Las Vegas Sands (NYSE:LVS) Price Target Cut to $59.00 by Analysts at Barclays

Las Vegas Sands (NYSE:LVS) had its price objective lowered by Barclays from $60.00 to $59.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

Other research analysts have also issued research reports about the company. Jefferies Financial Group dropped their price target on Las Vegas Sands from $54.00 to $53.00 and set a hold rating for the company in a research report on Thursday. StockNews.com upgraded Las Vegas Sands from a hold rating to a buy rating in a report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on shares of Las Vegas Sands from $62.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday. Citigroup lifted their price target on shares of Las Vegas Sands from $74.00 to $75.00 and gave the stock a buy rating in a research note on Thursday. Finally, Mizuho reduced their price objective on shares of Las Vegas Sands from $70.00 to $65.00 and set a buy rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Las Vegas Sands has an average rating of Moderate Buy and an average price target of $64.47.

Las Vegas Sands Price Performance

NYSE:LVS opened at $45.88 on Thursday. The business’s 50-day moving average is $52.22 and its 200 day moving average is $49.60. Las Vegas Sands has a 12 month low of $43.77 and a 12 month high of $65.58. The company has a market capitalization of $34.47 billion, a P/E ratio of 22.16, a P/E/G ratio of 0.82 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 2.96.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. Las Vegas Sands had a return on equity of 41.81% and a net margin of 13.99%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the company posted $0.28 EPS. The company’s revenue was up 34.9% compared to the same quarter last year. On average, equities research analysts forecast that Las Vegas Sands will post 2.67 earnings per share for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, February 5th. This represents a $0.80 annualized dividend and a yield of 1.74%. Las Vegas Sands’s payout ratio is currently 38.65%.

Insider Buying and Selling at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $52.06, for a total transaction of $5,206,000.00. Following the transaction, the chief executive officer now owns 172,801 shares in the company, valued at $8,996,020.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.91% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LVS. Headlands Technologies LLC bought a new stake in shares of Las Vegas Sands in the 3rd quarter valued at about $27,000. Western Pacific Wealth Management LP purchased a new position in Las Vegas Sands during the third quarter valued at approximately $29,000. Coppell Advisory Solutions LLC purchased a new position in Las Vegas Sands during the second quarter valued at approximately $29,000. Retirement Group LLC bought a new position in Las Vegas Sands in the fourth quarter worth approximately $31,000. Finally, CNB Bank purchased a new stake in Las Vegas Sands during the third quarter worth $32,000. 39.16% of the stock is currently owned by institutional investors.

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.