Las Vegas Sands (NYSE:LVS) Price Target Cut to $59.00

Las Vegas Sands (NYSE:LVS) had its target price reduced by stock analysts at Barclays from $60.00 to $59.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price points to a potential upside of 29.78% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company reduced their price target on shares of Las Vegas Sands from $62.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday. Mizuho reduced their price target on shares of Las Vegas Sands from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup upped their price target on shares of Las Vegas Sands from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Morgan Stanley upped their price target on shares of Las Vegas Sands from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.47.

Las Vegas Sands Trading Down 0.9 %

Shares of NYSE:LVS opened at $45.46 on Thursday. The stock has a market capitalization of $34.15 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 0.82 and a beta of 1.16. Las Vegas Sands has a 1-year low of $43.77 and a 1-year high of $65.58. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.30 and a current ratio of 1.31. The company has a 50 day moving average price of $52.06 and a 200 day moving average price of $49.59.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. The business had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.94 billion. Las Vegas Sands had a net margin of 13.99% and a return on equity of 41.81%. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, research analysts anticipate that Las Vegas Sands will post 2.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert G. Goldstein sold 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $52.06, for a total transaction of $5,206,000.00. Following the transaction, the chief executive officer now owns 172,801 shares in the company, valued at approximately $8,996,020.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System grew its stake in Las Vegas Sands by 4.9% in the 3rd quarter. California Public Employees Retirement System now owns 652,220 shares of the casino operator’s stock valued at $29,898,000 after buying an additional 30,500 shares during the last quarter. Nordea Investment Management AB grew its stake in Las Vegas Sands by 182.9% in the 4th quarter. Nordea Investment Management AB now owns 698,686 shares of the casino operator’s stock valued at $34,264,000 after buying an additional 451,710 shares during the last quarter. DNB Asset Management AS grew its stake in Las Vegas Sands by 50.4% in the 4th quarter. DNB Asset Management AS now owns 672,905 shares of the casino operator’s stock valued at $33,114,000 after buying an additional 225,351 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in Las Vegas Sands by 15.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,195 shares of the casino operator’s stock valued at $467,000 after buying an additional 1,379 shares during the last quarter. Finally, AM Squared Ltd acquired a new position in Las Vegas Sands in the 4th quarter valued at $3,076,000. 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.