Trustmark National Bank Trust Department bought a new stake in Las Vegas Sands Corp. (NYSE:LVS – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,787 shares of the casino operator’s stock, valued at approximately $452,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management raised its position in Las Vegas Sands by 197.4% in the second quarter. Spire Wealth Management now owns 452 shares of the casino operator’s stock valued at $26,000 after purchasing an additional 300 shares during the period. ZRC Wealth Management LLC purchased a new stake in Las Vegas Sands in the first quarter valued at approximately $29,000. Capital Advisors Ltd. LLC grew its stake in shares of Las Vegas Sands by 434.7% in the second quarter. Capital Advisors Ltd. LLC now owns 524 shares of the casino operator’s stock worth $30,000 after acquiring an additional 426 shares in the last quarter. Retirement Group LLC acquired a new position in shares of Las Vegas Sands in the fourth quarter worth $31,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Las Vegas Sands in the first quarter worth $32,000. Hedge funds and other institutional investors own 39.16% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on LVS. JPMorgan Chase & Co. dropped their price target on shares of Las Vegas Sands from $71.00 to $64.00 in a research note on Tuesday, September 26th. UBS Group boosted their price target on shares of Las Vegas Sands from $71.00 to $77.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of Las Vegas Sands from $69.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 19th. Morgan Stanley lowered their target price on shares of Las Vegas Sands from $68.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, October 13th. Finally, Argus lowered their target price on shares of Las Vegas Sands from $72.00 to $68.00 in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.68.
Las Vegas Sands Price Performance
Shares of NYSE:LVS opened at $49.08 on Friday. The company has a 50-day simple moving average of $47.02 and a 200-day simple moving average of $53.80. Las Vegas Sands Corp. has a one year low of $41.42 and a one year high of $65.58. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 55.77, a PEG ratio of 3.65 and a beta of 1.19.
Las Vegas Sands (NYSE:LVS – Get Free Report) last posted its quarterly earnings results on Wednesday, October 18th. The casino operator reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Las Vegas Sands had a net margin of 7.81% and a return on equity of 21.05%. The firm’s revenue for the quarter was up 178.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.27) earnings per share. On average, analysts predict that Las Vegas Sands Corp. will post 1.91 EPS for the current year.
Las Vegas Sands Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Tuesday, November 7th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, November 6th. This represents a $0.80 annualized dividend and a yield of 1.63%. Las Vegas Sands’s dividend payout ratio is currently 90.91%.
Las Vegas Sands declared that its board has initiated a stock repurchase program on Wednesday, October 18th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the casino operator to purchase up to 5.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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.
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