Bank of America Has Lowered Expectations for Las Vegas Sands (NYSE:LVS) Stock Price

Key Points

• Bank of America cut its price target on Las Vegas Sands from $70 to $60 while keeping a neutral rating, though the new target still implies upside from the prior close.
• Other analysts were mixed: several kept or raised targets, but Goldman Sachs lowered its target to $63, and the overall analyst consensus remains Moderate Buy with an average price target of $65.31.
• The stock rose 1.2% to $45.88 despite trading below its 50-day and 200-day moving averages; the company recently beat quarterly earnings and revenue estimates, reporting $0.91 EPS on $3.58 billion in revenue.

Las Vegas Sands (NYSE:LVS - Get Free Report) had its price target lowered by equities researchers at Bank of America from $70.00 to $60.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the casino operator's stock. Bank of America's target price suggests a potential upside of 30.76% from the stock's previous close.

Several other analysts also recently commented on the stock. Mizuho raised their target price on shares of Las Vegas Sands from $65.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. 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. Weiss Ratings lowered shares of Las Vegas Sands from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, May 26th. Jefferies Financial Group boosted their price objective on shares of Las Vegas Sands from $61.00 to $63.00 and gave the company a "hold" rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group reduced their target price on shares of Las Vegas Sands from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.31.

Las Vegas Sands Trading Up 1.2%

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

Las Vegas Sands (NYSE:LVS - Get Free Report) last released 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. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the firm posted $0.59 earnings per share. Las Vegas Sands's revenue was up 25.3% compared to the same quarter last year. Equities research analysts anticipate that Las Vegas Sands will post 3.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Swiss Life Asset Management Ltd lifted its holdings in shares of Las Vegas Sands by 116.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 148,196 shares of the casino operator's stock worth $9,646,000 after buying an additional 79,641 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Las Vegas Sands by 411.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 44,208 shares of the casino operator's stock valued at $2,877,000 after acquiring an additional 35,566 shares during the period. Wealthfront Advisers LLC grew its stake in shares of Las Vegas Sands by 40.6% in the fourth quarter. Wealthfront Advisers LLC now owns 67,446 shares of the casino operator's stock valued at $4,390,000 after acquiring an additional 19,488 shares in the last quarter. Perpetual Ltd bought a new position in Las Vegas Sands during the fourth quarter worth about $2,051,000. Finally, SG Americas Securities LLC raised its stake in Las Vegas Sands by 2,655.3% in the 4th quarter. SG Americas Securities LLC now owns 878,022 shares of the casino operator's stock worth $57,150,000 after purchasing an additional 846,155 shares in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.