Las Vegas Sands (NYSE:LVS) Price Target Lowered to $59.00 at Wells Fargo & Company

Las Vegas Sands (NYSE:LVS) had its price target decreased by equities researchers at Wells Fargo & Company from $60.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 28.55% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Las Vegas Sands from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their price objective on Las Vegas Sands from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday. Macquarie upped their target price on Las Vegas Sands from $57.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday. UBS Group increased their price target on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands from $55.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.58.

Las Vegas Sands Stock Down 4.9 %

Shares of NYSE LVS opened at $45.90 on Thursday. The business has a 50-day moving average of $49.90 and a 200-day moving average of $46.71. The firm has a market capitalization of $33.28 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 1.00 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 3.09. Las Vegas Sands has a 12 month low of $36.62 and a 12 month high of $56.60.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Wednesday, January 29th. The casino operator reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). Las Vegas Sands had a return on equity of 43.76% and a net margin of 12.80%. Sell-side analysts expect that Las Vegas Sands will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 24,324 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $52.00, for a total value of $1,264,848.00. Following the completion of the transaction, the chief executive officer now directly owns 60,187 shares in the company, valued at approximately $3,129,724. This represents a 28.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Goldstein sold 60,187 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $53.02, for a total transaction of $3,191,114.74. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Hedge Funds Weigh In On Las Vegas Sands

A number of institutional investors have recently bought and sold shares of LVS. Meeder Asset Management Inc. grew its holdings in shares of Las Vegas Sands by 97.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 89,743 shares of the casino operator’s stock worth $4,518,000 after acquiring an additional 44,223 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Las Vegas Sands by 1.4% during the third quarter. The Manufacturers Life Insurance Company now owns 5,627,422 shares of the casino operator’s stock valued at $283,284,000 after purchasing an additional 77,807 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Las Vegas Sands in the second quarter worth $619,000. Clearbridge Investments LLC raised its holdings in Las Vegas Sands by 29.9% in the second quarter. Clearbridge Investments LLC now owns 833,487 shares of the casino operator’s stock worth $36,882,000 after purchasing an additional 191,805 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Las Vegas Sands by 33.3% during the third quarter. Principal Financial Group Inc. now owns 548,072 shares of the casino operator’s stock valued at $27,590,000 after buying an additional 136,859 shares during the period. 39.16% of the stock is owned by 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.