Las Vegas Sands (NYSE:LVS) Price Target Lowered to $60.00 at Wells Fargo & Company

Las Vegas Sands (NYSE:LVS) had its price objective dropped by research analysts at Wells Fargo & Company from $62.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 19.45% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. StockNews.com raised Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. reduced their price objective on Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays increased their price objective on Las Vegas Sands from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Morgan Stanley increased their price objective on Las Vegas Sands from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Mizuho began coverage on Las Vegas Sands in a research note on Tuesday, March 26th. They issued a “buy” rating and a $70.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.17.

Las Vegas Sands Trading Down 0.6 %

Shares of LVS stock opened at $50.23 on Thursday. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.31 and a quick ratio of 1.30. The company has a market cap of $37.74 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 0.81 and a beta of 1.16. The stock has a 50 day simple moving average of $52.37 and a 200-day simple moving average of $49.62. Las Vegas Sands has a 1-year low of $43.77 and a 1-year high of $65.58.

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

Insiders Place Their Bets

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $52.06, for a total value of $5,206,000.00. Following the completion of the sale, the chief executive officer now directly owns 172,801 shares of the company’s stock, valued at approximately $8,996,020.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Las Vegas Sands

A number of hedge funds have recently modified their holdings of LVS. Price T Rowe Associates Inc. MD boosted its holdings in Las Vegas Sands by 20.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,638,753 shares of the casino operator’s stock valued at $1,556,945,000 after acquiring an additional 5,439,735 shares during the period. Norges Bank acquired a new stake in Las Vegas Sands in the 4th quarter valued at about $266,538,000. Vanguard Group Inc. raised its position in Las Vegas Sands by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 36,898,186 shares of the casino operator’s stock valued at $1,815,760,000 after purchasing an additional 4,264,043 shares in the last quarter. ARGA Investment Management LP raised its position in Las Vegas Sands by 214.5% in the 4th quarter. ARGA Investment Management LP now owns 3,110,574 shares of the casino operator’s stock valued at $153,071,000 after purchasing an additional 2,121,546 shares in the last quarter. Finally, Charles Lim Capital Ltd raised its position in shares of Las Vegas Sands by 296.2% during the 3rd quarter. Charles Lim Capital Ltd now owns 2,575,000 shares of the casino operator’s stock worth $118,038,000 after acquiring an additional 1,925,000 shares in the last quarter. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

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.