Las Vegas Sands (NYSE:LVS) Price Target Raised to $67.00 at Morgan Stanley

Las Vegas Sands (NYSE:LVS) had its price target boosted by stock analysts at Morgan Stanley from $66.00 to $67.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the casino operator’s stock. Morgan Stanley’s price objective would indicate a potential upside of 19.41% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Seaport Research Partners dropped their price objective 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. HSBC lifted their price objective on Las Vegas Sands from $67.50 to $73.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. The Goldman Sachs Group cut their target price on shares of Las Vegas Sands from $80.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, January 29th. Zacks Research downgraded shares of Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Las Vegas Sands in a research note on Monday, December 29th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.92.

Las Vegas Sands Trading Up 3.9%

LVS stock traded up $2.09 during mid-day trading on Wednesday, hitting $56.11. 130,761 shares of the company were exchanged, compared to its average volume of 5,184,175. Las Vegas Sands has a 12-month low of $30.52 and a 12-month high of $70.45. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 7.58. The business has a fifty day simple moving average of $55.30 and a 200-day simple moving average of $58.82. The firm has a market capitalization of $37.24 billion, a P/E ratio of 23.87, a PEG ratio of 1.37 and a beta of 0.89.

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

Insider Activity

In other news, CEO Patrick Dumont sold 60,165 shares of Las Vegas Sands stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the completion of the sale, the chief executive officer directly owned 511,942 shares of the company’s stock, valued at approximately $28,028,824.50. The trade was a 10.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Las Vegas Sands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Grove Bank & Trust acquired a new position in Las Vegas Sands in the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new position in Las Vegas Sands in the fourth quarter valued at approximately $26,000. DV Equities LLC acquired a new position in Las Vegas Sands in the fourth quarter valued at approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new position in shares of Las Vegas Sands during the fourth quarter worth about $29,000. Finally, Westside Investment Management Inc. grew its holdings in shares of 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 purchasing an additional 166 shares during the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

About Las Vegas Sands

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.