Key Points
- CEO Patrick Dumont sold $3,294,033.75 worth of stock — 60,165 shares at an average $54.75 — trimming his position by 10.52% to 511,942 shares (≈$28.03M).
- Quarterly results beat expectations: Las Vegas Sands reported $0.85 EPS vs. $0.77 expected and $3.65B in revenue (vs. $3.33B), with revenue up 26% year-over-year.
- Dividend increased: the company raised its quarterly payout to $0.30 ($1.20 annualized), implying a ~2.2% yield and a payout ratio near 51%.
Las Vegas Sands Corp. (NYSE:LVS - Get Free Report) CEO Patrick Dumont sold 60,165 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the transaction, the chief executive officer owned 511,942 shares in the company, valued at approximately $28,028,824.50. This trade represents a 10.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Las Vegas Sands Stock Up 0.4%
LVS stock opened at $54.13 on Friday. The firm has a market cap of $36.37 billion, a PE ratio of 23.13, a PEG ratio of 1.38 and a beta of 0.88. Las Vegas Sands Corp. has a 1 year low of $30.18 and a 1 year high of $70.45. The company has a fifty day simple moving average of $56.88 and a 200 day simple moving average of $58.82. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58.
Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The casino operator reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.08. The company had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.33 billion. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.The business's quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Sell-side analysts anticipate that Las Vegas Sands Corp. will post 2.6 EPS for the current fiscal year.
Las Vegas Sands Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Monday, February 9th were given a $0.30 dividend. This is a positive change from Las Vegas Sands's previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, February 9th. Las Vegas Sands's payout ratio is 51.28%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. Mackenzie Financial Corp increased its stake in Las Vegas Sands by 0.3% during the third quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock valued at $2,902,000 after acquiring an additional 156 shares during the period. Westside Investment Management Inc. grew its holdings in shares of Las Vegas Sands by 48.0% during the 3rd quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock worth $28,000 after purchasing an additional 166 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Las Vegas Sands by 7.8% during the third quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock valued at $132,000 after purchasing an additional 177 shares during the period. Alps Advisors Inc. raised its stake in shares of Las Vegas Sands by 2.4% in the third quarter. Alps Advisors Inc. now owns 8,528 shares of the casino operator's stock valued at $459,000 after purchasing an additional 197 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in Las Vegas Sands by 0.3% in the second quarter. Horizon Kinetics Asset Management LLC now owns 61,993 shares of the casino operator's stock worth $2,697,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 39.16% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on LVS shares. Jefferies Financial Group dropped their target price on shares of Las Vegas Sands from $78.00 to $72.00 and set a "buy" rating on the stock in a report on Friday, January 30th. The Goldman Sachs Group cut their price objective on Las Vegas Sands from $80.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, January 29th. Wall Street Zen downgraded Las Vegas Sands from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 14th. JPMorgan Chase & Co. raised their target price on Las Vegas Sands from $70.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, January 23rd. Finally, UBS Group lifted their price target on Las Vegas Sands from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Monday, December 8th. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.55.
Get Our Latest Report on LVS
Las Vegas Sands Company Profile
(
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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.
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