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

Las Vegas Sands (NYSE:LVS) had its price target dropped 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 brokerage currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 31.98% from the company’s current price.

LVS has been the subject of several other research reports. Morgan Stanley boosted their target price on Las Vegas Sands from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. dropped their price objective on shares of Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday. Barclays boosted their target price on shares of Las Vegas Sands from $57.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. StockNews.com upgraded Las Vegas Sands from a “hold” rating to a “buy” rating in a research note on Wednesday, April 10th. Finally, Mizuho started coverage on Las Vegas Sands in a report on Tuesday, March 26th. They set a “buy” rating and a $70.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.47.

Las Vegas Sands Stock Performance

Shares of NYSE:LVS opened at $45.46 on Thursday. Las Vegas Sands has a 1 year low of $43.77 and a 1 year high of $65.58. The stock has a market capitalization of $34.15 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 0.82 and a beta of 1.16. 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’s 50 day simple moving average is $52.06 and its 200 day simple moving average is $49.59.

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, beating the consensus estimate of $0.62 by $0.13. Las Vegas Sands had a return on equity of 41.81% and a net margin of 13.99%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the company posted $0.28 EPS. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, research analysts predict that Las Vegas Sands will post 2.67 EPS for the current fiscal year.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 100,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 172,801 shares in the company, valued at approximately $8,996,020.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Las Vegas Sands

Hedge funds have recently bought and sold shares of the company. MML Investors Services LLC boosted its position in Las Vegas Sands by 1.9% during the first quarter. MML Investors Services LLC now owns 9,767 shares of the casino operator’s stock valued at $561,000 after acquiring an additional 185 shares during the last quarter. Horizon Investments LLC boosted its position in shares of Las Vegas Sands by 4.3% during the 2nd quarter. Horizon Investments LLC now owns 4,964 shares of the casino operator’s stock valued at $287,000 after purchasing an additional 204 shares in the last quarter. Baird Financial Group Inc. grew its stake in Las Vegas Sands by 0.7% during the fourth quarter. Baird Financial Group Inc. now owns 32,842 shares of the casino operator’s stock worth $1,579,000 after purchasing an additional 216 shares during the period. Industrial Alliance Investment Management Inc. increased its holdings in Las Vegas Sands by 16.4% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the casino operator’s stock worth $75,000 after purchasing an additional 220 shares in the last quarter. Finally, Waldron Private Wealth LLC lifted its stake in Las Vegas Sands by 1.9% in the fourth quarter. Waldron Private Wealth LLC now owns 12,361 shares of the casino operator’s stock valued at $608,000 after buying an additional 232 shares during the period. Institutional investors own 39.16% of the company’s stock.

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.