Las Vegas Sands (NYSE:LVS) Stock Price Target Cut by Barclays

Key Points

• Barclays lowered Las Vegas Sands’ price target from $59 to $57 while maintaining an “overweight” rating, implying roughly 57% upside from the prior close.
• Analyst sentiment remains favorable but targets have broadly declined; the stock has a “Moderate Buy” consensus rating and an average price target of $59.72.
• Las Vegas Sands recently missed quarterly expectations, reporting $0.59 in EPS versus $0.76 expected and revenue of $3.15 billion versus $3.31 billion anticipated. Shares closed at $36.28, near their 52-week low of $35.28.

Las Vegas Sands (NYSE:LVS - Get Free Report) had its target price decreased by research analysts at Barclays from $59.00 to $57.00 in a report issued on Friday, Benzinga reports. The firm presently has an "overweight" rating on the casino operator's stock. Barclays's price objective suggests a potential upside of 57.11% from the stock's previous close.

Several other analysts also recently issued reports on LVS. JPMorgan Chase & Co. reduced their price target on shares of Las Vegas Sands from $64.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday, July 23rd. Stifel Nicolaus lowered their price objective on Las Vegas Sands from $74.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $62.00 target price (down from $73.00) on shares of Las Vegas Sands in a research report on Thursday, July 23rd. Wolfe Research started coverage on shares of Las Vegas Sands in a report on Wednesday, September 2nd. They issued a "peer perform" rating for the company. Finally, HSBC cut their price target on Las Vegas Sands from $78.00 to $68.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.72.

Las Vegas Sands Price Performance

NYSE LVS traded up $0.18 on Friday, hitting $36.28. 936,345 shares of the company's stock were exchanged, compared to its average volume of 5,033,749. The stock has a 50-day moving average of $42.85 and a 200-day moving average of $47.88. The stock has a market cap of $23.50 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 0.88 and a beta of 0.78. Las Vegas Sands has a 52 week low of $35.28 and a 52 week high of $70.45. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. Las Vegas Sands's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. Analysts expect that Las Vegas Sands will post 3.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Las Vegas Sands by 6.5% during the second quarter. State Street Corp now owns 15,159,570 shares of the casino operator's stock valued at $700,221,000 after buying an additional 919,452 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Las Vegas Sands by 4.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 8,582,962 shares of the casino operator's stock valued at $462,450,000 after purchasing an additional 396,705 shares during the period. Allianz Asset Management GmbH increased its stake in Las Vegas Sands by 36.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 4,617,148 shares of the casino operator's stock worth $213,266,000 after buying an additional 1,244,943 shares during the period. Bamco Inc. NY bought a new stake in Las Vegas Sands during the 2nd quarter valued at about $174,796,000. Finally, Dimensional Fund Advisors LP boosted its position in Las Vegas Sands by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,780,266 shares of the casino operator's stock valued at $203,616,000 after buying an additional 90,690 shares during the period. 39.16% of the stock is currently owned by institutional investors.

About Las Vegas Sands

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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