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

Las Vegas Sands (NYSE:LVS) had its target price lowered by Wells Fargo & Company from $62.00 to $60.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

Several other research firms have also issued reports on LVS. StockNews.com upgraded Las Vegas Sands from a hold rating to a buy rating in a research report on Wednesday, April 10th. Mizuho initiated coverage on Las Vegas Sands in a research report on Tuesday, March 26th. They set a buy rating and a $70.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Las Vegas Sands from $59.00 to $55.00 and set an overweight rating on the stock in a research report on Thursday. Barclays raised their price target on Las Vegas Sands from $57.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley increased their price objective on Las Vegas Sands from $61.00 to $62.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $64.47.

Las Vegas Sands Price Performance

Shares of Las Vegas Sands stock opened at $45.88 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 2.96. The firm has a market capitalization of $34.47 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.16. The business’s 50-day moving average price is $52.22 and its 200-day moving average price is $49.60. Las Vegas Sands has a 12 month low of $43.77 and a 12 month high of $65.58.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.94 billion. Las Vegas Sands had a return on equity of 41.81% and a net margin of 13.99%. The company’s revenue was up 34.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 EPS. Sell-side analysts forecast that Las Vegas Sands will post 2.67 EPS for the current fiscal year.

Las Vegas Sands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Monday, February 5th. Las Vegas Sands’s payout ratio is currently 38.65%.

Insider Buying and Selling

In related news, CEO Robert G. Goldstein sold 100,000 shares of Las Vegas Sands stock in a transaction on Friday, March 15th. The stock was sold at an average price of $52.06, for a total transaction of $5,206,000.00. Following the transaction, the chief executive officer now directly owns 172,801 shares in the company, valued at $8,996,020.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Las Vegas Sands

Several institutional investors and hedge funds have recently bought and sold shares of LVS. Headlands Technologies LLC purchased a new position in Las Vegas Sands during the third quarter valued at $27,000. Western Pacific Wealth Management LP purchased a new position in shares of Las Vegas Sands in the third quarter valued at about $29,000. Coppell Advisory Solutions LLC purchased a new position in shares of Las Vegas Sands in the second quarter valued at about $29,000. Retirement Group LLC purchased a new position in shares of Las Vegas Sands in the fourth quarter valued at about $31,000. Finally, CNB Bank purchased a new position in shares of Las Vegas Sands in the third quarter valued at about $32,000. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

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.