Morgan Stanley Lowers Las Vegas Sands (NYSE:LVS) Price Target to $66.00

Las Vegas Sands (NYSE:LVS) had its price objective lowered by Morgan Stanley from $68.00 to $66.00 in a report issued on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an overweight rating on the casino operator’s stock.

Several other analysts have also recently commented on LVS. Argus cut Las Vegas Sands from a buy rating to a hold rating in a research report on Tuesday, August 20th. Zacks Investment Research upgraded Las Vegas Sands from a hold rating to a buy rating and set a $66.00 target price on the stock in a research report on Wednesday, May 22nd. Deutsche Bank upgraded Las Vegas Sands from a hold rating to a buy rating and raised their target price for the company from $69.00 to $70.00 in a research report on Sunday, September 8th. JPMorgan Chase & Co. lowered their target price on Las Vegas Sands from $68.00 to $60.00 and set a neutral rating on the stock in a research report on Friday, September 6th. Finally, Goldman Sachs Group upgraded Las Vegas Sands to a buy rating in a research report on Tuesday, June 11th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $67.23.

LVS opened at $56.33 on Tuesday. Las Vegas Sands has a 12 month low of $47.39 and a 12 month high of $69.60. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.64 and a quick ratio of 1.62. The stock has a market cap of $44.94 billion, a P/E ratio of 18.42, a P/E/G ratio of 7.68 and a beta of 1.60. The stock’s 50 day moving average price is $55.53 and its 200 day moving average price is $60.22.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, July 24th. The casino operator reported $0.72 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.09). Las Vegas Sands had a net margin of 14.01% and a return on equity of 35.77%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that Las Vegas Sands will post 3.17 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 5.47%. The ex-dividend date of this dividend is Tuesday, September 17th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 92.77%.

In other news, EVP Lawrence A. Jacobs sold 66,667 shares of Las Vegas Sands stock in a transaction on Friday, September 13th. The stock was sold at an average price of $60.16, for a total transaction of $4,010,686.72. Following the transaction, the executive vice president now directly owns 66,667 shares in the company, valued at approximately $4,010,686.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kathleen Bender Patton sold 2,008 shares of Las Vegas Sands stock in a transaction on Friday, September 13th. The shares were sold at an average price of $35.60, for a total value of $71,484.80. 10.50% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Las Vegas Sands by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 22,610,132 shares of the casino operator’s stock valued at $1,336,033,000 after purchasing an additional 102,810 shares during the period. BlackRock Inc. boosted its stake in shares of Las Vegas Sands by 3.7% during the 2nd quarter. BlackRock Inc. now owns 18,516,990 shares of the casino operator’s stock worth $1,094,168,000 after acquiring an additional 664,769 shares in the last quarter. Boston Partners boosted its stake in shares of Las Vegas Sands by 16.5% during the 2nd quarter. Boston Partners now owns 6,063,064 shares of the casino operator’s stock worth $358,510,000 after acquiring an additional 858,697 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Las Vegas Sands by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 3,215,580 shares of the casino operator’s stock worth $167,354,000 after acquiring an additional 87,729 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Las Vegas Sands by 8.0% during the 1st quarter. Northern Trust Corp now owns 2,775,407 shares of the casino operator’s stock worth $169,188,000 after acquiring an additional 206,270 shares in the last quarter. Institutional investors own 36.29% of the company’s stock.

About Las Vegas Sands

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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Analyst Recommendations for Las Vegas Sands (NYSE:LVS)

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