Wells Fargo & Company Cuts Las Vegas Sands (NYSE:LVS) Price Target to $53.00

Las Vegas Sands (NYSE:LVS) had its price objective decreased by Wells Fargo & Company from $58.00 to $53.00 in a report issued on Thursday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the casino operator’s stock.

A number of other equities analysts have also recently weighed in on LVS. StockNews.com raised shares of Las Vegas Sands from a hold rating to a buy rating in a research report on Wednesday, April 10th. Jefferies Financial Group reduced their target price on Las Vegas Sands from $53.00 to $47.00 and set a hold rating on the stock in a report on Thursday, July 11th. Barclays lowered their price target on Las Vegas Sands from $57.00 to $52.00 and set an overweight rating for the company in a report on Thursday. Mizuho cut their price objective on Las Vegas Sands from $70.00 to $65.00 and set a buy rating on the stock in a report on Thursday, April 18th. Finally, Morgan Stanley lowered their target price on Las Vegas Sands from $59.00 to $55.00 and set an overweight rating for the company in a research note on Friday, July 12th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $58.00.

Las Vegas Sands Trading Down 0.4 %

NYSE:LVS opened at $39.18 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.29 and a debt-to-equity ratio of 2.96. Las Vegas Sands has a 1-year low of $38.92 and a 1-year high of $60.47. The firm has a market capitalization of $29.19 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.72 and a beta of 1.12. The business’s 50-day moving average price is $43.40 and its two-hundred day moving average price is $47.91.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, July 24th. The casino operator reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.01). Las Vegas Sands had a net margin of 14.08% and a return on equity of 43.61%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period last year, the company earned $0.46 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Las Vegas Sands will post 2.49 earnings per share for the current year.

Las Vegas Sands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Tuesday, August 6th. Las Vegas Sands’s dividend payout ratio is currently 38.65%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $266,538,000. Vanguard Group Inc. increased its holdings 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 position 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 acquiring an additional 2,121,546 shares in the last quarter. Janus Henderson Group PLC raised its position 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 acquiring an additional 1,968,941 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Las Vegas Sands by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 11,351,573 shares of the casino operator’s stock valued at $502,307,000 after acquiring an additional 1,536,754 shares during the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

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.