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

Las Vegas Sands (NYSE:LVS) had its target price dropped by stock analysts at Wells Fargo & Company from $60.00 to $59.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 35.59% from the stock’s current price.

A number of other research firms have also weighed in on LVS. Barclays dropped their price objective on Las Vegas Sands from $61.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday. Susquehanna upped their price target on Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Morgan Stanley restated an “equal weight” rating and set a $51.00 target price (down previously from $54.00) on shares of Las Vegas Sands in a research report on Tuesday, January 14th. UBS Group lifted their price target on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Mizuho increased their price objective on shares of Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.25.

Las Vegas Sands Stock Up 0.7 %

Shares of LVS stock opened at $43.52 on Thursday. Las Vegas Sands has a 12 month low of $36.62 and a 12 month high of $56.60. The company has a 50 day simple moving average of $50.06 and a two-hundred day simple moving average of $46.72. The stock has a market cap of $31.55 billion, a P/E ratio of 21.54, a P/E/G 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 (NYSE:LVS) last posted its quarterly earnings data on Wednesday, January 29th. The casino operator reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). Las Vegas Sands had a net margin of 13.29% and a return on equity of 44.26%. On average, research analysts expect that Las Vegas Sands will post 2.36 earnings per share for the current year.

Insider Buying and Selling at Las Vegas Sands

In related news, CEO Robert G. Goldstein sold 60,187 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $53.02, for a total value of $3,191,114.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Robert G. Goldstein sold 24,324 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 60,187 shares of the company’s stock, valued at $3,129,724. This trade represents a 28.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Las Vegas Sands

Several hedge funds and other institutional investors have recently modified their holdings of LVS. Meeder Asset Management Inc. grew its stake in Las Vegas Sands by 97.2% in 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 in the last quarter. The Manufacturers Life Insurance Company increased 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 worth $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 valued at about $619,000. Clearbridge Investments LLC raised its position in shares of Las Vegas Sands by 29.9% in the 2nd quarter. Clearbridge Investments LLC now owns 833,487 shares of the casino operator’s stock valued at $36,882,000 after purchasing an additional 191,805 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Las Vegas Sands by 33.3% in the third quarter. Principal Financial Group Inc. now owns 548,072 shares of the casino operator’s stock worth $27,590,000 after buying an additional 136,859 shares during the last quarter. 39.16% of the stock is currently 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.