day moving average price is $44.48 and its 200-day moving average price is $42.09. Las Vegas Sands has a 12 month low of $30.18 and a 12 month high of $56.60.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.26. Las Vegas Sands had a net margin of 12.16% and a return on equity of 51.16%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the business earned $0.55 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts forecast that Las Vegas Sands will post 2.6 EPS for the current year.

Las Vegas Sands announced that its board has authorized a stock repurchase plan on Wednesday, April 23rd that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the casino operator to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Las Vegas Sands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 13th. Investors of record on Tuesday, August 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, August 5th. Las Vegas Sands’s dividend payout ratio is presently 50.51%.

Hedge Funds Weigh In On Las Vegas Sands

Several institutional investors have recently made changes to their positions in LVS. Envestnet Portfolio Solutions Inc. boosted its holdings in Las Vegas Sands by 10.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,023 shares of the casino operator’s stock worth $258,000 after acquiring an additional 474 shares in the last quarter. American Century Companies Inc. raised its position in shares of Las Vegas Sands by 36.5% during the fourth quarter. American Century Companies Inc. now owns 335,010 shares of the casino operator’s stock worth $17,206,000 after purchasing an additional 89,508 shares during the period. LPL Financial LLC lifted its holdings in shares of Las Vegas Sands by 28.8% in the 4th quarter. LPL Financial LLC now owns 223,371 shares of the casino operator’s stock worth $11,472,000 after purchasing an additional 49,982 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Las Vegas Sands by 11.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,663 shares of the casino operator’s stock valued at $29,025,000 after purchasing an additional 59,675 shares during the period. Finally, Elo Mutual Pension Insurance Co increased its stake in Las Vegas Sands by 14.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 37,887 shares of the casino operator’s stock valued at $1,946,000 after purchasing an additional 4,798 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

About Las Vegas Sands

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.