Las Vegas Sands (NYSE:LVS) Price Target Lowered to $58.00 at Susquehanna

Las Vegas Sands (NYSE:LVS) had its price target cut by Susquehanna from $59.00 to $58.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “positive” rating on the casino operator’s stock. Susquehanna’s price objective indicates a potential upside of 19.50% from the stock’s current price.

LVS has been the topic of several other reports. Stifel Nicolaus set a $57.00 price objective on shares of Las Vegas Sands and gave the stock a “buy” rating in a report on Thursday, April 24th. Hsbc Global Res upgraded shares of Las Vegas Sands to a “strong-buy” rating in a report on Thursday, April 24th. Citigroup restated a “buy” rating on shares of Las Vegas Sands in a report on Wednesday, July 9th. The Goldman Sachs Group assumed coverage on shares of Las Vegas Sands in a report on Monday, July 7th. They issued a “neutral” rating and a $52.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of Las Vegas Sands from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.54.

Las Vegas Sands Price Performance

NYSE LVS traded down $0.14 during trading hours on Monday, reaching $48.54. The company’s stock had a trading volume of 581,045 shares, compared to its average volume of 5,743,951. The stock has a market cap of $34.30 billion, a PE ratio of 26.97, a PEG ratio of 2.45 and a beta of 1.03. Las Vegas Sands has a fifty-two week low of $30.18 and a fifty-two week high of $56.60. The company’s 50-day moving average is $43.73 and its two-hundred day moving average is $42.04. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.59 and a current ratio of 0.59.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, April 23rd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.95 billion. Las Vegas Sands had a return on equity of 44.91% and a net margin of 11.64%. Las Vegas Sands’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 earnings per share. Analysts forecast that Las Vegas Sands will post 2.6 EPS for the current year.

Las Vegas Sands declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 23rd that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the casino operator to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Las Vegas Sands

A number of hedge funds and other institutional investors have recently modified their holdings of LVS. Envestnet Portfolio Solutions Inc. raised its position in Las Vegas Sands by 10.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,023 shares of the casino operator’s stock worth $258,000 after acquiring an additional 474 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Las Vegas Sands in the fourth quarter worth about $56,000. Mizuho Securities USA LLC raised its position in Las Vegas Sands by 43.9% in the fourth quarter. Mizuho Securities USA LLC now owns 32,984 shares of the casino operator’s stock worth $1,694,000 after acquiring an additional 10,063 shares in the last quarter. American Century Companies Inc. raised its position in Las Vegas Sands by 36.5% in the fourth quarter. American Century Companies Inc. now owns 335,010 shares of the casino operator’s stock worth $17,206,000 after acquiring an additional 89,508 shares in the last quarter. Finally, Samalin Investment Counsel LLC raised its position in Las Vegas Sands by 6.9% in the fourth quarter. Samalin Investment Counsel LLC now owns 4,343 shares of the casino operator’s stock worth $223,000 after acquiring an additional 281 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Company Profile

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People’s Republic of China; and Marina Bay Sands in Singapore.