Las Vegas Sands Corp. (NYSE: LVS) shares rose on Wednesday Nov 30 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Analysts at Citigroup Inc. reiterated a Buy rating on shares of Las Vegas Sands Corp. (NYSE: LVS) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Buy on the stock. The one-year price target of $60.57 is a decrease compared to the opening price of $62.57, causing a fair amount of other analysts to issue statements on the company recently. Looking back over the last year, Las Vegas Sands Corp. stock has a high of $63.38. Typically, after analysts assign a “reiterated rating” report on a stock, they will subsequently issue periodic updates, such as a price target change.
Las Vegas Sands Corp. (NYSE: LVS) shares last traded at $62.44, which represents a jump of $0.29 or 0.47% over the previous closing price. Opening at $62.57, they varied from $62.38 and $62.81 throughout the day.
Las Vegas Sands Corp. (NYSE: LVS) now has a market cap of 49.62B.
Las Vegas Sands Corp. (NYSE: LVS) Average Daily Trading Volume
350,916 shares crossed the trading desk yesterday, lower than normal, out of a total float 320,136,000. Trading volume is likely to increase in the next few days as swing traders often use upticks in trading volume to determine substantial volume aggregation or dissemination by institutional investors.
However, one day of significant buy side trading is not enough to determine a trend. So market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you’re researching.
Las Vegas Sands Corp. (NYSE: LVS) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Las Vegas Sands Corp. (NYSE: LVS) now has a 50-day MA of $58.88 and 200-day MA of $52.19. It has traded in a 52-week range between $34.88 – 63.38 and today’s last price is 1.48%% lower than the 52 week high of $63.38.
Earnings growth is an important factor to consider when investing in stocks and investors identify companies that have grown their earnings at least 25% or more over 3 consecutive years.
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