Las Vegas Sands Corp. (NYSE:LVS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $71.00 price target on the casino operator’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.11% from the company’s current price.

According to Zacks, “Las Vegas Sands’ efforts to boost tourism and traffic in Macao are yielding results, and the company’s portfolio therein is experiencing strong visitation of late. Focus on diversification and growth in the mass and non-gaming market also bode well and should aid margins. Going forward, the company is positive on its Cotai Strip portfolio of properties, buoyed by the addition of The Parisian Macao. High occupancy rates in the Las Vegas properties are also likely to continue driving growth. However, its shares have underperformed the industry in the past six months. Even so, upward estimate revisions raise optimism. Also, the company has mostly positive record of earnings surprises in recent quarters. Going forward, the stock is likely to continue benefiting from improving gaming trends in Macao and solid Las Vegas business, Yet, another corruption crackdown might affect Macao’s recovery and, in turn, hamper performance.”

Several other research analysts have also weighed in on the company. Bank of America Corporation reiterated a “buy” rating and set a $67.00 target price (up from $65.00) on shares of Las Vegas Sands Corp. in a report on Friday, July 21st. Morgan Stanley reiterated an “equal weight” rating and set a $62.00 target price (up from $58.00) on shares of Las Vegas Sands Corp. in a report on Monday, July 10th. Stifel Nicolaus reiterated a “buy” rating on shares of Las Vegas Sands Corp. in a report on Sunday, September 3rd. UBS AG reiterated a “neutral” rating on shares of Las Vegas Sands Corp. in a report on Monday, July 10th. Finally, Instinet reiterated a “neutral” rating on shares of Las Vegas Sands Corp. in a report on Monday, July 17th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Las Vegas Sands Corp. has an average rating of “Buy” and a consensus price target of $64.66.

Shares of Las Vegas Sands Corp. (NYSE LVS) opened at 61.45 on Friday. The company has a 50-day moving average price of $63.22 and a 200 day moving average price of $61.04. Las Vegas Sands Corp. has a 52 week low of $51.35 and a 52 week high of $66.22. The stock has a market capitalization of $48.67 billion, a P/E ratio of 23.91 and a beta of 1.76.

Las Vegas Sands Corp. (NYSE:LVS) last posted its earnings results on Wednesday, July 26th. The casino operator reported $0.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.01 billion. Las Vegas Sands Corp. had a return on equity of 29.91% and a net margin of 16.66%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Analysts forecast that Las Vegas Sands Corp. will post $2.76 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in LVS. Global X Management Co. LLC increased its position in shares of Las Vegas Sands Corp. by 8.3% in the second quarter. Global X Management Co. LLC now owns 1,653 shares of the casino operator’s stock valued at $106,000 after acquiring an additional 126 shares during the last quarter. Ffcm LLC increased its position in Las Vegas Sands Corp. by 90.9% during the second quarter. Ffcm LLC now owns 2,436 shares of the casino operator’s stock worth $153,000 after buying an additional 1,160 shares during the last quarter. State of Alaska Department of Revenue increased its position in Las Vegas Sands Corp. by 24.4% during the second quarter. State of Alaska Department of Revenue now owns 2,603 shares of the casino operator’s stock worth $166,000 after buying an additional 510 shares during the last quarter. Point72 Asia Hong Kong Ltd increased its position in Las Vegas Sands Corp. by 87.2% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,994 shares of the casino operator’s stock worth $171,000 after buying an additional 1,395 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in Las Vegas Sands Corp. by 143.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,731 shares of the casino operator’s stock worth $174,000 after buying an additional 1,610 shares during the last quarter. 38.01% of the stock is currently owned by institutional investors and hedge funds.

Las Vegas Sands Corp. Company Profile

Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.

Analyst Recommendations for Las Vegas Sands Corp. (NYSE:LVS)

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