Las Vegas Sands (NYSE:LVS – Get Free Report) had its target price reduced by investment analysts at Morgan Stanley from $68.00 to $61.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the casino operator’s stock. Morgan Stanley’s target price would suggest a potential upside of 28.22% from the company’s previous close.
LVS has been the subject of several other reports. Barclays cut their price target on shares of Las Vegas Sands from $63.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday. Seaport Research Partners lowered their price objective on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Bank of America dropped their target price on Las Vegas Sands from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Wells Fargo & Company cut their target price on Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.88.
View Our Latest Research Report on LVS
Las Vegas Sands Stock Performance
Las Vegas Sands (NYSE:LVS – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 117.08% and a net margin of 12.59%.The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts expect that Las Vegas Sands will post 3.21 EPS for the current year.
Hedge Funds Weigh In On Las Vegas Sands
Several hedge funds have recently bought and sold shares of LVS. Mackenzie Financial Corp boosted its position in Las Vegas Sands by 0.3% during the third quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator’s stock worth $2,902,000 after purchasing an additional 156 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Las Vegas Sands by 7.8% in the 3rd quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator’s stock worth $132,000 after buying an additional 177 shares in the last quarter. &PARTNERS boosted its position in shares of Las Vegas Sands by 3.2% in the 4th quarter. &PARTNERS now owns 6,930 shares of the casino operator’s stock worth $453,000 after buying an additional 214 shares in the last quarter. United Capital Financial Advisors LLC grew its stake in Las Vegas Sands by 5.5% in the 3rd quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator’s stock valued at $266,000 after acquiring an additional 258 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Las Vegas Sands by 4.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 6,859 shares of the casino operator’s stock valued at $446,000 after acquiring an additional 279 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.
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.
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