Las Vegas Sands (NYSE:LVS) Sets New 12-Month Low Following Weak Earnings

Las Vegas Sands Corp. (NYSE:LVS)’s stock price hit a new 52-week low on Thursday following a weaker than expected earnings announcement. The stock traded as low as $44.21 and last traded at $45.6390, with a volume of 833602 shares changing hands. The stock had previously closed at $45.25.

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 118.27% and a net margin of 13.41%.The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s quarterly revenue was down .7% on a year-over-year basis.

Las Vegas Sands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Tuesday, August 4th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 4th. Las Vegas Sands’s payout ratio is presently 44.44%.

Las Vegas Sands News Roundup

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

• Positive Sentiment: Las Vegas Sands declared a quarterly dividend of $0.30 per share, signaling continued cash returns to shareholders and supporting the stock’s income appeal.
• Positive Sentiment: The company also repurchased $787 million of stock during the quarter and raised its buyback authorization to $6.0 billion, which can help offset share dilution and support earnings per share over time.
• Neutral Sentiment: Analysts kept generally constructive views on the name, with Susquehanna lowering its price target to $64 from $72 while maintaining a positive rating, and other recent targets still implying meaningful upside.
• Negative Sentiment: Q2 earnings missed expectations: LVS reported $0.59 per share versus estimates around $0.76-$0.77, while revenue of $3.15 billion also came in below consensus, reinforcing concerns about near-term operating momentum.
• Negative Sentiment: Revenue declined slightly year over year, and commentary/market reaction pointed to weaker Macau gaming demand and margin pressure as key headwinds for the company’s most important market.

Analyst Upgrades and Downgrades

LVS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on Las Vegas Sands from $77.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Las Vegas Sands from $68.00 to $64.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Morgan Stanley set a $68.00 target price on shares of Las Vegas Sands in a report on Wednesday. Mizuho upped their target price on shares of Las Vegas Sands from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Weiss Ratings cut shares of Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.69.

Institutional Trading of Las Vegas Sands

A number of large investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in Las Vegas Sands by 0.3% in the 3rd quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator’s stock valued at $2,902,000 after buying an additional 156 shares during the period. Parallel Advisors LLC boosted its stake in Las Vegas Sands by 7.8% during the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator’s stock worth $132,000 after buying an additional 177 shares during the period. &PARTNERS increased its position in shares of Las Vegas Sands by 3.2% during the fourth quarter. &PARTNERS now owns 6,930 shares of the casino operator’s stock valued at $453,000 after acquiring an additional 214 shares during the last quarter. United Capital Financial Advisors LLC raised its stake in shares of Las Vegas Sands by 5.5% in the 3rd quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator’s stock valued at $266,000 after acquiring an additional 258 shares during the period. Finally, Kestra Private Wealth Services LLC raised its stake in shares of Las Vegas Sands by 4.2% in the 4th quarter. Kestra Private Wealth Services LLC now owns 6,859 shares of the casino operator’s stock valued at $446,000 after acquiring an additional 279 shares during the period. Institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Stock Performance

The firm’s fifty day moving average price is $48.43 and its 200 day moving average price is $53.40. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. The stock has a market capitalization of $30.38 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 1.12 and a beta of 0.83.

About Las Vegas Sands

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.