Las Vegas Sands Corp. (LVS) Downgraded to “Buy” at Vetr Inc.

Vetr downgraded shares of Las Vegas Sands Corp. (NYSE:LVS) from a strong-buy rating to a buy rating in a research note published on Wednesday. Vetr currently has $62.30 price target on the casino operator’s stock.

Several other equities analysts have also weighed in on LVS. Bank of America Corporation upgraded shares of Las Vegas Sands Corp. from a neutral rating to a buy rating and boosted their target price for the company from $58.87 to $63.00 in a report on Tuesday, October 4th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating on shares of Las Vegas Sands Corp. in a report on Wednesday, October 5th. Wells Fargo & Company reiterated a neutral rating on shares of Las Vegas Sands Corp. in a report on Monday, October 10th. Gabelli reiterated a buy rating and issued a $65.00 target price on shares of Las Vegas Sands Corp. in a report on Monday, October 17th. Finally, Deutsche Bank AG boosted their target price on shares of Las Vegas Sands Corp. from $42.00 to $44.00 and gave the company a hold rating in a report on Wednesday, October 19th. Eleven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $59.25.

Shares of Las Vegas Sands Corp. (NYSE:LVS) remained flat at $52.80 during trading on Wednesday. 390,445 shares of the company were exchanged. The firm has a market cap of $41.96 billion, a P/E ratio of 25.14 and a beta of 1.97. The firm has a 50 day moving average price of $55.16 and a 200 day moving average price of $55.59. Las Vegas Sands Corp. has a one year low of $39.02 and a one year high of $63.38.

Las Vegas Sands Corp. (NYSE:LVS) last posted its earnings results on Wednesday, January 25th. The casino operator reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by $0.04. The firm earned $3.08 billion during the quarter, compared to analyst estimates of $3.11 billion. Las Vegas Sands Corp. had a net margin of 14.64% and a return on equity of 23.75%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, analysts anticipate that Las Vegas Sands Corp. will post $2.62 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Las Vegas Sands Corp. (LVS) Downgraded to “Buy” at Vetr Inc.” was originally reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright and trademark law. The legal version of this news story can be viewed at https://www.chaffeybreeze.com/2017/01/31/las-vegas-sands-corp-lvs-downgraded-to-buy-at-vetr-inc.html.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 23rd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Tuesday, March 21st. This is a boost from Las Vegas Sands Corp.’s previous quarterly dividend of $0.72. Las Vegas Sands Corp.’s dividend payout ratio (DPR) is 137.14%.

In related news, COO Robert G. Goldstein sold 169,111 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $62.84, for a total value of $10,626,935.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.10% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in LVS. Northern Cross LLC boosted its stake in shares of Las Vegas Sands Corp. by 3.7% in the third quarter. Northern Cross LLC now owns 40,482,778 shares of the casino operator’s stock valued at $2,343,143,000 after buying an additional 1,428,811 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Las Vegas Sands Corp. by 46.3% in the third quarter. Price T Rowe Associates Inc. MD now owns 33,515,789 shares of the casino operator’s stock worth $1,928,498,000 after buying an additional 10,608,737 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Las Vegas Sands Corp. by 13.6% in the third quarter. Capital Research Global Investors now owns 28,783,856 shares of the casino operator’s stock worth $1,656,223,000 after buying an additional 3,455,762 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Las Vegas Sands Corp. by 2.0% in the second quarter. Vanguard Group Inc. now owns 18,025,317 shares of the casino operator’s stock worth $783,922,000 after buying an additional 350,052 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Las Vegas Sands Corp. by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,929,696 shares of the casino operator’s stock worth $513,815,000 after buying an additional 72,193 shares during the last quarter. Hedge funds and other institutional investors own 39.59% of the company’s stock.

About Las Vegas Sands Corp.

Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that offers accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.

5 Day Chart for NYSE:LVS

To view Vetr’s full report, visit Vetr’s official website.

Receive News & Ratings for Las Vegas Sands Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands Corp. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply