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

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

A number of other research analysts have also recently commented on the company. Morgan Stanley upped their price objective on Las Vegas Sands from $61.00 to $62.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Barclays boosted their target price on Las Vegas Sands from $57.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, April 10th. StockNews.com raised Las Vegas Sands from a hold rating to a buy rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. cut their target price on Las Vegas Sands from $59.00 to $55.00 and set an overweight rating on the stock in a research report on Thursday. Finally, Mizuho started coverage on Las Vegas Sands in a research report on Tuesday, March 26th. They issued a buy rating and a $70.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $64.47.

Las Vegas Sands Trading Down 8.7 %

LVS opened at $45.88 on Thursday. Las Vegas Sands has a one year low of $43.77 and a one year high of $65.58. The stock has a market capitalization of $34.47 billion, a PE ratio of 22.16, a P/E/G 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. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.30 and a current ratio of 1.31.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.75 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. As a group, equities research analysts expect that Las Vegas Sands will post 2.67 EPS for the current year.

Las Vegas Sands Dividend Announcement

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

Insider Transactions at Las Vegas Sands

In other news, CEO Robert G. Goldstein sold 100,000 shares of the company’s 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 sale, the chief executive officer now owns 172,801 shares of the company’s stock, valued at $8,996,020.06. The transaction 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

Several large investors have recently bought and sold shares of LVS. Price T Rowe Associates Inc. MD increased its holdings in Las Vegas Sands by 20.8% in 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 Las Vegas Sands in the fourth quarter valued at $266,538,000. Vanguard Group Inc. increased its holdings in 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 buying an additional 4,264,043 shares during the last quarter. ARGA Investment Management LP increased its holdings in 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 buying an additional 2,121,546 shares during the last quarter. Finally, Charles Lim Capital Ltd increased its holdings in 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 buying an additional 1,925,000 shares during the last quarter. Hedge funds and other 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.