Wells Fargo & Company Increases Las Vegas Sands (NYSE:LVS) Price Target to $60.00

Las Vegas Sands (NYSE:LVS) had its price objective upped by equities research analysts at Wells Fargo & Company from $53.00 to $60.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 15.83% from the company’s previous close.

Several other research firms have also recently commented on LVS. Barclays lowered their target price on shares of Las Vegas Sands from $57.00 to $52.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Susquehanna lowered their target price on Las Vegas Sands from $59.00 to $51.00 and set a “positive” rating on the stock in a report on Thursday, July 25th. Argus downgraded shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. StockNews.com cut shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Las Vegas Sands from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.83.

Las Vegas Sands Trading Down 0.1 %

NYSE:LVS opened at $51.80 on Tuesday. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.58 and a quick ratio of 1.57. The firm has a market capitalization of $38.59 billion, a P/E ratio of 25.02, a P/E/G ratio of 1.20 and a beta of 1.12. Las Vegas Sands has a 12-month low of $36.62 and a 12-month high of $55.65. The business has a 50 day simple moving average of $41.07 and a 200 day simple moving average of $44.37.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, July 24th. The casino operator reported $0.55 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.01). The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.82 billion. Las Vegas Sands had a return on equity of 44.41% and a net margin of 14.08%. Las Vegas Sands’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the company posted $0.46 EPS. Equities research analysts predict that Las Vegas Sands will post 2.45 EPS for the current year.

Hedge Funds Weigh In On Las Vegas Sands

Hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in Las Vegas Sands by 987.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,549,615 shares of the casino operator’s stock worth $245,570,000 after purchasing an additional 5,039,072 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Las Vegas Sands by 13.1% in the 4th quarter. Vanguard Group Inc. now owns 36,898,186 shares of the casino operator’s stock worth $1,815,760,000 after purchasing an additional 4,264,043 shares during the last quarter. Janus Henderson Group PLC boosted 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 purchasing an additional 1,968,941 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 worth $502,307,000 after buying an additional 1,536,754 shares during the last quarter. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Las Vegas Sands in the fourth quarter worth $73,815,000. 39.16% of the stock is owned by institutional investors and hedge funds.

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.