Las Vegas Sands (NYSE:LVS) Given New $78.50 Price Target at Citigroup

Key Points

• Citigroup raised its price target on Las Vegas Sands to $78.50 (from $76.75) and kept a "buy" rating, implying about a 42.1% upside from the current share price.
• Quarterly results beat expectations—EPS $0.85 vs. $0.77 and revenue $3.65B vs. $3.33B (revenue +26% YoY); the stock has a consensus "Moderate Buy" with an average analyst target of $68.03.
• CEO Patrick Dumont sold 60,165 shares on March 17 for roughly $3.29M, trimming his stake by 10.52%, and insiders now own about 1.20% of the company.

Las Vegas Sands (NYSE:LVS - Get Free Report) had its target price hoisted by Citigroup from $76.75 to $78.50 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm currently has a "buy" rating on the casino operator's stock. Citigroup's target price indicates a potential upside of 42.09% from the company's current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group dropped their target price on shares of Las Vegas Sands from $80.00 to $73.00 and set a "buy" rating for the company in a research report on Thursday, January 29th. Morgan Stanley reiterated a "mixed" rating on shares of Las Vegas Sands in a research note on Wednesday, April 8th. Argus cut their price objective on Las Vegas Sands from $80.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, January 30th. JPMorgan Chase & Co. lifted their target price on Las Vegas Sands from $70.00 to $71.00 and gave the stock an "overweight" rating in a report on Friday, January 23rd. Finally, HSBC boosted their target price on Las Vegas Sands from $67.50 to $73.00 and gave the stock a "buy" rating in a research report on Thursday, January 29th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.03.

Las Vegas Sands Stock Up 0.7%

Shares of LVS opened at $55.25 on Monday. The business's 50 day moving average is $55.20 and its 200 day moving average is $58.86. The company has a current ratio of 1.14, a quick ratio of 1.13 and a debt-to-equity ratio of 7.58. Las Vegas Sands has a 12-month low of $31.60 and a 12-month high of $70.45. The company has a market capitalization of $36.66 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings results on Wednesday, January 28th. The casino operator reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.08. The business had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.33 billion. Las Vegas Sands had a return on equity of 91.40% and a net margin of 12.50%.The firm's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Research analysts expect that Las Vegas Sands will post 2.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patrick Dumont sold 60,165 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $54.75, for a total transaction of $3,294,033.75. Following the sale, the chief executive officer owned 511,942 shares in the company, valued at approximately $28,028,824.50. This represents a 10.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On Las Vegas Sands

Several hedge funds and other institutional investors have recently made changes to their positions in LVS. Grove Bank & Trust bought a new position in Las Vegas Sands during the 4th quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in shares of Las Vegas Sands during the fourth quarter valued at approximately $26,000. Westside Investment Management Inc. grew its stake in shares of Las Vegas Sands by 48.0% during the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator's stock valued at $28,000 after buying an additional 166 shares during the last quarter. DV Equities LLC bought a new position in shares of Las Vegas Sands during the fourth quarter valued at approximately $28,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Las Vegas Sands in the fourth quarter worth approximately $29,000. Hedge funds and other 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.

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