Seaport Res Ptn Expects Reduced Earnings for Las Vegas Sands

Las Vegas Sands Corp. (NYSE:LVS) – Seaport Res Ptn lowered their FY2024 earnings estimates for Las Vegas Sands in a research note issued on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now anticipates that the casino operator will post earnings per share of $2.34 for the year, down from their prior forecast of $2.39. The consensus estimate for Las Vegas Sands’ current full-year earnings is $2.36 per share. Seaport Res Ptn also issued estimates for Las Vegas Sands’ Q4 2024 earnings at $0.57 EPS, Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.63 EPS, Q3 2025 earnings at $0.71 EPS, Q4 2025 earnings at $0.79 EPS, FY2025 earnings at $2.80 EPS, FY2026 earnings at $3.36 EPS and FY2027 earnings at $3.75 EPS.

Several other research firms have also recently issued reports on LVS. JPMorgan Chase & Co. increased their price objective on Las Vegas Sands from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Jefferies Financial Group raised Las Vegas Sands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $60.00 to $69.00 in a report on Friday, January 3rd. UBS Group upped their target price on Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Susquehanna lifted their price target on Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $51.00 price objective (down from $54.00) on shares of Las Vegas Sands in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.92.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $43.45 on Tuesday. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 3.09. Las Vegas Sands has a 12-month low of $36.62 and a 12-month high of $56.60. The company has a market cap of $31.50 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 1.00 and a beta of 1.09. The stock has a 50 day simple moving average of $50.30 and a 200-day simple moving average of $46.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LVS. Public Sector Pension Investment Board increased its stake in Las Vegas Sands by 80.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 13,067 shares of the casino operator’s stock worth $578,000 after buying an additional 5,818 shares during the period. APG Asset Management N.V. grew its stake in Las Vegas Sands by 195.9% in the second quarter. APG Asset Management N.V. now owns 51,355 shares of the casino operator’s stock worth $2,120,000 after purchasing an additional 34,000 shares in the last quarter. MBB Public Markets I LLC acquired a new stake in Las Vegas Sands during the second quarter valued at approximately $1,092,000. Mackenzie Financial Corp boosted its holdings in Las Vegas Sands by 7.1% in the second quarter. Mackenzie Financial Corp now owns 74,587 shares of the casino operator’s stock worth $3,300,000 after purchasing an additional 4,968 shares during the period. Finally, Creative Planning raised its stake in Las Vegas Sands by 2.7% during the second quarter. Creative Planning now owns 83,838 shares of the casino operator’s stock worth $3,710,000 after acquiring an additional 2,242 shares during the period. Institutional investors and hedge funds own 39.16% of the company’s stock.

Insider Activity at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 24,324 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the completion of the sale, the chief executive officer now owns 60,187 shares in the company, valued at approximately $3,129,724. The trade was a 28.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert G. Goldstein sold 60,187 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $53.02, for a total value of $3,191,114.74. The disclosure for this sale can be found here. Insiders own 0.91% 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.