Seaport Global Securities Has Lowered Expectations for Las Vegas Sands (NYSE:LVS) Stock Price

Las Vegas Sands (NYSE:LVS) had its price target cut by research analysts at Seaport Global Securities from $75.00 to $72.00 in a research report issued on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Seaport Global Securities’ price target would indicate a potential upside of 19.04% from the company’s previous close.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group raised Las Vegas Sands from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $64.00 to $80.00 in a research note on Monday, December 15th. Wells Fargo & Company initiated coverage on shares of Las Vegas Sands in a research report on Tuesday, November 18th. They set an “equal weight” rating and a $66.00 target price for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $78.00 price target on shares of Las Vegas Sands in a research report on Wednesday, December 24th. Susquehanna raised their price objective on shares of Las Vegas Sands from $62.00 to $63.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Finally, Mizuho upped their target price on Las Vegas Sands from $56.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Las Vegas Sands currently has an average rating of “Moderate Buy” and a consensus price target of $68.52.

Las Vegas Sands Stock Performance

NYSE LVS opened at $60.49 on Wednesday. The stock has a market capitalization of $40.90 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.45 and a beta of 0.97. The business’s 50 day moving average is $65.33 and its two-hundred day moving average is $57.29. Las Vegas Sands has a 12-month low of $30.18 and a 12-month high of $70.45. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 7.42.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, beating the consensus estimate of $0.62 by $0.16. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The business’s revenue for the quarter was up 24.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.44 earnings per share. Research analysts expect that Las Vegas Sands will post 2.6 EPS for the current year.

Insider Buying and Selling at Las Vegas Sands

In other news, COO Patrick Dumont sold 135,603 shares of Las Vegas Sands stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $67.96, for a total value of $9,215,579.88. Following the completion of the transaction, the chief operating officer owned 446,608 shares in the company, valued at approximately $30,351,479.68. This trade represents a 23.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Goldstein sold 1,198,650 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total transaction of $79,925,982.00. The SEC filing for this sale provides additional information. Insiders sold a total of 5,182,053 shares of company stock worth $333,348,399 in the last 90 days. 1.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Las Vegas Sands

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Las Vegas Sands by 8.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,251 shares of the casino operator’s stock valued at $1,207,000 after acquiring an additional 2,418 shares during the last quarter. Woodline Partners LP grew its position in Las Vegas Sands by 38.9% during the 1st quarter. Woodline Partners LP now owns 29,032 shares of the casino operator’s stock worth $1,122,000 after purchasing an additional 8,132 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Las Vegas Sands by 27.4% in the second quarter. Parallel Advisors LLC now owns 2,272 shares of the casino operator’s stock valued at $99,000 after purchasing an additional 488 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Las Vegas Sands by 37.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock valued at $38,000 after buying an additional 239 shares in the last quarter. Finally, Czech National Bank grew its holdings in shares of Las Vegas Sands by 5.0% during the 2nd quarter. Czech National Bank now owns 82,905 shares of the casino operator’s stock valued at $3,607,000 after acquiring an additional 3,977 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors and hedge funds.

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.