Las Vegas Sands (LVS) Stock Rating Upgraded by Zacks Investment Research
Las Vegas Sands (NYSE:LVS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $79.00 price objective on the casino operator’s stock. Zacks Investment Research‘s target price indicates a potential upside of 11.52% from the company’s previous close.
According to Zacks, “Las Vegas Sands is currently benefiting from strong gaming performance along with higher hotel occupancy and retail mall revenues. The company is positive on the prospects of The Parisian Macao and expects it to deliver continued growth in the long haul. In fact, the company’s planned investment of over $1.1 billion in new capital projects in Macao over the next three years, given the continual revival of gaming revenues therein, also bodes well for long-term growth. High occupancy rates at the Las Vegas properties are likely to further drive growth. However, fears of another corruption crackdown by the authorities, intense competition and high debt burden raise concern. Its shares have also underperformed the industry on an year to date basis.”
Other analysts also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Las Vegas Sands from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Gabelli upped their price objective on shares of Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Barclays upped their price objective on shares of Las Vegas Sands from $69.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, December 7th. Nomura upped their price objective on shares of Las Vegas Sands from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Finally, Deutsche Bank upped their price objective on shares of Las Vegas Sands from $54.00 to $57.00 and gave the company a “hold” rating in a report on Thursday, October 26th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $65.90.
Las Vegas Sands (NYSE LVS) opened at $70.84 on Tuesday. The stock has a market cap of $56,000.00, a P/E ratio of 26.73 and a beta of 1.80. Las Vegas Sands has a 12-month low of $51.35 and a 12-month high of $72.20. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.07 and a quick ratio of 1.05.
Las Vegas Sands (NYSE:LVS) last released its earnings results on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.10. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.14 billion. Las Vegas Sands had a net margin of 16.80% and a return on equity of 31.11%. Las Vegas Sands’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. research analysts forecast that Las Vegas Sands will post 2.88 earnings per share for the current year.
In other news, Director George Jamieson bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average cost of $66.96 per share, for a total transaction of $66,960.00. Following the purchase, the director now directly owns 6,488 shares in the company, valued at approximately $434,436.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Ffcm LLC grew its holdings in shares of Las Vegas Sands by 90.9% during the second quarter. Ffcm LLC now owns 2,436 shares of the casino operator’s stock worth $153,000 after buying an additional 1,160 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in shares of Las Vegas Sands in the third quarter valued at about $181,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Las Vegas Sands in the third quarter valued at about $198,000. Chase Investment Counsel Corp purchased a new stake in shares of Las Vegas Sands in the third quarter valued at about $200,000. Finally, Birinyi Associates Inc. purchased a new stake in shares of Las Vegas Sands in the second quarter valued at about $201,000. Institutional investors own 37.37% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Las Vegas Sands (LVS) Stock Rating Upgraded by Zacks Investment Research” was first posted by Watch List News and is the property of of Watch List News. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://www.watchlistnews.com/las-vegas-sands-lvs-stock-rating-upgraded-by-zacks-investment-research/1785734.html.
Las Vegas Sands Company Profile
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
Receive News & Ratings for Las Vegas Sands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Las Vegas Sands and related companies with Analyst Ratings Network's FREE daily email newsletter.