Las Vegas Sands (NYSE:LVS) Price Target Lowered to $59.00 at Barclays

Las Vegas Sands (NYSE:LVS) had its price objective lowered by investment analysts at Barclays from $60.00 to $59.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Barclays‘s price objective would suggest a potential upside of 26.18% from the company’s current price.

A number of other research firms have also recently weighed in on LVS. Mizuho lowered their price objective on Las Vegas Sands from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday. Jefferies Financial Group lowered their price objective on Las Vegas Sands from $54.00 to $53.00 and set a “hold” rating on the stock in a research report on Thursday. Wells Fargo & Company lowered their price objective on Las Vegas Sands from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup lifted their price objective on Las Vegas Sands from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday. Two 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 a consensus rating of “Moderate Buy” and an average target price of $65.60.

Las Vegas Sands Stock Performance

NYSE LVS traded down $3.47 during trading hours on Thursday, hitting $46.76. The company’s stock had a trading volume of 11,198,594 shares, compared to its average volume of 4,468,718. The company has a market cap of $35.13 billion, a P/E ratio of 29.24, a price-to-earnings-growth ratio of 0.81 and a beta of 1.16. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.31 and a quick ratio of 1.30. The company’s 50 day simple moving average is $52.37 and its two-hundred day simple moving average is $49.62. Las Vegas Sands has a 12 month low of $43.77 and a 12 month high of $65.58.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, April 17th. The casino operator reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.13. Las Vegas Sands had a return on equity of 34.40% and a net margin of 11.77%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, sell-side analysts expect that Las Vegas Sands will post 2.73 EPS for the current fiscal year.

Insider Activity

In other news, CEO Robert G. Goldstein sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was 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 of the company’s stock, valued at approximately $8,996,020.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Las Vegas Sands

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Las Vegas Sands by 13.1% during the 4th quarter. Vanguard Group Inc. now owns 36,898,186 shares of the casino operator’s stock valued at $1,815,760,000 after purchasing an additional 4,264,043 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Las Vegas Sands by 20.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,638,753 shares of the casino operator’s stock valued at $1,556,945,000 after purchasing an additional 5,439,735 shares during the last quarter. BlackRock Inc. boosted its holdings in Las Vegas Sands by 1.4% during the 1st quarter. BlackRock Inc. now owns 23,298,767 shares of the casino operator’s stock valued at $1,338,514,000 after acquiring an additional 330,221 shares during the period. State Street Corp boosted its holdings in Las Vegas Sands by 2.9% during the 1st quarter. State Street Corp now owns 13,898,679 shares of the casino operator’s stock valued at $540,242,000 after acquiring an additional 394,616 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Las Vegas Sands by 6.4% during the 4th quarter. Fisher Asset Management LLC now owns 11,275,127 shares of the casino operator’s stock valued at $554,849,000 after acquiring an additional 680,575 shares during the period. Institutional investors own 39.16% of the company’s stock.

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.