Seaport Res Ptn Predicts Las Vegas Sands FY2024 Earnings

Las Vegas Sands Corp. (NYSE:LVS) – Investment analysts at Seaport Res Ptn reduced their FY2024 earnings per share (EPS) estimates for shares of Las Vegas Sands in a note issued to investors on Thursday, October 24th. Seaport Res Ptn analyst V. Umansky now expects that the casino operator will post earnings of $2.39 per share for the year, down from their previous forecast of $2.50. The consensus estimate for Las Vegas Sands’ current full-year earnings is $2.45 per share. Seaport Res Ptn also issued estimates for Las Vegas Sands’ Q4 2024 earnings at $0.63 EPS and FY2025 earnings at $2.89 EPS.

Several other analysts also recently commented on the company. Jefferies Financial Group reduced their price objective on Las Vegas Sands from $53.00 to $47.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Las Vegas Sands from $61.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. StockNews.com downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Morgan Stanley increased their target price on Las Vegas Sands from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Mizuho increased their target price on Las Vegas Sands from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.92.

Las Vegas Sands Stock Up 0.6 %

LVS opened at $52.76 on Friday. The business has a 50 day moving average price of $45.18 and a two-hundred day moving average price of $44.45. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 3.29. The company has a market cap of $39.31 billion, a PE ratio of 25.49, a P/E/G ratio of 1.49 and a beta of 1.12. Las Vegas Sands has a 52 week low of $36.62 and a 52 week high of $55.65.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.09). Las Vegas Sands had a net margin of 14.08% and a return on equity of 44.41%. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis.

Las Vegas Sands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Tuesday, November 5th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, November 5th. Las Vegas Sands’s dividend payout ratio (DPR) is 38.65%.

Institutional Trading of Las Vegas Sands

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Las Vegas Sands by 0.6% in the first quarter. Vanguard Group Inc. now owns 37,107,775 shares of the casino operator’s stock worth $1,918,472,000 after buying an additional 209,589 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Las Vegas Sands by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,170,552 shares of the casino operator’s stock worth $1,663,219,000 after purchasing an additional 531,799 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Las Vegas Sands by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,351,573 shares of the casino operator’s stock worth $502,307,000 after buying an additional 1,536,754 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Las Vegas Sands by 0.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,500,248 shares of the casino operator’s stock valued at $376,136,000 after acquiring an additional 68,568 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Las Vegas Sands by 987.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,549,615 shares of the casino operator’s stock valued at $245,570,000 after purchasing an additional 5,039,072 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

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.