On September 3, 2023, it was reported that Mizuho Markets Americas LLC decreased its position in Las Vegas Sands Corp. (NYSE: LVS) by 47.5% during the first quarter of the year. According to the most recent filing with the Securities and Exchange Commission (SEC), Mizuho Markets Americas LLC owned 114,310 shares of the casino operator’s stock after selling 103,400 shares. This reduction in holdings resulted in a value of $6,567,000 for Mizuho Markets Americas LLC’s stake in Las Vegas Sands.
Las Vegas Sands released its earnings results on July 19th, revealing an earnings per share (EPS) of $0.46 for the quarter. This surpassed analysts’ consensus estimates of $0.44 by $0.02. The company generated revenue amounting to $2.54 billion during this period, surpassing analyst estimates of $2.41 billion.
The return on equity for Las Vegas Sands stood at 5.73%, while the net margin was measured at 0.75%. These financial indicators reflect the profitability and efficiency of the company’s operations during the quarter. Furthermore, there was a significant increase in revenue for Las Vegas Sands compared to the previous year, with a growth rate of 143.3% on a year-over-year basis.
In comparison to the same quarter of the prior year when Las Vegas Sands recorded earnings per share of ($0.34), these recent positive financial results indicate a significant turnaround for the business.
Looking ahead, research analysts are forecasting that Las Vegas Sands Corp. will post earnings per share of 1.87 for the current fiscal year.
Investors and market observers may find these latest developments interesting as they evaluate their investment strategies and assess potential opportunities within the gaming industry and specifically within Las Vegas Sands Corporation’s stock (NYSE: LVS). It is important to keep track of financial reports and monitor how various market participants, such as Mizuho Markets Americas LLC, adjust their positions in response to the company’s performance.
Market analysis and understanding the factors that affect a company’s financial standing are crucial for both institutional and individual investors looking to make informed decisions. By staying informed about developments in the stock market, investors can navigate potential risks and seek out opportunities that align with their investment goals.
Shareholder Changes and Analyst Reports Shape Las Vegas Sands’ Future in the Casino Industry
Las Vegas Sands Corp., a renowned casino operator, has seen recent changes in its shareholder positions as several hedge funds made adjustments. Vanguard Group Inc., one of the largest investment management companies, increased its stake in Las Vegas Sands by 1.5% during the first quarter of the year. The company now owns over 35 million shares of the casino operator’s stock, valued at approximately $1.38 billion.
Price T Rowe Associates Inc. MD also raised its stake in Las Vegas Sands by 4.8% in the fourth quarter, now owning more than 33 million shares worth around $1.6 billion. State Street Corp followed suit, increasing its stake by 2.9% to nearly 14 million shares worth over $540 million.
One notable change came from Fisher Asset Management LLC, which saw its stake soar by a staggering 5,139.8% during the first quarter. The company now owns over 9 million shares valued at $530 million.
Furthermore, Barrow Hanley Mewhinney & Strauss LLC increased its stake in Las Vegas Sands by 8.8% during the previous quarter to own nearly 9.2 million shares valued at $439 million.
In total, hedge funds and other institutional investors currently hold around 39.16% of Las Vegas Sands’ stock.
Despite these changes in shareholder positions, shares of Las Vegas Sands traded down slightly on Friday at $54.72 with a trading volume of approximately 2.4 million shares compared to an average volume of about 4.5 million shares.
The market capitalization of Las Vegas Sands currently stands at roughly $41.83 billion with a P/E ratio of 783:71 and a P/E/G ratio of 5:78, indicating potentially higher future growth prospects for the company.
The stock’s moving averages show that it was trading around $56.85 for the past fifty days and $57.71 for the past two hundred days. Las Vegas Sands’ 12-month range lies between $33.38 and $65.58.
Las Vegas Sands recently announced a quarterly dividend, which was paid on August 16th to stockholders of record as of August 8th. The dividend payout amounted to $0.20 per share, resulting in an annualized yield of 1.46%.
Analysts have closely followed Las Vegas Sands’ performance and several reports have been published assessing the company’s prospects. StockNews.com initiated coverage on Las Vegas Sands with a “hold” rating on August 17th. Meanwhile, analysts at Argus lowered their target price for the company from $72.00 to $68.00 in a report released on July 21st.
Barclays also reduced its target price to $69.00 from $70.00, while Stifel Nicolaus raised its target price to $78.00 from $73.00 and gave the stock a “buy” rating, both reports being published also on July 20th.
Finally, Morgan Stanley downgraded its target price from $71.00 to $70.00 but maintained an “overweight” rating on the stock in a report issued on the same day.
Out of fifteen investment analysts covering Las Vegas Sands, three rated it as a hold while twelve recommended buying shares in the company.
According to data compiled by Bloomberg, Las Vegas Sands currently has an average rating of “Moderate Buy” with a consensus price target of approximately $70.81.
As we enter September 2023, it remains uncertain how these recent changes in shareholder positions and analyst reports will impact Las Vegas Sands’ future performance and direction in the highly competitive casino industry.