Jefferies Financial Group Raises Las Vegas Sands (NYSE:LVS) Price Target to $66.00

Las Vegas Sands (NYSE:LVS – Get Rating) had its target price upped by equities researchers at Jefferies Financial Group from $64.00 to $66.00 in a research note issued on Monday, The Fly reports. Jefferies Financial Group’s price objective suggests a potential upside of 18.11% from the stock’s current price. Jefferies Financial Group also issued estimates for Las Vegas Sands’ Q2 2023 earnings at $0.41 EPS and FY2024 earnings at $2.85 EPS.

A number of other brokerages also recently issued reports on LVS. Wells Fargo & Company upped their price objective on shares of Las Vegas Sands from $53.00 to $65.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. Bank of America increased their target price on shares of Las Vegas Sands from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. CICC Research initiated coverage on shares of Las Vegas Sands in a report on Thursday, November 24th. They issued an “outperform” rating for the company. Credit Suisse Group raised their price objective on shares of Las Vegas Sands from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Las Vegas Sands from $55.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Las Vegas Sands Trading Down 0.1 %

Shares of LVS stock opened at $55.88 on Monday. Las Vegas Sands has a 52-week low of $28.88 and a 52-week high of $60.99. The company has a debt-to-equity ratio of 3.81, a quick ratio of 1.72 and a current ratio of 1.73. The company has a 50-day simple moving average of $56.41 and a two-hundred day simple moving average of $46.65. The company has a market capitalization of $42.71 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 15.99 and a beta of 1.16.

Las Vegas Sands (NYSE:LVS – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The casino operator reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). Las Vegas Sands had a negative return on equity of 22.49% and a net margin of 44.57%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts anticipate that Las Vegas Sands will post 1.41 EPS for the current fiscal year.

Institutional Trading of Las Vegas Sands

Several institutional investors and hedge funds have recently made changes to their positions in LVS. Norges Bank purchased a new stake in shares of Las Vegas Sands during the 4th quarter valued at $164,559,000. Amundi raised its position in shares of Las Vegas Sands by 72.1% during the 4th quarter. Amundi now owns 5,595,575 shares of the casino operator’s stock valued at $297,908,000 after buying an additional 2,344,064 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Las Vegas Sands by 6.9% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 31,854,683 shares of the casino operator’s stock valued at $1,195,313,000 after buying an additional 2,061,378 shares in the last quarter. Aspex Management HK Ltd raised its position in shares of Las Vegas Sands by 55.0% during the 3rd quarter. Aspex Management HK Ltd now owns 5,652,595 shares of the casino operator’s stock valued at $212,085,000 after buying an additional 2,005,112 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Las Vegas Sands by 36.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,428,878 shares of the casino operator’s stock valued at $278,734,000 after buying an additional 1,966,755 shares in the last quarter. Hedge funds and other institutional investors own 39.75% of the company’s stock.

About Las Vegas Sands

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Las Vegas Sands Corp. engages in the development of destination properties. The firm operates through the Macao and Singapore geographical segments. The Macao segment handles the operations of The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Macao, and Sands Macao.