What Does Las Vegas Sands (LVS) Special Dividend Say About Future Projects?
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Price: $45.55 --0%
Rating Summary:
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Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
Rating Summary:
27 Buy, 12 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 1
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Yesterday Las Vegas Sands (NYSE: LVS) pleased many investors by announcing a special dividend of $2.75. While this is seen as mostly positive for the stock, the new dividend does raise questions about Las Vegas Sands' plans for new projects in 2013.
Anticipating these concerns, Las Vegas Sands Chairman Sheldon Adelson told investors LVS will "be aggressive in identifying and targeting new development opportunities."
Commenting on the developments, analyst David Bain of Sterne Agee said the dividend should not be prohibitive to new projects, though it likely dampens expectations.
"To some extent, this may also be a positive as prospects for new projects in Japan, Korea and Taiwan have been muted of late, with only its less popular potential development in Spain lingering," said Bain.
The analyst also thinks the one-time dividend still leaves sufficient equity capital for its slated Parisian project in Macau.
Overall, the dividend is viewed as a onetime event in anticipation of expected tax policy changes next year.
Sterne Agee has a Buy rating on Las Vegas Sands (NYSE: LVS) with a price target of $52.00.
For an analyst ratings summary and ratings history on Las Vegas Sands click here. For more ratings news on Las Vegas Sands click here.
Shares of Las Vegas Sands closed at $44.03 yesterday.
Anticipating these concerns, Las Vegas Sands Chairman Sheldon Adelson told investors LVS will "be aggressive in identifying and targeting new development opportunities."
Commenting on the developments, analyst David Bain of Sterne Agee said the dividend should not be prohibitive to new projects, though it likely dampens expectations.
"To some extent, this may also be a positive as prospects for new projects in Japan, Korea and Taiwan have been muted of late, with only its less popular potential development in Spain lingering," said Bain.
The analyst also thinks the one-time dividend still leaves sufficient equity capital for its slated Parisian project in Macau.
Overall, the dividend is viewed as a onetime event in anticipation of expected tax policy changes next year.
Sterne Agee has a Buy rating on Las Vegas Sands (NYSE: LVS) with a price target of $52.00.
For an analyst ratings summary and ratings history on Las Vegas Sands click here. For more ratings news on Las Vegas Sands click here.
Shares of Las Vegas Sands closed at $44.03 yesterday.
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