Las Vegas Sands (NYSE:LVS) Given New $61.00 Price Target at Morgan Stanley

Las Vegas Sands (NYSE:LVS) had its price objective reduced by analysts at Morgan Stanley from $68.00 to $61.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the casino operator’s stock. Morgan Stanley’s target price suggests a potential upside of 28.22% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Stifel Nicolaus reduced their price objective on shares of Las Vegas Sands from $74.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday. Susquehanna decreased their target price on shares of Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating on the stock in a research report on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on shares of Las Vegas Sands from $61.00 to $63.00 and gave the stock a “hold” rating in a research note on Thursday, April 23rd. Finally, Seaport Research Partners cut their price target on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Eleven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.88.

Las Vegas Sands Price Performance

Shares of NYSE:LVS traded up $1.49 on Monday, hitting $47.57. The company had a trading volume of 2,112,130 shares, compared to its average volume of 4,888,792. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64. Las Vegas Sands has a 52-week low of $44.21 and a 52-week high of $70.45. The business has a 50 day moving average of $48.24 and a 200 day moving average of $53.14. The company has a market cap of $31.52 billion, a PE ratio of 18.54, a PEG ratio of 1.18 and a beta of 0.83.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 117.08% and a net margin of 12.59%.The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that Las Vegas Sands will post 3.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Las Vegas Sands

Several institutional investors and hedge funds have recently bought and sold shares of LVS. Wedge Capital Management L L P NC boosted its holdings in shares of Las Vegas Sands by 16.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 710,484 shares of the casino operator’s stock valued at $32,817,000 after purchasing an additional 101,891 shares during the last quarter. Tema ETFs LLC increased its holdings in shares of Las Vegas Sands by 9.5% during the 2nd quarter. Tema ETFs LLC now owns 6,695 shares of the casino operator’s stock worth $309,000 after buying an additional 580 shares during the last quarter. Carolina Wealth Advisors LLC raised its position in shares of Las Vegas Sands by 1.5% in the 2nd quarter. Carolina Wealth Advisors LLC now owns 27,578 shares of the casino operator’s stock worth $1,274,000 after buying an additional 407 shares during the period. Czech National Bank raised its position in shares of Las Vegas Sands by 3.1% in the 2nd quarter. Czech National Bank now owns 84,871 shares of the casino operator’s stock worth $3,920,000 after buying an additional 2,529 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Las Vegas Sands by 45.1% in the second quarter. Assenagon Asset Management S.A. now owns 822,268 shares of the casino operator’s stock valued at $37,981,000 after acquiring an additional 255,623 shares during the last quarter. Institutional investors and hedge funds own 39.16% of the company’s stock.

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.