Las Vegas Sands (NYSE:LVS) Price Target Cut to $58.00

Las Vegas Sands (NYSE:LVS) had its target price decreased by Wells Fargo & Company from $60.00 to $58.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 36.50% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. Mizuho decreased their price objective on shares of Las Vegas Sands from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Citigroup lifted their price objective on shares of Las Vegas Sands from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. decreased their price objective on shares of Las Vegas Sands from $59.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Stifel Nicolaus cut their target price on shares of Las Vegas Sands from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Las Vegas Sands from $66.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.15.

Las Vegas Sands Stock Performance

Shares of LVS traded down $0.39 during mid-day trading on Tuesday, hitting $42.49. 2,203,806 shares of the company’s stock were exchanged, compared to its average volume of 5,365,105. Las Vegas Sands has a 52 week low of $42.47 and a 52 week high of $61.25. The stock’s 50-day simple moving average is $45.24 and its 200-day simple moving average is $48.99. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 0.79 and a beta of 1.12. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 2.96.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, April 17th. The casino operator reported $0.75 EPS for the quarter, topping the consensus estimate of $0.62 by $0.13. Las Vegas Sands had a net margin of 13.99% and a return on equity of 42.34%. The company had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the firm earned $0.28 earnings per share. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, equities research analysts expect that Las Vegas Sands will post 2.69 EPS for the current year.

Hedge Funds Weigh In On Las Vegas Sands

A number of hedge funds have recently modified their holdings of LVS. Norges Bank bought a new position in Las Vegas Sands during the fourth quarter worth $266,538,000. Vanguard Group Inc. raised its stake in Las Vegas Sands by 13.1% during the fourth quarter. Vanguard Group Inc. now owns 36,898,186 shares of the casino operator’s stock worth $1,815,760,000 after buying an additional 4,264,043 shares during the last quarter. ARGA Investment Management LP raised its stake in Las Vegas Sands by 214.5% during the fourth quarter. ARGA Investment Management LP now owns 3,110,574 shares of the casino operator’s stock worth $153,071,000 after buying an additional 2,121,546 shares during the last quarter. Janus Henderson Group PLC raised its stake in Las Vegas Sands by 58.6% during the first quarter. Janus Henderson Group PLC now owns 5,330,023 shares of the casino operator’s stock worth $275,559,000 after buying an additional 1,968,941 shares during the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in Las Vegas Sands during the fourth quarter worth $73,815,000. Institutional investors and hedge funds 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.