Las Vegas Sands (NYSE:LVS – Get Free Report) had its price objective raised by investment analysts at Morgan Stanley from $59.00 to $61.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. Morgan Stanley’s price objective points to a potential upside of 13.78% from the company’s previous close.
Other analysts also recently issued research reports about the company. Stifel Nicolaus boosted their price objective on Las Vegas Sands from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. UBS Group upped their target price on Las Vegas Sands from $71.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, November 16th. Susquehanna assumed coverage on Las Vegas Sands in a report on Friday, December 15th. They issued a “positive” rating and a $59.00 target price on the stock. Finally, StockNews.com downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.82.
Las Vegas Sands Stock Performance
Las Vegas Sands (NYSE:LVS – Get Free Report) last issued its quarterly earnings results on Wednesday, January 24th. The casino operator reported $0.57 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.04). Las Vegas Sands had a return on equity of 34.32% and a net margin of 11.77%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. Las Vegas Sands’s revenue was up 161.0% compared to the same quarter last year. Sell-side analysts predict that Las Vegas Sands will post 2.76 earnings per share for the current fiscal year.
Las Vegas Sands announced that its Board of Directors has approved a stock repurchase program on Wednesday, October 18th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the casino operator to buy up to 5.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Insider Transactions at Las Vegas Sands
In related news, major shareholder Miriam Adelson sold 12,253,628 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $43.23, for a total value of $529,724,338.44. Following the transaction, the insider now owns 41,134,164 shares in the company, valued at $1,778,229,909.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.91% of the company’s stock.
Hedge Funds Weigh In On Las Vegas Sands
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC acquired a new stake in shares of Las Vegas Sands during the fourth quarter worth about $4,306,000. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Las Vegas Sands by 3.4% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,151 shares of the casino operator’s stock worth $647,000 after purchasing an additional 435 shares during the period. Kentucky Retirement Systems raised its position in shares of Las Vegas Sands by 3.7% during the fourth quarter. Kentucky Retirement Systems now owns 29,536 shares of the casino operator’s stock worth $1,453,000 after purchasing an additional 1,055 shares during the period. ARGA Investment Management LP raised its position in shares of Las Vegas Sands by 214.5% during the fourth quarter. ARGA Investment Management LP now owns 3,110,574 shares of the casino operator’s stock worth $153,071,000 after purchasing an additional 2,121,546 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Las Vegas Sands by 9.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 343,364 shares of the casino operator’s stock worth $17,398,000 after purchasing an additional 30,259 shares during the period. Institutional investors own 39.16% of the company’s stock.
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.
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