Las Vegas Sands (NYSE:LVS) Now Covered by Analysts at Citigroup

Key Points

• Citigroup initiated coverage of Las Vegas Sands with a “buy” rating and a $71.50 price target, implying 97.62% upside from the prior close.
• Analyst sentiment is mixed but leans positive: 11 analysts rate the stock a Buy and 10 rate it a Hold, producing a consensus “Moderate Buy” rating and an average target of $60.16.
• Las Vegas Sands recently missed quarterly estimates, reporting $0.59 in EPS versus $0.76 expected and $3.15 billion in revenue versus $3.31 billion projected; shares opened at $36.18 and remained near their one-year low.

Stock analysts at Citigroup began coverage on shares of Las Vegas Sands (NYSE:LVS - Get Free Report) in a note issued to investors on Monday, Briefing.com reports. The firm set a "buy" rating and a $71.50 price target on the casino operator's stock. Citigroup's target price points to a potential upside of 97.62% from the stock's previous close.

Several other equities analysts have also recently weighed in on LVS. HC Wainwright cut shares of Las Vegas Sands to a "neutral" rating in a research report on Thursday, July 30th. Wall Street Zen lowered Las Vegas Sands from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Wolfe Research initiated coverage on Las Vegas Sands in a report on Wednesday, September 2nd. They issued a "peer perform" rating for the company. The Goldman Sachs Group decreased their target price on Las Vegas Sands from $63.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Finally, Argus downgraded Las Vegas Sands from a "buy" rating to a "hold" rating in a report on Thursday, July 30th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Las Vegas Sands presently has a consensus rating of "Moderate Buy" and an average target price of $60.16.

Las Vegas Sands Stock Performance

Shares of LVS opened at $36.18 on Monday. The company has a 50-day moving average of $42.59 and a two-hundred day moving average of $47.75. The stock has a market cap of $23.43 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.89 and a beta of 0.78. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99. Las Vegas Sands has a one year low of $35.28 and a one year high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, equities research analysts expect that Las Vegas Sands will post 3.09 earnings per share for the current year.

Institutional Trading of Las Vegas Sands

A number of institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in Las Vegas Sands by 6.5% in the second quarter. State Street Corp now owns 15,159,570 shares of the casino operator's stock worth $700,221,000 after acquiring an additional 919,452 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Las Vegas Sands during the 2nd quarter worth $107,407,000. SG Americas Securities LLC increased its stake in shares of Las Vegas Sands by 74.2% during the 1st quarter. SG Americas Securities LLC now owns 1,529,236 shares of the casino operator's stock worth $82,395,000 after purchasing an additional 651,214 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Las Vegas Sands during the 2nd quarter valued at $40,380,000. Finally, Allianz Asset Management GmbH raised its holdings in shares of Las Vegas Sands by 36.9% during the 2nd quarter. Allianz Asset Management GmbH now owns 4,617,148 shares of the casino operator's stock valued at $213,266,000 after purchasing an additional 1,244,943 shares in the last quarter. Institutional investors and hedge funds own 39.16% of the company's stock.

Las Vegas Sands Company Profile

Las Vegas Sands Corp. NYSE: LVS is a global developer and operator of integrated resorts that combine casino gaming with hotels, convention and exhibition facilities, retail, dining and entertainment venues. The company's properties are designed to serve leisure travelers, business visitors and convention groups.

Las Vegas Sands operates major integrated resorts in Macau, including The Venetian Macao, The Parisian Macao, The Londoner Macao and Four Seasons Hotel Macao. In Singapore, it operates Marina Bay Sands, a large resort featuring hotel accommodations, gaming, shopping, dining, entertainment and convention facilities.

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