Las Vegas Sands (NYSE:LVS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, December 26th. The firm currently has a $79.00 price target on the casino operator’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.24% from the company’s current price.
According to Zacks, “Las Vegas Sands is currently benefiting from strong gaming performance along with higher hotel occupancy and retail mall revenues. The company is positive on the prospects of The Parisian Macao and expects it to deliver continued growth in the long haul. In fact, the company’s planned investment of over $1.1 billion in new capital projects in Macao over the next three years, given the continual revival of gaming revenues therein, also bodes well for long-term growth. High occupancy rates at the Las Vegas properties are likely to further drive growth. However, fears of another corruption crackdown by the authorities, intense competition and high debt burden raise concern. Its shares have also underperformed the industry on an year to date basis.”
Several other equities research analysts also recently issued reports on LVS. Deutsche Bank increased their price objective on Las Vegas Sands from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Roth Capital assumed coverage on Las Vegas Sands in a research report on Wednesday, October 25th. They issued a “buy” rating and a $69.00 target price on the stock. Nomura upped their target price on Las Vegas Sands from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Gabelli upped their target price on Las Vegas Sands from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Finally, Morgan Stanley raised Las Vegas Sands from an “equal weight” rating to an “overweight” rating and set a $65.00 price objective on the stock in a report on Monday, November 6th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $66.19.
Shares of Las Vegas Sands (NYSE:LVS) opened at $71.02 on Tuesday. Las Vegas Sands has a fifty-two week low of $51.35 and a fifty-two week high of $72.20. The company has a market capitalization of $56,140.00, a price-to-earnings ratio of 26.80 and a beta of 1.80. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 1.38.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 25th. The casino operator reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.10. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.14 billion. Las Vegas Sands had a return on equity of 31.11% and a net margin of 16.80%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. sell-side analysts anticipate that Las Vegas Sands will post 2.9 EPS for the current year.
In other news, Director George Jamieson acquired 1,000 shares of Las Vegas Sands stock in a transaction on Tuesday, November 14th. The stock was bought at an average price of $66.96 per share, for a total transaction of $66,960.00. Following the transaction, the director now owns 6,488 shares of the company’s stock, valued at $434,436.48. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 10.10% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. Atalanta Sosnoff Capital LLC lifted its position in shares of Las Vegas Sands by 55.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 12,860 shares of the casino operator’s stock worth $894,000 after buying an additional 4,600 shares during the period. Atlantic Trust Group LLC bought a new position in shares of Las Vegas Sands during the 3rd quarter worth approximately $4,975,000. Parametric Portfolio Associates LLC lifted its position in shares of Las Vegas Sands by 4.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 543,142 shares of the casino operator’s stock worth $34,848,000 after buying an additional 20,683 shares during the period. AXA lifted its position in shares of Las Vegas Sands by 3.9% during the 3rd quarter. AXA now owns 107,969 shares of the casino operator’s stock worth $6,927,000 after buying an additional 4,067 shares during the period. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Las Vegas Sands during the 3rd quarter worth approximately $198,000. Institutional investors and hedge funds own 37.37% of the company’s stock.
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About Las Vegas Sands
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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