Las Vegas Sands (NYSE:LVS) Price Target Cut to $58.00 by Analysts at The Goldman Sachs Group

Key Points

• Las Vegas Sands' price target has been reduced from $59.00 to $58.00 by analysts at The Goldman Sachs Group, who maintain a "neutral" rating on the stock.
• Despite the recent price target cut, analysts from Barclays and UBS have given the company an adjusted target price of $58.00 and $65.00, respectively, with the average target price at $60.20.
• Las Vegas Sands reported a quarterly earnings per share of $0.79, surpassing estimates, with revenues of $3.18 billion, marking a 15% increase compared to the prior year.

Las Vegas Sands (NYSE:LVS - Get Free Report) had its price target dropped by research analysts at The Goldman Sachs Group from $59.00 to $58.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has a "neutral" rating on the casino operator's stock. The Goldman Sachs Group's price target indicates a potential upside of 13.58% from the stock's current price.

LVS has been the subject of a number of other reports. Barclays boosted their target price on shares of Las Vegas Sands from $57.00 to $58.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Citigroup restated a "buy" rating on shares of Las Vegas Sands in a research note on Wednesday, July 9th. UBS Group lifted their price target on Las Vegas Sands from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, August 28th. Bank of America increased their price target on Las Vegas Sands from $52.50 to $58.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Morgan Stanley boosted their target price on shares of Las Vegas Sands from $50.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Las Vegas Sands currently has an average rating of "Moderate Buy" and an average target price of $60.20.

Las Vegas Sands Price Performance

LVS stock opened at $51.07 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 6.53. Las Vegas Sands has a 12 month low of $30.18 and a 12 month high of $58.05. The firm has a market capitalization of $35.06 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 1.98 and a beta of 1.01. The firm has a 50 day moving average of $53.95 and a 200-day moving average of $45.44.

Las Vegas Sands (NYSE:LVS - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.26. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The company had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $2.83 billion. During the same period in the prior year, the business earned $0.55 earnings per share. Las Vegas Sands's revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts predict that Las Vegas Sands will post 2.6 earnings per share for the current fiscal year.

Institutional Trading of Las Vegas Sands

A number of institutional investors have recently added to or reduced their stakes in LVS. Nuveen LLC bought a new position in Las Vegas Sands during the first quarter worth $183,836,000. Norges Bank bought a new stake in shares of Las Vegas Sands during the second quarter valued at approximately $134,179,000. ARGA Investment Management LP lifted its position in Las Vegas Sands by 36.8% in the second quarter. ARGA Investment Management LP now owns 10,040,975 shares of the casino operator's stock worth $436,883,000 after purchasing an additional 2,698,398 shares during the period. Vanguard Group Inc. increased its holdings in Las Vegas Sands by 5.8% in the 1st quarter. Vanguard Group Inc. now owns 41,249,208 shares of the casino operator's stock valued at $1,593,457,000 after buying an additional 2,267,307 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Las Vegas Sands by 4,226.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,012,800 shares of the casino operator's stock worth $44,067,000 after acquiring an additional 989,392 shares during the period. 39.16% of the stock is currently owned by institutional investors and hedge funds.

About Las Vegas Sands

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.

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