Citigroup Forecasts Strong Price Appreciation for Las Vegas Sands (NYSE:LVS) Stock

Las Vegas Sands (NYSE:LVS) had its target price raised by equities researchers at Citigroup from $76.75 to $78.50 in a research note issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the casino operator’s stock. Citigroup’s target price points to a potential upside of 41.34% from the stock’s previous close.

LVS has been the subject of a number of other research reports. Macquarie Infrastructure restated an “outperform” rating and issued a $70.00 price objective on shares of Las Vegas Sands in a research report on Thursday, January 29th. Morgan Stanley reiterated a “mixed” rating on shares of Las Vegas Sands in a research report on Wednesday, April 8th. Seaport Research Partners cut their target price on Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday, January 14th. The Goldman Sachs Group reduced their price target on Las Vegas Sands from $80.00 to $73.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Finally, Zacks Research downgraded Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Eleven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Las Vegas Sands currently has an average rating of “Moderate Buy” and a consensus target price of $68.03.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $55.54 on Monday. The stock has a market cap of $36.86 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.38 and a beta of 0.89. Las Vegas Sands has a twelve month low of $31.60 and a twelve month high of $70.45. The stock has a 50 day moving average of $55.18 and a two-hundred day moving average of $58.87. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, January 28th. The casino operator reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.08. Las Vegas Sands had a net margin of 12.50% and a return on equity of 91.40%. The company had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the firm posted $0.54 EPS. Las Vegas Sands’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, research analysts forecast that Las Vegas Sands will post 2.6 earnings per share for the current year.

Insider Activity

In other news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $54.75, for a total value of $3,294,033.75. Following the sale, the chief executive officer directly owned 511,942 shares in the company, valued at $28,028,824.50. This represents a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds and other institutional investors have recently modified their holdings of the company. Grove Bank & Trust purchased a new stake in shares of Las Vegas Sands in the fourth quarter valued at $26,000. International Assets Investment Management LLC purchased a new position in Las Vegas Sands during the fourth quarter worth about $26,000. Westside Investment Management Inc. lifted its position in Las Vegas Sands by 48.0% during the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock worth $28,000 after buying an additional 166 shares during the period. DV Equities LLC acquired a new stake in Las Vegas Sands in the 4th quarter worth about $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Las Vegas Sands in the 4th quarter worth about $29,000. 39.16% of the stock is currently 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.