Las Vegas Sands (NYSE:LVS) Shares Gap Up After Dividend Announcement

Las Vegas Sands Corp. (NYSE:LVS)’s share price gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $43.43, but opened at $47.50. Las Vegas Sands shares last traded at $47.56, with a volume of 2,077,564 shares trading hands.

The newly announced dividend which will be paid on Wednesday, February 19th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.07%. Las Vegas Sands’s dividend payout ratio is presently 40.61%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LVS. Macquarie increased their target price on Las Vegas Sands from $57.00 to $58.00 in a research note on Wednesday. Jefferies Financial Group raised Las Vegas Sands from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.00 to $69.00 in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Las Vegas Sands from $66.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday. Susquehanna raised their price target on Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their price objective on Las Vegas Sands from $64.50 to $67.00 and gave the company a “buy” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Las Vegas Sands has an average rating of “Moderate Buy” and an average price target of $59.58.

Las Vegas Sands Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 3.09. The firm has a market cap of $34.99 billion, a PE ratio of 23.89, a P/E/G ratio of 1.00 and a beta of 1.09. The firm has a 50-day moving average price of $49.94 and a two-hundred day moving average price of $46.70.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, January 29th. The casino operator reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. Research analysts forecast that Las Vegas Sands Corp. will post 2.36 EPS for the current fiscal year.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 60,187 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $53.02, for a total value of $3,191,114.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert G. Goldstein sold 24,324 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the completion of the sale, the chief executive officer now owns 60,187 shares of the company’s stock, valued at $3,129,724. This trade represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Las Vegas Sands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of Las Vegas Sands by 159.6% in the third quarter. Janus Henderson Group PLC now owns 9,130,486 shares of the casino operator’s stock worth $459,630,000 after acquiring an additional 5,612,975 shares during the last quarter. ARGA Investment Management LP lifted its holdings in Las Vegas Sands by 32.0% in the 4th quarter. ARGA Investment Management LP now owns 6,501,382 shares of the casino operator’s stock valued at $333,911,000 after purchasing an additional 1,577,042 shares in the last quarter. Suvretta Capital Management LLC acquired a new stake in shares of Las Vegas Sands during the 3rd quarter worth about $24,370,000. Bamco Inc. NY grew its holdings in shares of Las Vegas Sands by 29.2% during the third quarter. Bamco Inc. NY now owns 1,581,075 shares of the casino operator’s stock worth $79,591,000 after buying an additional 357,234 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Las Vegas Sands by 82.2% in the third quarter. Raymond James & Associates now owns 499,852 shares of the casino operator’s stock valued at $25,163,000 after buying an additional 225,510 shares during the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

About Las Vegas Sands

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.