JPMorgan Chase & Co. Boosts Las Vegas Sands (NYSE:LVS) Price Target to $60.00

Las Vegas Sands (NYSE:LVS) had its price target upped by research analysts at JPMorgan Chase & Co. from $53.00 to $60.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 17.44% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company increased their target price on shares of Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Susquehanna reduced their price objective on Las Vegas Sands from $59.00 to $51.00 and set a “positive” rating on the stock in a research note on Thursday, July 25th. Argus cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. UBS Group lowered Las Vegas Sands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $70.00 to $49.00 in a research report on Friday, August 23rd. Finally, Barclays lowered their price objective 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. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Las Vegas Sands has an average rating of “Moderate Buy” and a consensus target price of $56.25.

Las Vegas Sands Trading Down 2.3 %

Shares of LVS traded down $1.18 during midday trading on Tuesday, hitting $51.09. 2,761,965 shares of the stock were exchanged, compared to its average volume of 5,810,503. Las Vegas Sands has a 52-week low of $36.62 and a 52-week high of $55.65. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a fifty day simple moving average of $43.21 and a 200 day simple moving average of $44.42. The firm has a market cap of $38.06 billion, a P/E ratio of 24.70, a P/E/G ratio of 1.48 and a beta of 1.12.

Las Vegas Sands (NYSE:LVS) last announced its earnings results 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 firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Las Vegas Sands had a net margin of 14.08% and a return on equity of 44.41%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.46 earnings per share. On average, research analysts anticipate that Las Vegas Sands will post 2.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Las Vegas Sands

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Las Vegas Sands by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 37,107,775 shares of the casino operator’s stock valued at $1,918,472,000 after purchasing an additional 209,589 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Las Vegas Sands by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,170,552 shares of the casino operator’s stock valued at $1,663,219,000 after acquiring an additional 531,799 shares during the period. Bank of New York Mellon Corp raised its stake in Las Vegas Sands by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,351,573 shares of the casino operator’s stock valued at $502,307,000 after acquiring an additional 1,536,754 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Las Vegas Sands by 0.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,500,248 shares of the casino operator’s stock worth $376,136,000 after acquiring an additional 68,568 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Las Vegas Sands by 987.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,549,615 shares of the casino operator’s stock valued at $245,570,000 after purchasing an additional 5,039,072 shares during the last quarter. Institutional investors and hedge funds 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.