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

Las Vegas Sands (NYSE:LVS) had its price objective lowered by equities research analysts at Wells Fargo & Company from $62.00 to $60.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 19.45% from the company’s current price.

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

Las Vegas Sands Stock Down 0.6 %

Shares of Las Vegas Sands 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 50-day moving average of $52.37 and a 200 day moving average of $49.62. The firm 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. 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 issued its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the business earned $0.28 EPS. Las Vegas Sands’s quarterly revenue was up 34.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Las Vegas Sands will post 2.73 earnings per share for the current fiscal year.

Insider Transactions at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 100,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $52.06, for a total value of $5,206,000.00. Following the transaction, the chief executive officer now owns 172,801 shares in the company, valued at approximately $8,996,020.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Las Vegas Sands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LVS. Price T Rowe Associates Inc. MD raised its position in shares of Las Vegas Sands by 20.8% during the fourth 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 buying an additional 5,439,735 shares during the last quarter. Norges Bank purchased a new position in shares of Las Vegas Sands in the fourth quarter valued at $266,538,000. Vanguard Group Inc. grew its holdings in shares of Las Vegas Sands by 13.1% in the fourth 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 grew its holdings in shares of Las Vegas Sands by 214.5% in the fourth 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 grew its holdings in shares of Las Vegas Sands by 296.2% in the third quarter. Charles Lim Capital Ltd now owns 2,575,000 shares of the casino operator’s stock valued at $118,038,000 after purchasing an additional 1,925,000 shares in the last quarter. 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.