Wells Fargo & Company Forecasts Strong Price Appreciation for Las Vegas Sands (NYSE:LVS) Stock

Las Vegas Sands (NYSE:LVS) had its target price increased by Wells Fargo & Company from $66.00 to $67.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage presently has an “equal weight” rating on the casino operator’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 13.69% from the company’s current price.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group upgraded shares of Las Vegas Sands from a “neutral” rating to a “buy” rating and upped their price target for the company from $64.00 to $80.00 in a research note on Monday, December 15th. Jefferies Financial Group reissued a “buy” rating and set a $78.00 price objective on shares of Las Vegas Sands in a report on Wednesday, December 24th. Macquarie raised their target price on Las Vegas Sands from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Barclays lifted their price target on Las Vegas Sands from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Las Vegas Sands from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.05.

Las Vegas Sands Trading Down 2.8%

Shares of NYSE LVS opened at $58.93 on Friday. Las Vegas Sands has a twelve month low of $30.18 and a twelve month high of $70.45. The firm has a market cap of $39.84 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 1.43 and a beta of 0.97. The business has a fifty day simple moving average of $65.21 and a two-hundred day simple moving average of $57.46. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 7.42.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.16. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.04 billion. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.Las Vegas Sands’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. Analysts expect that Las Vegas Sands will post 2.6 earnings per share for the current fiscal year.

Insider Transactions at Las Vegas Sands

In other news, COO Patrick Dumont sold 210,305 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $69.96, for a total transaction of $14,712,937.80. Following the completion of the transaction, the chief operating officer directly owned 446,608 shares of the company’s stock, valued at $31,244,695.68. This represents a 32.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert G. Goldstein sold 1,198,650 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $66.68, for a total value of $79,925,982.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 5,182,053 shares of company stock valued at $333,348,399 in the last ninety days. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Las Vegas Sands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Total Investment Management Inc. purchased a new stake in shares of Las Vegas Sands during the second quarter worth about $25,000. Grove Bank & Trust purchased a new stake in Las Vegas Sands during the 4th quarter worth approximately $26,000. Westside Investment Management Inc. increased its stake in Las Vegas Sands by 48.0% during the 3rd quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock worth $28,000 after buying an additional 166 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Las Vegas Sands during the third quarter valued at approximately $33,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Las Vegas Sands by 549.5% in the third quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator’s stock valued at $35,000 after acquiring an additional 533 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Company Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.