Deutsche Bank Aktiengesellschaft Cuts Las Vegas Sands (NYSE:LVS) Price Target to $62.00

Las Vegas Sands (NYSE:LVS) had its price target lowered by equities research analysts at Deutsche Bank Aktiengesellschaft from $66.00 to $62.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the casino operator’s stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 35.46% from the company’s current price.

LVS has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com upgraded shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Mizuho reduced their price objective on shares of Las Vegas Sands from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday. Jefferies Financial Group reduced their price objective on shares of Las Vegas Sands from $54.00 to $53.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Barclays reduced their price objective on shares of Las Vegas Sands from $60.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Las Vegas Sands presently has an average rating of “Moderate Buy” and an average price target of $64.80.

Las Vegas Sands Trading Down 8.9 %

LVS traded down $4.46 on Thursday, reaching $45.77. 14,141,260 shares of the company traded hands, compared to its average volume of 4,495,368. Las Vegas Sands has a one year low of $43.77 and a one year high of $65.58. The firm has a fifty day simple moving average of $52.37 and a two-hundred day simple moving average of $49.62. The company has a market cap of $34.39 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 0.81 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 2.96.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. Las Vegas Sands had a net margin of 11.77% and a return on equity of 34.40%. The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s quarterly revenue was up 34.9% compared to the same quarter last year. As a group, equities research analysts expect that Las Vegas Sands will post 2.73 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Las Vegas Sands

Hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its holdings in Las Vegas Sands by 4.9% during the third quarter. California Public Employees Retirement System now owns 652,220 shares of the casino operator’s stock worth $29,898,000 after buying an additional 30,500 shares in the last quarter. Nordea Investment Management AB raised its position in Las Vegas Sands by 182.9% during the fourth quarter. Nordea Investment Management AB now owns 698,686 shares of the casino operator’s stock worth $34,264,000 after acquiring an additional 451,710 shares during the period. DNB Asset Management AS raised its position in Las Vegas Sands by 50.4% during the fourth quarter. DNB Asset Management AS now owns 672,905 shares of the casino operator’s stock worth $33,114,000 after acquiring an additional 225,351 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in Las Vegas Sands by 15.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,195 shares of the casino operator’s stock worth $467,000 after acquiring an additional 1,379 shares during the period. Finally, Stableford Capital II LLC acquired a new position in Las Vegas Sands during the fourth quarter worth $1,936,000. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Company Profile

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.