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

Las Vegas Sands (NYSE:LVS) had its target price boosted by stock analysts at Wells Fargo & Company from $53.00 to $60.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 15.34% from the company’s previous close.

A number of other analysts also recently commented on the stock. Macquarie decreased their price objective on shares of Las Vegas Sands from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Argus downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. UBS Group downgraded Las Vegas Sands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $49.00 in a research report on Friday, August 23rd. Finally, StockNews.com downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.83.

Las Vegas Sands Price Performance

LVS stock traded up $1.68 during trading on Tuesday, reaching $52.02. 5,797,621 shares of the company were exchanged, compared to its average volume of 5,744,403. The company has a market cap of $38.76 billion, a P/E ratio of 25.19, a PEG ratio of 1.20 and a beta of 1.11. Las Vegas Sands has a 52-week low of $36.62 and a 52-week high of $55.65. The stock’s 50 day moving average price is $40.62 and its 200 day moving average price is $44.31. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.57 and a current ratio of 1.58.

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

Institutional Investors Weigh In On Las Vegas Sands

Several institutional investors and hedge funds have recently added to or reduced their stakes in LVS. Czech National Bank grew its stake in shares of Las Vegas Sands by 0.5% in the first quarter. Czech National Bank now owns 64,974 shares of the casino operator’s stock valued at $3,359,000 after buying an additional 319 shares in the last quarter. Western Pacific Wealth Management LP grew its stake in shares of Las Vegas Sands by 53.5% in the first quarter. Western Pacific Wealth Management LP now owns 970 shares of the casino operator’s stock valued at $50,000 after buying an additional 338 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Las Vegas Sands by 54.8% in the fourth quarter. Parallel Advisors LLC now owns 1,008 shares of the casino operator’s stock valued at $50,000 after buying an additional 357 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Las Vegas Sands by 0.8% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,098 shares of the casino operator’s stock valued at $2,350,000 after buying an additional 401 shares in the last quarter. Finally, Game Plan Financial Advisors LLC grew its stake in shares of Las Vegas Sands by 1.4% in the first quarter. Game Plan Financial Advisors LLC now owns 31,882 shares of the casino operator’s stock valued at $1,648,000 after buying an additional 435 shares in the last quarter. 39.16% of the stock is currently 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.