Las Vegas Sands (NYSE:LVS) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Las Vegas Sands (NYSE:LVS) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

LVS has been the topic of several other reports. Argus increased their price objective on shares of Las Vegas Sands from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, December 1st. Mizuho upped their price target on shares of Las Vegas Sands from $56.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. Stifel Nicolaus increased their price target on shares of Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen upgraded Las Vegas Sands from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 13th. Finally, UBS Group upped their target price on Las Vegas Sands from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.52.

Las Vegas Sands Stock Performance

LVS opened at $66.13 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 7.42. Las Vegas Sands has a 12-month low of $30.18 and a 12-month high of $70.45. The business has a 50 day moving average of $62.92 and a 200-day moving average of $54.98. The stock has a market cap of $44.71 billion, a price-to-earnings ratio of 29.92, a PEG ratio of 1.81 and a beta of 0.97.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.16. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the previous year, the firm earned $0.44 EPS. The firm’s revenue was up 24.2% compared to the same quarter last year. On average, equities research analysts expect that Las Vegas Sands will post 2.6 earnings per share for the current year.

Las Vegas Sands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 12th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $1.00 annualized dividend and a dividend yield of 1.5%. Las Vegas Sands’s dividend payout ratio (DPR) is currently 45.25%.

Insider Activity

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 1,198,650 shares of Las Vegas Sands stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total value of $79,925,982.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Miriam Adelson sold 77,991 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $67.56, for a total value of $5,269,071.96. Following the sale, the insider owned 23,333,441 shares of the company’s stock, valued at approximately $1,576,407,273.96. The trade was a 0.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,182,053 shares of company stock worth $333,348,399. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Total Investment Management Inc. acquired a new stake in Las Vegas Sands during the second quarter worth about $25,000. Westside Investment Management Inc. lifted its holdings in shares of Las Vegas Sands by 48.0% during the 3rd quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock worth $28,000 after acquiring an additional 166 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Las Vegas Sands during the 3rd quarter worth approximately $33,000. Smartleaf Asset Management LLC increased its stake in Las Vegas Sands by 549.5% in the third quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator’s stock valued at $35,000 after acquiring an additional 533 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Las Vegas Sands by 182.4% during the third quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock valued at $36,000 after purchasing an additional 434 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

Las Vegas Sands Company Profile

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.