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

Las Vegas Sands Corp. (NYSE:LVS)’s share price gapped up before the market opened on Thursday after the company announced a dividend. 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 changing hands.

The newly announced dividend which will be paid on Wednesday, February 19th. Investors of record on Monday, February 10th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.18%. This is a boost from Las Vegas Sands’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, February 10th. Las Vegas Sands’s payout ratio is presently 40.61%.

Analyst Ratings Changes

A number of equities analysts have weighed in on LVS shares. Jefferies Financial Group upgraded Las Vegas Sands from a “hold” rating to a “buy” rating and upped their target price for the stock from $60.00 to $69.00 in a research note on Friday, January 3rd. JPMorgan Chase & Co. dropped their target price on shares of Las Vegas Sands from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday. Mizuho increased their price target on shares of Las Vegas Sands from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. UBS Group lifted their price objective on shares of Las Vegas Sands from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Citigroup increased their target price on Las Vegas Sands from $64.50 to $67.00 and gave the company a “buy” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.58.

Las Vegas Sands Trading Down 4.9 %

The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.89 and a current ratio of 0.90. The firm has a 50-day moving average of $49.90 and a 200-day moving average of $46.71. The firm has a market capitalization of $33.28 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 1.00 and a beta of 1.09.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, January 29th. The casino operator reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). Las Vegas Sands had a net margin of 12.80% and a return on equity of 43.76%. On average, equities research analysts anticipate that Las Vegas Sands Corp. will post 2.76 EPS for the current fiscal year.

Insider Activity at Las Vegas Sands

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

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds have recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in shares of Las Vegas Sands by 3.6% during the 3rd quarter. Empowered Funds LLC now owns 6,050 shares of the casino operator’s stock valued at $305,000 after buying an additional 213 shares in the last quarter. Raymond James Trust N.A. lifted its position in Las Vegas Sands by 4.7% during the 3rd quarter. Raymond James Trust N.A. now owns 5,062 shares of the casino operator’s stock valued at $255,000 after acquiring an additional 229 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in Las Vegas Sands by 45.6% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 760 shares of the casino operator’s stock worth $39,000 after acquiring an additional 238 shares in the last quarter. GAMMA Investing LLC grew its holdings in Las Vegas Sands by 40.1% in the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock worth $43,000 after purchasing an additional 243 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Las Vegas Sands by 73.5% during the fourth quarter. UMB Bank n.a. now owns 583 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 247 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

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.