Las Vegas Sands (NYSE:LVS) Price Target Raised to $61.00

Las Vegas Sands (NYSE:LVS) had its target price upped by investment analysts at Barclays from $58.00 to $61.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Barclays‘s target price would indicate a potential upside of 13.24% from the company’s previous close.

A number of other equities analysts also recently issued reports on LVS. Stifel Nicolaus lifted their price objective on shares of Las Vegas Sands from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on shares of Las Vegas Sands from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. UBS Group increased their price objective on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Susquehanna boosted their target price on Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their target price on Las Vegas Sands from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Las Vegas Sands has an average rating of “Moderate Buy” and a consensus price target of $58.42.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $53.87 on Friday. The stock has a market cap of $39.06 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.44 and a beta of 1.10. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.89 and a current ratio of 0.90. Las Vegas Sands has a fifty-two week low of $36.62 and a fifty-two week high of $56.60. The firm’s 50-day simple moving average is $51.85 and its 200 day simple moving average is $45.62.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.79 billion. Las Vegas Sands had a net margin of 13.29% and a return on equity of 44.26%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 EPS. As a group, research analysts anticipate that Las Vegas Sands will post 2.33 earnings per share for the current fiscal year.

Insider Transactions at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 24,324 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the sale, the chief executive officer now owns 60,187 shares in the company, valued at $3,129,724. This represents a 28.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Robert G. Goldstein sold 60,187 shares of Las Vegas Sands stock in a transaction on Friday, November 29th. The shares were sold at an average price of $53.02, for a total value of $3,191,114.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 203,732 shares of company stock worth $10,861,707. 0.91% of the stock is owned by company insiders.

Institutional Trading of Las Vegas Sands

A number of institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its holdings in Las Vegas Sands by 7,647.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 443,325 shares of the casino operator’s stock valued at $19,617,000 after buying an additional 437,603 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Las Vegas Sands by 97.2% in the third quarter. Meeder Asset Management Inc. now owns 89,743 shares of the casino operator’s stock valued at $4,518,000 after acquiring an additional 44,223 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Las Vegas Sands by 1.4% in the third quarter. The Manufacturers Life Insurance Company now owns 5,627,422 shares of the casino operator’s stock valued at $283,284,000 after acquiring an additional 77,807 shares during the period. Sanctuary Advisors LLC purchased a new position in Las Vegas Sands during the second quarter valued at approximately $619,000. Finally, Clearbridge Investments LLC increased its holdings in Las Vegas Sands by 29.9% during the 2nd quarter. Clearbridge Investments LLC now owns 833,487 shares of the casino operator’s stock worth $36,882,000 after acquiring an additional 191,805 shares during the period. Hedge funds and other institutional investors own 39.16% of the company’s stock.

About Las Vegas Sands

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.