Bank of America Lowers Las Vegas Sands (NYSE:LVS) Price Target to $60.00

Las Vegas Sands (NYSE:LVS) had its price target reduced by Bank of America from $70.00 to $60.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the casino operator’s stock. Bank of America‘s target price suggests a potential upside of 32.08% from the stock’s current price.

A number of other brokerages have also issued reports on LVS. Mizuho boosted their target price on Las Vegas Sands from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group decreased their price target on Las Vegas Sands from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, July 15th. Stifel Nicolaus lifted their price target on Las Vegas Sands from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Barclays cut their price objective on Las Vegas Sands from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Finally, Citigroup reduced their price objective on shares of Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Las Vegas Sands presently has an average rating of “Moderate Buy” and a consensus price target of $65.31.

Las Vegas Sands Trading Down 0.8%

Las Vegas Sands stock opened at $45.43 on Monday. The firm has a market cap of $30.10 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.83. Las Vegas Sands has a 1 year low of $44.22 and a 1 year high of $70.45. The firm’s 50 day moving average price is $48.55 and its two-hundred day moving average price is $53.54. The company has a debt-to-equity ratio of 8.64, a quick ratio of 0.91 and a current ratio of 0.92.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.32 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The company’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. On average, research analysts predict that Las Vegas Sands will post 3.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Las Vegas Sands by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock worth $1,207,000 after acquiring an additional 2,418 shares during the last quarter. Woodline Partners LP boosted its position in Las Vegas Sands by 38.9% during the first quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock valued at $1,122,000 after purchasing an additional 8,132 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Las Vegas Sands by 91.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,146 shares of the casino operator’s stock valued at $93,000 after purchasing an additional 1,027 shares during the last quarter. Flow Traders U.S. LLC purchased a new position in Las Vegas Sands in the second quarter valued at about $414,000. Finally, Cerity Partners LLC grew its stake in Las Vegas Sands by 70.0% in the second quarter. Cerity Partners LLC now owns 17,595 shares of the casino operator’s stock valued at $766,000 after purchasing an additional 7,243 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

Las Vegas Sands Company Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.