Las Vegas Sands (NYSE:LVS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, January 17th. The firm presently has a $80.00 target price on the casino operator’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.68% from the stock’s current price.
According to Zacks, “Las Vegas Sands’ consistent efforts to boost tourism and traffic in Macao are yielding results. Focus on diversification and growth in the mass and non-gaming market also bode well and should aid margins. Going forward, it is particularly positive on the prospects of The Parisian Macao and expects it to deliver continued growth. The company’s planned investment of more than $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. Moreover, Las Vegas Sands’ shares have outperformed the industry in the past six months. However, fears of another corruption crackdown by the authorities may hamper the company’s performance. Even so, upward estimate revisions raise optimism. High occupancy rates at the Las Vegas properties are likely to drive growth.”
Several other analysts have also recently commented on LVS. Roth Capital started coverage on shares of Las Vegas Sands in a research note on Wednesday, October 25th. They issued a “buy” rating and a $69.00 price objective for the company. Morgan Stanley raised their price objective on shares of Las Vegas Sands from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Deutsche Bank raised their price objective on shares of Las Vegas Sands from $54.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Gabelli raised their price objective on shares of Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Nomura lifted their target price on shares of Las Vegas Sands from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $70.54.
Shares of Las Vegas Sands (LVS) traded up $0.01 during midday trading on Wednesday, hitting $71.00. 6,185,109 shares of the company traded hands, compared to its average volume of 4,580,000. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.07 and a quick ratio of 1.05. Las Vegas Sands has a 12-month low of $51.35 and a 12-month high of $79.84. The firm has a market capitalization of $56,120.00, a PE ratio of 20.06 and a beta of 1.72.
Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, January 24th. The casino operator reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.11. Las Vegas Sands had a net margin of 21.78% and a return on equity of 34.76%. The firm had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. research analysts forecast that Las Vegas Sands will post 3.33 earnings per share for the current fiscal year.
In other Las Vegas Sands news, Director George Jamieson bought 1,000 shares of the business’s 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 completion of the transaction, the director now owns 6,488 shares in the company, valued at approximately $434,436.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of LVS. Martingale Asset Management L P purchased a new stake in shares of Las Vegas Sands during the second quarter worth about $1,407,000. Stephens Inc. AR grew its holdings in shares of Las Vegas Sands by 0.7% during the second quarter. Stephens Inc. AR now owns 4,389 shares of the casino operator’s stock worth $280,000 after buying an additional 31 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Las Vegas Sands by 45.5% during the second quarter. Teachers Advisors LLC now owns 510,864 shares of the casino operator’s stock worth $32,639,000 after buying an additional 159,791 shares in the last quarter. Profund Advisors LLC grew its holdings in shares of Las Vegas Sands by 40.6% during the second quarter. Profund Advisors LLC now owns 7,995 shares of the casino operator’s stock worth $511,000 after buying an additional 2,307 shares in the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Las Vegas Sands during the second quarter worth about $20,519,000. Institutional investors and hedge funds own 37.24% 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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