Las Vegas Sands (NYSE:LVS) Price Target Cut to $60.00 by Analysts at Bank of America

Las Vegas Sands (NYSE:LVS) had its price target lowered by Bank of America from $70.00 to $60.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a neutral rating on the casino operator’s stock.

Other analysts also recently issued reports about the company. Citigroup decreased their price objective on Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating for the company in a report on Friday, July 10th. Weiss Ratings cut shares of Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Seaport Research Partners cut their target price on shares of Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Morgan Stanley boosted their price target on shares of Las Vegas Sands from $67.00 to $69.00 and gave the company an “equal weight” rating in a report on Thursday, April 23rd. Finally, Mizuho upped their price target on shares of Las Vegas Sands from $65.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $65.31.

Las Vegas Sands Trading Up 1.0%

LVS opened at $45.80 on Monday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64. The stock’s fifty day moving average is $48.68 and its two-hundred day moving average is $53.68. The company has a market capitalization of $30.35 billion, a P/E ratio of 16.96, a PEG ratio of 1.03 and a beta of 0.83. Las Vegas Sands has a 52 week low of $44.22 and a 52 week high of $70.45.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.15. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.32 billion. During the same period in the prior year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. Analysts forecast that Las Vegas Sands will post 3.37 earnings per share for the current year.

Institutional Investors Weigh In On Las Vegas Sands

A number of hedge funds have recently made changes to their positions in the stock. Grove Bank & Trust purchased a new position in Las Vegas Sands in the fourth quarter valued at about $26,000. International Assets Investment Management LLC bought a new position in Las Vegas Sands in the fourth quarter worth about $26,000. DV Equities LLC purchased a new stake in shares of Las Vegas Sands during the fourth quarter valued at about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Las Vegas Sands during the fourth quarter valued at about $29,000. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Las Vegas Sands by 254.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after buying an additional 400 shares in the last quarter. 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.