Las Vegas Sands (NYSE:LVS) Price Target Raised to $67.00

Las Vegas Sands (NYSE:LVS) had its price objective upped by equities research analysts at Wells Fargo & Company from $66.00 to $67.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the casino operator’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 13.69% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Barclays boosted their target price on Las Vegas Sands from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. Seaport Global Securities decreased their price target on shares of Las Vegas Sands from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday. Stifel Nicolaus lifted their price objective on Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Zacks Research lowered Las Vegas Sands from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 22nd. Finally, Susquehanna boosted their price objective on shares of Las Vegas Sands from $62.00 to $63.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.05.

Las Vegas Sands Price Performance

Las Vegas Sands stock opened at $58.93 on Friday. The stock has a market cap of $39.84 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 1.47 and a beta of 0.97. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 7.42. The business has a 50-day simple moving average of $65.21 and a 200 day simple moving average of $57.39. Las Vegas Sands has a 52 week low of $30.18 and a 52 week high of $70.45.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, topping the consensus estimate of $0.62 by $0.16. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.04 billion. Las Vegas Sands had a return on equity of 73.14% and a net margin of 12.69%.Las Vegas Sands’s revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 earnings per share. On average, research analysts forecast that Las Vegas Sands will post 2.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Patrick Dumont sold 135,603 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $67.96, for a total value of $9,215,579.88. Following the completion of the transaction, the chief operating officer owned 446,608 shares in the company, valued at $30,351,479.68. The trade was a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert G. Goldstein sold 1,198,650 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $66.68, for a total value of $79,925,982.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 5,182,053 shares of company stock valued at $333,348,399. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On Las Vegas Sands

A number of hedge funds have recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC purchased a new stake in Las Vegas Sands during the second quarter valued at approximately $908,000. Maple Rock Capital Partners Inc. increased its position in shares of Las Vegas Sands by 124.4% during the second quarter. Maple Rock Capital Partners Inc. now owns 1,003,880 shares of the casino operator’s stock worth $43,679,000 after purchasing an additional 556,440 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Las Vegas Sands by 7.1% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 644,286 shares of the casino operator’s stock valued at $28,033,000 after purchasing an additional 42,598 shares during the last quarter. Intech Investment Management LLC purchased a new position in Las Vegas Sands during the 2nd quarter worth $1,254,000. Finally, CWM LLC increased its position in Las Vegas Sands by 78.0% during the 3rd quarter. CWM LLC now owns 102,576 shares of the casino operator’s stock valued at $5,518,000 after buying an additional 44,940 shares in 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 (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.