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

Las Vegas Sands (NYSE:LVS) had its target price increased by Wells Fargo & Company from $53.00 to $60.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

A number of other analysts also recently issued reports on the company. Barclays decreased their target price on Las Vegas Sands from $57.00 to $52.00 and set an overweight rating for the company in a research report on Thursday, July 25th. Jefferies Financial Group dropped their price objective on shares of Las Vegas Sands from $53.00 to $47.00 and set a hold rating on the stock in a report on Thursday, July 11th. Morgan Stanley reduced their target price on shares of Las Vegas Sands from $55.00 to $50.00 and set an overweight rating for the company in a research note on Wednesday, September 4th. Stifel Nicolaus dropped their price target on shares of Las Vegas Sands from $65.00 to $55.00 and set a buy rating on the stock in a research note on Thursday, July 25th. Finally, Argus lowered shares of Las Vegas Sands from a buy rating to a hold rating in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $55.83.

Las Vegas Sands Trading Up 1.2 %

NYSE LVS opened at $52.58 on Tuesday. The business’s fifty day moving average is $41.59 and its 200-day moving average is $44.44. 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 stock has a market capitalization of $39.17 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.20 and a beta of 1.12. Las Vegas Sands has a one year low of $36.62 and a one year high of $55.65.

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

Las Vegas Sands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.52%. The ex-dividend date was Tuesday, August 6th. Las Vegas Sands’s dividend payout ratio is 38.65%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Czech National Bank grew its position in Las Vegas Sands by 3.5% in the third quarter. Czech National Bank now owns 72,007 shares of the casino operator’s stock worth $3,625,000 after acquiring an additional 2,440 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Las Vegas Sands in the second quarter valued at about $619,000. Clearbridge Investments LLC increased its holdings in Las Vegas Sands by 29.9% during 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 period. Quarry LP raised its holdings in shares of Las Vegas Sands by 346.4% during the second quarter. Quarry LP now owns 2,692 shares of the casino operator’s stock valued at $119,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Creative Planning raised its holdings in Las Vegas Sands by 2.7% in the 2nd quarter. Creative Planning now owns 83,838 shares of the casino operator’s stock worth $3,710,000 after purchasing an additional 2,242 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Company Profile

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.