Las Vegas Sands (NYSE:LVS) Posts Earnings Results, Misses Estimates By $0.01 EPS

Las Vegas Sands (NYSE:LVS) released its earnings results on Wednesday. The casino operator reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01), Briefing.com reports. Las Vegas Sands had a return on equity of 42.34% and a net margin of 13.99%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the company posted $0.46 earnings per share. The company’s revenue was up 8.6% compared to the same quarter last year.

Las Vegas Sands Trading Down 0.9 %

NYSE LVS traded down $0.38 on Thursday, hitting $39.94. 3,805,202 shares of the stock were exchanged, compared to its average volume of 5,305,780. Las Vegas Sands has a 52-week low of $39.25 and a 52-week high of $60.47. The firm has a market capitalization of $29.76 billion, a P/E ratio of 19.75, a P/E/G ratio of 0.75 and a beta of 1.12. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.29 and a current ratio of 1.30. The stock has a fifty day moving average price of $43.70 and a two-hundred day moving average price of $48.08.

Institutional Investors Weigh In On Las Vegas Sands

Several institutional investors have recently made changes to their positions in LVS. Norges Bank bought a new position in shares of Las Vegas Sands during the fourth quarter valued at approximately $266,538,000. Vanguard Group Inc. grew its position in Las Vegas Sands by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 36,898,186 shares of the casino operator’s stock valued at $1,815,760,000 after acquiring an additional 4,264,043 shares during the last quarter. ARGA Investment Management LP increased its stake in Las Vegas Sands by 214.5% in the fourth quarter. ARGA Investment Management LP now owns 3,110,574 shares of the casino operator’s stock worth $153,071,000 after purchasing an additional 2,121,546 shares during the period. Janus Henderson Group PLC lifted its position in shares of Las Vegas Sands by 58.6% during the first quarter. Janus Henderson Group PLC now owns 5,330,023 shares of the casino operator’s stock worth $275,559,000 after purchasing an additional 1,968,941 shares during the last quarter. Finally, Ghisallo Capital Management LLC purchased a new stake in shares of Las Vegas Sands during the fourth quarter valued at $73,815,000. Institutional investors own 39.16% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LVS shares. JPMorgan Chase & Co. lowered their target price on shares of Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Wells Fargo & Company cut their target price on Las Vegas Sands from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Barclays lowered their price target on Las Vegas Sands from $57.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday. Jefferies Financial Group cut their price objective on shares of Las Vegas Sands from $53.00 to $47.00 and set a “hold” rating for the company in a report on Thursday, July 11th. Finally, Macquarie reduced their price target on shares of Las Vegas Sands from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.08.

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.