Las Vegas Sands (NYSE:LVS) Stock Picked Up by Analysts at Citigroup

Equities research analysts at Citigroup started coverage on shares of Las Vegas Sands (NYSE:LVS) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $71.50 price target on the casino operator’s stock. Citigroup’s price target would suggest a potential upside of 93.11% from the company’s current price.

Several other research analysts have also weighed in on LVS. The Goldman Sachs Group lowered their price objective on Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Morgan Stanley reduced their target price on Las Vegas Sands from $68.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, July 27th. Susquehanna reduced their target price on Las Vegas Sands from $64.00 to $63.00 and set a “positive” rating on the stock in a research report on Wednesday, July 22nd. Seaport Research Partners decreased their price target on Las Vegas Sands from $69.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Finally, HC Wainwright lowered Las Vegas Sands to a “neutral” rating in a research note on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.69.

Las Vegas Sands Stock Up 2.4%

Shares of NYSE LVS opened at $37.03 on Monday. The company has a 50 day simple moving average of $42.19 and a 200-day simple moving average of $47.50. The company has a market capitalization of $23.98 billion, a P/E ratio of 14.41, a P/E/G ratio of 0.89 and a beta of 0.78. The company has a debt-to-equity ratio of 15.27, a current ratio of 1.00 and a quick ratio of 0.99. Las Vegas Sands has a 1 year low of $35.28 and a 1 year high of $70.45.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm posted $0.66 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Las Vegas Sands will post 3.09 earnings per share for the current year.

Institutional Investors Weigh In On Las Vegas Sands

A number of institutional investors and hedge funds have recently made changes to their positions in LVS. State Street Corp lifted its position 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 worth $700,221,000 after purchasing an additional 919,452 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Las Vegas Sands in the second quarter valued at approximately $107,407,000. SG Americas Securities LLC boosted its stake in shares of Las Vegas Sands by 74.2% in the first quarter. SG Americas Securities LLC now owns 1,529,236 shares of the casino operator’s stock valued at $82,395,000 after purchasing an additional 651,214 shares during the period. Bank of America Corp DE purchased a new position in shares of Las Vegas Sands in the second quarter valued at approximately $40,380,000. Finally, Allianz Asset Management GmbH grew its holdings in shares of Las Vegas Sands by 36.9% in the second quarter. Allianz Asset Management GmbH now owns 4,617,148 shares of the casino operator’s stock valued at $213,266,000 after purchasing an additional 1,244,943 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other 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.