PNC Financial Services Group Inc. Increases Stake in Las Vegas Sands Corp. (NYSE:LVS)

PNC Financial Services Group Inc. lifted its stake in Las Vegas Sands Corp. (NYSE:LVS) by 45.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 39,726 shares of the casino operator’s stock after acquiring an additional 12,378 shares during the period. PNC Financial Services Group Inc.’s holdings in Las Vegas Sands were worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LVS. Delos Wealth Advisors LLC purchased a new position in Las Vegas Sands during the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC raised its position in Las Vegas Sands by 150.4% during the 4th quarter. Venturi Wealth Management LLC now owns 681 shares of the casino operator’s stock worth $34,000 after buying an additional 409 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Las Vegas Sands during the 4th quarter worth approximately $39,000. Accent Capital Management LLC purchased a new position in Las Vegas Sands during the 4th quarter worth approximately $39,000. Finally, Vestor Capital LLC purchased a new position in Las Vegas Sands during the 4th quarter worth approximately $42,000. 39.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LVS shares. Citigroup raised their price target on shares of Las Vegas Sands from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Stifel Nicolaus reduced their price target on shares of Las Vegas Sands from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Jefferies Financial Group reduced their price target on shares of Las Vegas Sands from $54.00 to $53.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. StockNews.com raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Finally, Barclays dropped their price objective on shares of Las Vegas Sands from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Friday, June 7th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Las Vegas Sands has a consensus rating of “Moderate Buy” and an average target price of $63.31.

Las Vegas Sands Price Performance

Las Vegas Sands stock opened at $45.91 on Friday. The company’s fifty day moving average price is $45.66 and its 200 day moving average price is $49.03. Las Vegas Sands Corp. has a 1 year low of $42.99 and a 1 year high of $61.25. The stock has a market capitalization of $34.21 billion, a P/E ratio of 22.18, a P/E/G ratio of 0.81 and a beta of 1.13. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.29 and a current ratio of 1.30.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.13. Las Vegas Sands had a net margin of 13.99% and a return on equity of 42.34%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the company earned $0.28 EPS. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Las Vegas Sands Corp. will post 2.63 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.80 dividend on an annualized basis and a yield of 1.74%. Las Vegas Sands’s dividend payout ratio is currently 38.65%.

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.