Las Vegas Sands (LVS) Receives New Coverage from Analysts at Credit Suisse Group
Credit Suisse Group initiated coverage on shares of Las Vegas Sands (NYSE:LVS) in a research report released on Tuesday morning, The Fly reports. The firm issued a neutral rating and a $72.00 price objective on the casino operator’s stock.
A number of other research analysts have also issued reports on LVS. Morgan Stanley lifted their target price on Las Vegas Sands from $83.00 to $84.00 and gave the stock an overweight rating in a report on Thursday, April 19th. Zacks Investment Research raised Las Vegas Sands from a hold rating to a strong-buy rating and set a $84.00 target price on the stock in a report on Monday, April 30th. Nomura lowered their target price on Las Vegas Sands from $76.00 to $72.00 and set a neutral rating on the stock in a report on Monday, July 9th. Bank of America lowered Las Vegas Sands from a buy rating to a neutral rating and lowered their target price for the stock from $85.00 to $80.00 in a report on Monday, July 2nd. Finally, ValuEngine lowered Las Vegas Sands from a buy rating to a hold rating in a report on Monday, July 2nd. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Las Vegas Sands has an average rating of Hold and a consensus price target of $77.00.
Shares of NYSE LVS opened at $65.86 on Tuesday. Las Vegas Sands has a fifty-two week low of $59.16 and a fifty-two week high of $81.45. The company has a current ratio of 1.70, a quick ratio of 1.68 and a debt-to-equity ratio of 1.40. The stock has a market cap of $53.47 billion, a P/E ratio of 21.66 and a beta of 1.61.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Wednesday, September 19th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Tuesday, September 18th. Las Vegas Sands’s payout ratio is currently 98.68%.
In other news, COO Robert G. Goldstein bought 10,000 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were purchased at an average cost of $71.13 per share, with a total value of $711,300.00. Following the completion of the acquisition, the chief operating officer now directly owns 10,000 shares in the company, valued at $711,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.20% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Centaurus Financial Inc. purchased a new position in Las Vegas Sands in the 1st quarter worth about $117,000. Point72 Asia Hong Kong Ltd purchased a new position in Las Vegas Sands in the 1st quarter worth about $118,000. Flagship Harbor Advisors LLC purchased a new position in Las Vegas Sands in the 2nd quarter worth about $135,000. Synovus Financial Corp purchased a new position in Las Vegas Sands in the 1st quarter worth about $152,000. Finally, Parallel Advisors LLC increased its stake in Las Vegas Sands by 297.0% in the 1st quarter. Parallel Advisors LLC now owns 2,354 shares of the casino operator’s stock worth $169,000 after purchasing an additional 1,761 shares in the last quarter. 37.93% of the stock is currently owned by hedge funds and other institutional investors.
About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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