Las Vegas Sands (NYSE:LVS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, Zacks.com reports. The firm currently has a $70.00 price target on the casino operator’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 10.83% from the company’s previous close.
According to Zacks, “Shares of Las Vegas Sands have outperformed the industry so far this year. Increased revenues at casino, rooms and mall drove the company’s top line in first-quarter 2019. It generated solid revenues from Macao operations as well. In the next couple of years, the company is likely to spend $2 billion in Macao. To strengthen the resort portfolio, Las Vegas Sands is focusing on expanding the Four Seasons Tower Suites Macao, St. Regis Tower Suites Macao and the Londoner Macao. Planned investment in new capital projects in Macao and higher revenues from The Parisian Macao are also likely to drive growth. Las Vegas Sands’ consistent focus on a convention-based Integrated Resort business model is an added positive. Nevertheless, high debt and competition are worrisome. Estimates for the current year have witnessed upward revisions in the past 30 days.”
A number of other equities analysts also recently weighed in on the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $64.00 target price (up previously from $58.00) on shares of Las Vegas Sands in a report on Thursday, April 18th. Morgan Stanley upped their target price on Las Vegas Sands from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Deutsche Bank upped their target price on Las Vegas Sands to $60.00 and gave the company a “buy” rating in a report on Thursday, January 24th. Credit Suisse Group reiterated a “neutral” rating and issued a $58.00 target price on shares of Las Vegas Sands in a report on Wednesday, March 20th. Finally, HSBC downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Las Vegas Sands presently has a consensus rating of “Hold” and a consensus price target of $68.60.
Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.48 billion. Las Vegas Sands had a return on equity of 34.52% and a net margin of 11.15%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.04 EPS. Research analysts forecast that Las Vegas Sands will post 3.35 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Private Capital Group LLC boosted its position in Las Vegas Sands by 55.7% during the first quarter. Private Capital Group LLC now owns 467 shares of the casino operator’s stock worth $28,000 after purchasing an additional 167 shares during the period. IBM Retirement Fund boosted its position in Las Vegas Sands by 2.2% during the first quarter. IBM Retirement Fund now owns 7,886 shares of the casino operator’s stock worth $481,000 after purchasing an additional 168 shares during the period. First Interstate Bank boosted its position in Las Vegas Sands by 70.8% during the first quarter. First Interstate Bank now owns 410 shares of the casino operator’s stock worth $25,000 after purchasing an additional 170 shares during the period. BOKF NA boosted its position in Las Vegas Sands by 2.7% during the fourth quarter. BOKF NA now owns 6,912 shares of the casino operator’s stock worth $359,000 after purchasing an additional 181 shares during the period. Finally, Bessemer Group Inc. boosted its position in Las Vegas Sands by 24.8% during the fourth quarter. Bessemer Group Inc. now owns 972 shares of the casino operator’s stock worth $50,000 after purchasing an additional 193 shares during the period. Hedge funds and other institutional investors own 36.76% of the company’s stock.
Las Vegas Sands Company Profile
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, 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 iconic Marina Bay Sands in Singapore.
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