Las Vegas Sands (NYSE:LVS) Given New $60.00 Price Target at Bank of America

Las Vegas Sands (NYSE:LVS) had its price target cut by equities researchers at Bank of America from $70.00 to $60.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the casino operator’s stock. Bank of America‘s target price points to a potential upside of 30.76% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Citigroup decreased their target price on shares of Las Vegas Sands from $78.50 to $73.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Seaport Research Partners decreased their price objective on shares of Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Las Vegas Sands from $77.00 to $73.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Wells Fargo & Company cut their target price on Las Vegas Sands from $65.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 14th. Finally, UBS Group set a $52.00 target price on Las Vegas Sands in a report on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Las Vegas Sands has a consensus rating of “Moderate Buy” and an average target price of $65.31.

Las Vegas Sands Price Performance

Shares of NYSE:LVS traded up $0.52 during trading on Monday, reaching $45.88. 1,459,485 shares of the company traded hands, compared to its average volume of 4,816,435. The firm has a market capitalization of $30.40 billion, a PE ratio of 16.99, a PEG ratio of 1.03 and a beta of 0.83. Las Vegas Sands has a 52 week low of $44.22 and a 52 week high of $70.45. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64. The company’s 50 day moving average is $48.80 and its two-hundred day moving average is $53.82.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.15. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.Las Vegas Sands’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. As a group, sell-side analysts predict that Las Vegas Sands will post 3.37 earnings per share for the current year.

Institutional Trading of Las Vegas Sands

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in Las Vegas Sands by 222.7% during the 4th quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock worth $592,223,000 after acquiring an additional 6,279,390 shares during the last quarter. Norges Bank bought a new position in shares of Las Vegas Sands during the fourth quarter valued at $364,892,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Las Vegas Sands by 410.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,167,553 shares of the casino operator’s stock worth $277,963,000 after purchasing an additional 4,154,753 shares during the period. M&T Bank Corp lifted its holdings in shares of Las Vegas Sands by 33,102.6% during the fourth quarter. M&T Bank Corp now owns 3,060,288 shares of the casino operator’s stock worth $197,463,000 after purchasing an additional 3,051,071 shares during the period. Finally, Amundi grew its stake in shares of Las Vegas Sands by 157.2% in the first quarter. Amundi now owns 2,864,789 shares of the casino operator’s stock worth $154,355,000 after purchasing an additional 1,750,758 shares during the last quarter. Institutional investors own 39.16% of the company’s stock.

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.