Las Vegas Sands (NYSE:LVS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Las Vegas Sands (NYSE:LVS) had its price objective boosted by JPMorgan Chase & Co. from $60.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 15.09% from the company’s previous close.

A number of other research firms also recently issued reports on LVS. Susquehanna increased their price objective on shares of Las Vegas Sands from $51.00 to $59.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Morgan Stanley lifted their price target on Las Vegas Sands from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Barclays lifted their target price on Las Vegas Sands from $52.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Argus lowered shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Las Vegas Sands presently has an average rating of “Moderate Buy” and an average price target of $58.42.

Las Vegas Sands Price Performance

Shares of LVS stock opened at $53.87 on Friday. Las Vegas Sands has a twelve month low of $36.62 and a twelve month high of $56.60. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 3.09. The stock has a fifty day simple moving average of $51.85 and a two-hundred day simple moving average of $45.62. The stock has a market capitalization of $39.06 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.44 and a beta of 1.10.

Las Vegas Sands (NYSE:LVS) last released its quarterly earnings data 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 business had revenue of $2.68 billion during 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% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. On average, analysts predict that Las Vegas Sands will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Robert G. Goldstein sold 24,324 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $52.00, for a total value of $1,264,848.00. Following the completion of the transaction, the chief executive officer now directly owns 60,187 shares in the company, valued at $3,129,724. This trade represents a 28.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert G. Goldstein sold 60,187 shares of the company’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. In the last 90 days, insiders sold 203,732 shares of company stock valued at $10,861,707. 0.91% of the stock is owned by company insiders.

Institutional Investors Weigh In On Las Vegas Sands

Several hedge funds have recently added to or reduced their stakes in LVS. Janus Henderson Group PLC boosted its position in Las Vegas Sands by 159.6% in 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 in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in 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 worth $245,570,000 after buying an additional 5,039,072 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Las Vegas Sands by 15.7% in 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 in the last quarter. Charles Lim Capital Ltd raised its position 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 acquiring an additional 1,025,000 shares during the period. Finally, ARGA Investment Management LP raised its position 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 acquiring an additional 977,636 shares during the period. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Company Profile

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.