JPMorgan Chase & Co. Issues Positive Forecast for Las Vegas Sands (NYSE:LVS) Stock Price

Las Vegas Sands (NYSE:LVS) had its target price upped by equities researchers at JPMorgan Chase & Co. from $60.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 15.24% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Argus cut Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Las Vegas Sands from $53.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. UBS Group lifted their target price on Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Mizuho increased their target price on shares of Las Vegas Sands from $52.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays lifted their price target on shares of Las Vegas Sands from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.17.

Las Vegas Sands Price Performance

Shares of NYSE LVS opened at $53.80 on Friday. Las Vegas Sands has a 1 year low of $36.62 and a 1 year high of $56.60. The stock has a market capitalization of $39.01 billion, a P/E ratio of 26.63, a P/E/G ratio of 1.44 and a beta of 1.10. The company’s 50-day moving average is $51.82 and its 200 day moving average is $45.55. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.90 and a quick ratio of 0.89.

Las Vegas Sands (NYSE:LVS) last posted its earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). The firm had revenue of $2.68 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Las Vegas Sands had a return on equity of 44.26% and a net margin of 13.29%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. On average, sell-side analysts expect that Las Vegas Sands will post 2.33 earnings per share for the current year.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 24,324 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $52.00, for a total transaction of $1,264,848.00. Following the sale, the chief executive officer now directly owns 60,187 shares of the company’s stock, valued at $3,129,724. The trade was a 28.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert G. Goldstein sold 60,187 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $53.02, for a total value of $3,191,114.74. The disclosure for this sale can be found here. Insiders sold 203,732 shares of company stock worth $10,861,707 in the last quarter. 0.91% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Las Vegas Sands by 159.6% during the 3rd quarter. Janus Henderson Group PLC now owns 9,130,486 shares of the casino operator’s stock worth $459,630,000 after purchasing an additional 5,612,975 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Las Vegas Sands by 987.0% during the second quarter. The Manufacturers Life Insurance Company now owns 5,549,615 shares of the casino operator’s stock valued at $245,570,000 after buying an additional 5,039,072 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Las Vegas Sands by 15.7% during the second 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 buying an additional 1,536,754 shares during the last quarter. Charles Lim Capital Ltd raised its holdings in shares of Las Vegas Sands by 178.3% in the second quarter. Charles Lim Capital Ltd now owns 1,600,000 shares of the casino operator’s stock worth $70,800,000 after buying an additional 1,025,000 shares during the period. Finally, ARGA Investment Management LP raised its holdings in shares of Las Vegas Sands by 24.8% in the third quarter. ARGA Investment Management LP now owns 4,924,340 shares of the casino operator’s stock worth $247,891,000 after buying an additional 977,636 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.