Cumberland Partners Ltd Takes Position in Las Vegas Sands Corp. $LVS

Cumberland Partners Ltd purchased a new position in Las Vegas Sands Corp. (NYSE:LVS) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 15,000 shares of the casino operator’s stock, valued at approximately $808,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Las Vegas Sands by 222.7% during the fourth quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock valued at $592,223,000 after buying an additional 6,279,390 shares during the period. Norges Bank purchased a new stake in Las Vegas Sands during the fourth quarter worth $364,892,000. Arrowstreet Capital Limited Partnership boosted its position in Las Vegas Sands by 410.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock valued at $277,963,000 after acquiring an additional 4,154,753 shares in the last quarter. M&T Bank Corp boosted its position in Las Vegas Sands by 33,102.6% during the 4th quarter. M&T Bank Corp now owns 3,060,288 shares of the casino operator’s stock valued at $197,463,000 after acquiring an additional 3,051,071 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of 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 acquiring an additional 1,246,206 shares during the period. 39.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LVS has been the subject of several recent research reports. Barclays reduced their price target on Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday. Jefferies Financial Group lifted their target price on Las Vegas Sands from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. HSBC boosted their target price on shares of Las Vegas Sands from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. The Goldman Sachs Group lowered their price target on shares of Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Zacks Research downgraded shares of Las Vegas Sands from a “hold” rating to a “strong sell” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Las Vegas Sands has an average rating of “Moderate Buy” and a consensus target price of $62.31.

Las Vegas Sands Stock Up 0.2%

Las Vegas Sands stock opened at $46.12 on Friday. The company has a debt-to-equity ratio of 8.64, a current ratio of 0.92 and a quick ratio of 0.91. The stock has a market capitalization of $30.56 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.15 and a beta of 0.83. Las Vegas Sands Corp. has a 1-year low of $44.21 and a 1-year high of $70.45. The business has a fifty day moving average price of $48.24 and a 200-day moving average price of $53.22.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 117.08% and a net margin of 12.59%.The business had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that Las Vegas Sands Corp. will post 3.21 EPS for the current fiscal year.

Las Vegas Sands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.6%. Las Vegas Sands’s payout ratio is presently 46.69%.

Las Vegas Sands News Roundup

Here are the key news stories impacting Las Vegas Sands this week:

• Positive Sentiment: Investors are still looking beyond near-term weakness because Las Vegas Sands is investing heavily in premium travel demand, including Macau property upgrades and an $8 billion Singapore expansion that could support future growth. Article Title
• Positive Sentiment: Despite the selloff after earnings, some market coverage says LVS is gaining as investors focus on the company’s long-term assets and ignore temporary headwinds. Article Title

Las Vegas Sands 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.