Las Vegas Sands (NYSE:LVS) Hits New 1-Year Low – Here’s Why

Shares of Las Vegas Sands Corp. (NYSE:LVS) hit a new 52-week low on Tuesday . The stock traded as low as $41.99 and last traded at $42.1590, with a volume of 141038 shares changing hands. The stock had previously closed at $42.40.

Wall Street Analysts Forecast Growth

Several research firms have commented on LVS. Wells Fargo & Company lowered their price objective on Las Vegas Sands from $53.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. Susquehanna cut their target price on shares of Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating for the company in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $62.00 target price (down from $73.00) on shares of Las Vegas Sands in a research note on Thursday, July 23rd. HSBC dropped their price target on shares of Las Vegas Sands from $78.00 to $68.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group decreased their price objective on shares of Las Vegas Sands from $52.00 to $47.00 and set a “hold” rating for the company in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.84.

Las Vegas Sands Stock Performance

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 firm has a fifty day simple moving average of $45.70 and a 200 day simple moving average of $49.93. The company has a market capitalization of $27.38 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 1.06 and a beta of 0.83.

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

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Tuesday, August 4th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, August 4th. Las Vegas Sands’s payout ratio is presently 46.69%.

Hedge Funds Weigh In On Las Vegas Sands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in shares of Las Vegas Sands by 4,502.5% during the second quarter. California State Teachers Retirement System now owns 23,512,696 shares of the casino operator’s stock worth $1,086,051,000 after purchasing an additional 23,001,830 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Las Vegas Sands by 58.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,186,257 shares of the casino operator’s stock valued at $532,843,000 after buying an additional 3,018,704 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Las Vegas Sands by 18.7% in the 4th quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator’s stock valued at $513,757,000 after buying an additional 1,246,206 shares in the last quarter. Norges Bank acquired a new stake in Las Vegas Sands in the 4th quarter worth about $364,892,000. Finally, Allianz Asset Management GmbH boosted its holdings in Las Vegas Sands by 36.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 4,617,148 shares of the casino operator’s stock worth $213,266,000 after buying an additional 1,244,943 shares during the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Company Profile

Las Vegas Sands Corp. (NYSE: LVS) develops and operates integrated resorts that combine casino gaming with hotels, convention and meeting facilities, dining, retail, entertainment and other leisure offerings. The company primarily serves international tourism, business travel and premium gaming markets.

Las Vegas Sands’ principal properties are Marina Bay Sands in Singapore and a portfolio of integrated resorts in Macao, including The Venetian Macao, The Londoner Macao, The Parisian Macao and Four Seasons Hotel Macao.