Brokers Issue Forecasts for Las Vegas Sands FY2024 Earnings

Las Vegas Sands Corp. (NYSE:LVS) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for Las Vegas Sands in a research note issued to investors on Thursday, October 24th. Seaport Res Ptn analyst V. Umansky now forecasts that the casino operator will post earnings per share of $2.39 for the year, down from their prior estimate 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.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 23rd. The casino operator reported $0.44 EPS 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 company 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 business earned $0.55 earnings per share. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year.

Several other analysts also recently weighed in on LVS. Stifel Nicolaus boosted their price target on Las Vegas Sands from $55.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their price objective on shares of Las Vegas Sands from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. StockNews.com cut shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Susquehanna upped their price target on shares of Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Finally, Macquarie reduced their price objective on Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Las Vegas Sands presently has an average rating of “Moderate Buy” and an average price target of $57.92.

Las Vegas Sands Trading Up 2.8 %

NYSE LVS opened at $52.47 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 3.29. The company has a fifty day simple moving average of $44.94 and a two-hundred day simple moving average of $44.40. Las Vegas Sands has a 12-month low of $36.62 and a 12-month high of $55.65. The stock has a market cap of $39.09 billion, a P/E ratio of 25.35, a P/E/G ratio of 1.48 and a beta of 1.12.

Las Vegas Sands Announces Dividend

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

Hedge Funds Weigh In On Las Vegas Sands

Several hedge funds and other institutional investors have recently made changes to their positions in LVS. Park Avenue Securities LLC raised its stake in Las Vegas Sands by 40.2% in the 1st quarter. Park Avenue Securities LLC now owns 17,360 shares of the casino operator’s stock valued at $898,000 after purchasing an additional 4,981 shares during the last quarter. Hengehold Capital Management LLC purchased a new position in shares of Las Vegas Sands in the first quarter worth about $217,000. Fifth Third Wealth Advisors LLC boosted its position in Las Vegas Sands by 9.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 16,075 shares of the casino operator’s stock worth $831,000 after acquiring an additional 1,408 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Las Vegas Sands by 1.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 837,030 shares of the casino operator’s stock valued at $43,274,000 after acquiring an additional 14,723 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in Las Vegas Sands in the 1st quarter valued at about $928,000. Hedge funds and other institutional investors 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.