Las Vegas Sands (NYSE:LVS) Price Target Cut to $60.00

Las Vegas Sands (NYSE:LVS) had its price target lowered by analysts at Wells Fargo & Company from $62.00 to $60.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s target price points to a potential upside of 31.98% from the company’s current price.

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

Las Vegas Sands Stock Performance

Shares of NYSE LVS opened at $45.46 on Thursday. Las Vegas Sands has a 12-month low of $43.77 and a 12-month high of $65.58. The company has a market cap of $34.15 billion, a PE ratio of 21.96, a P/E/G ratio of 0.82 and a beta of 1.16. The stock has a 50 day simple moving average of $52.06 and a 200-day simple moving average of $49.59. The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 2.96.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings results on Wednesday, April 17th. The casino operator reported $0.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, equities research analysts forecast that Las Vegas Sands will post 2.67 EPS for the current year.

Insider Activity at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 100,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were 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 directly owns 172,801 shares of the company’s stock, valued at approximately $8,996,020.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions LLC acquired a new stake in shares of Las Vegas Sands during the 2nd quarter valued at $29,000. Headlands Technologies LLC purchased a new stake in shares of Las Vegas Sands during the third quarter worth $27,000. Western Pacific Wealth Management LP acquired a new stake in Las Vegas Sands during the third quarter valued at $29,000. Retirement Group LLC purchased a new position in Las Vegas Sands in the fourth quarter valued at about $31,000. Finally, Delos Wealth Advisors LLC acquired a new position in Las Vegas Sands in the 4th quarter worth about $33,000. 39.16% of the stock is owned by hedge funds and other institutional investors.

About Las Vegas Sands

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.