Wells Fargo & Company Cuts Las Vegas Sands (NYSE:LVS) Price Target to $53.00

Las Vegas Sands (NYSE:LVS) had its price objective trimmed by Wells Fargo & Company from $58.00 to $53.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

Other equities research analysts also recently issued reports about the company. Morgan Stanley reduced their price objective on Las Vegas Sands from $59.00 to $55.00 and set an overweight rating for the company in a research note on Friday, July 12th. Jefferies Financial Group reduced their price objective on Las Vegas Sands from $53.00 to $47.00 and set a hold rating for the company in a research note on Thursday, July 11th. StockNews.com raised Las Vegas Sands from a hold rating to a buy rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. dropped their price objective on Las Vegas Sands from $59.00 to $55.00 and set an overweight rating on the stock in a report on Thursday, April 18th. Finally, Mizuho dropped their price objective on Las Vegas Sands from $70.00 to $65.00 and set a buy rating on the stock in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Las Vegas Sands presently has a consensus rating of Moderate Buy and an average target price of $58.00.

Las Vegas Sands Trading Down 0.4 %

Shares of NYSE LVS opened at $39.18 on Thursday. Las Vegas Sands has a 12 month low of $38.92 and a 12 month high of $60.47. The company has a market cap of $29.19 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 0.72 and a beta of 1.12. The company has a quick ratio of 1.29, a current ratio of 1.30 and a debt-to-equity ratio of 2.96. The business has a fifty day simple moving average of $43.40 and a 200-day simple moving average of $47.90.

Las Vegas Sands (NYSE:LVS) last announced its quarterly earnings data on Wednesday, July 24th. The casino operator reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.01). The business had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Las Vegas Sands had a return on equity of 43.61% and a net margin of 14.08%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Sell-side analysts predict that Las Vegas Sands will post 2.49 EPS for the current year.

Las Vegas Sands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.80 dividend on an annualized basis and a yield of 2.04%. Las Vegas Sands’s payout ratio is currently 38.65%.

Institutional Investors Weigh In On Las Vegas Sands

A number of large investors have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC boosted its position in Las Vegas Sands by 1.9% during the fourth quarter. Waldron Private Wealth LLC now owns 12,361 shares of the casino operator’s stock worth $608,000 after purchasing an additional 232 shares during the period. Corient Private Wealth LLC boosted its position in shares of Las Vegas Sands by 1.0% in the fourth quarter. Corient Private Wealth LLC now owns 28,532 shares of the casino operator’s stock valued at $1,404,000 after acquiring an additional 288 shares during the period. Czech National Bank boosted its position 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 acquiring an additional 319 shares during the period. Western Pacific Wealth Management LP boosted its position 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 acquiring an additional 338 shares during the period. Finally, Parallel Advisors LLC boosted its position 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 acquiring an additional 357 shares during the period. Institutional investors own 39.16% of the company’s stock.

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.