Morgan Stanley Has Lowered Expectations for Las Vegas Sands (NYSE:LVS) Stock Price

Key Points

• Morgan Stanley lowered its Las Vegas Sands price target from $68 to $61 while maintaining an “equal weight” rating, implying 28.22% potential upside from the prior close.
• Several analysts have also reduced their targets, bringing the consensus price target to $61.88; nevertheless, the stock retains a “Moderate Buy” consensus based on 11 Buy, six Hold, and one Sell rating.
• Las Vegas Sands reported quarterly EPS of $0.59, below the $0.76 consensus estimate, while revenue of $3.15 billion also missed expectations and declined 0.7% year over year.

Las Vegas Sands (NYSE:LVS - Get Free Report) had its target price reduced by investment analysts at Morgan Stanley from $68.00 to $61.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the casino operator's stock. Morgan Stanley's target price would suggest a potential upside of 28.22% from the company's previous close.

LVS has been the subject of several other reports. Barclays cut their price target on shares of Las Vegas Sands from $63.00 to $59.00 and set an "overweight" rating for the company in a report on Thursday. Seaport Research Partners lowered their price objective on Las Vegas Sands from $72.00 to $69.00 and set a "buy" rating on the stock in a report on Tuesday, April 21st. Bank of America dropped their target price on Las Vegas Sands from $70.00 to $60.00 and set a "neutral" rating on the stock in a research report on Monday, July 20th. Wells Fargo & Company cut their target price on Las Vegas Sands from $65.00 to $53.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings downgraded Las Vegas Sands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.88.

Las Vegas Sands Stock Performance

NYSE:LVS traded up $1.49 during midday trading on Monday, reaching $47.57. The stock had a trading volume of 2,112,130 shares, compared to its average volume of 4,888,792. The firm has a fifty day simple moving average of $48.24 and a two-hundred day simple moving average of $53.14. Las Vegas Sands has a 12-month low of $44.21 and a 12-month high of $70.45. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64. The stock has a market cap of $31.52 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.18 and a beta of 0.83.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 117.08% and a net margin of 12.59%.The firm had revenue of $3.15 billion for the quarter, compared to analysts' expectations of $3.31 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The firm's quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts expect that Las Vegas Sands will post 3.21 EPS for the current year.

Hedge Funds Weigh In On Las Vegas Sands

Several hedge funds have recently bought and sold shares of LVS. Mackenzie Financial Corp boosted its position in Las Vegas Sands by 0.3% during the third quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator's stock worth $2,902,000 after purchasing an additional 156 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Las Vegas Sands by 7.8% in the 3rd quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator's stock worth $132,000 after buying an additional 177 shares in the last quarter. &PARTNERS boosted its position in shares of Las Vegas Sands by 3.2% in the 4th quarter. &PARTNERS now owns 6,930 shares of the casino operator's stock worth $453,000 after buying an additional 214 shares in the last quarter. United Capital Financial Advisors LLC grew its stake in Las Vegas Sands by 5.5% in the 3rd quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator's stock valued at $266,000 after acquiring an additional 258 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in Las Vegas Sands by 4.2% during the 4th quarter. Kestra Private Wealth Services LLC now owns 6,859 shares of the casino operator's stock valued at $446,000 after acquiring an additional 279 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Company Profile

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.