JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Las Vegas Sands (NYSE:LVS) Stock

Las Vegas Sands (NYSE:LVS) had its price target raised by analysts at JPMorgan Chase & Co. from $60.00 to $62.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.24% from the company’s previous close.

A number of other research firms have also weighed in on LVS. Susquehanna upped their price objective on shares of Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research note on Wednesday, October 16th. Mizuho boosted their price target on shares of Las Vegas Sands from $52.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley increased their price objective on shares of Las Vegas Sands from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands from $55.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on Las Vegas Sands from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Las Vegas Sands presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.17.

Las Vegas Sands Price Performance

Las Vegas Sands stock opened at $53.80 on Friday. The stock has a market cap of $39.01 billion, a price-to-earnings ratio of 26.63, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. The firm has a 50-day moving average of $51.82 and a two-hundred day moving average of $45.55. Las Vegas Sands has a 1 year low of $36.62 and a 1 year high of $56.60. 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 announced its quarterly earnings results on Wednesday, October 23rd. The casino operator reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Las Vegas Sands had a net margin of 13.29% and a return on equity of 44.26%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS. On average, research analysts forecast that Las Vegas Sands will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 119,221 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $53.73, for a total transaction of $6,405,744.33. Following the sale, the chief executive officer now owns 84,511 shares in the company, valued at approximately $4,540,776.03. The trade was a 58.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Goldstein sold 60,187 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was 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 three months. Corporate insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On Las Vegas Sands

Large investors have recently bought and sold shares of the company. Empowered Funds LLC raised its position in Las Vegas Sands by 3.6% during the 3rd quarter. Empowered Funds LLC now owns 6,050 shares of the casino operator’s stock worth $305,000 after buying an additional 213 shares during the last quarter. Raymond James Trust N.A. raised its holdings in shares of Las Vegas Sands by 4.7% during the third quarter. Raymond James Trust N.A. now owns 5,062 shares of the casino operator’s stock worth $255,000 after purchasing an additional 229 shares during the last quarter. GAMMA Investing LLC lifted its position in Las Vegas Sands by 40.1% during the third quarter. GAMMA Investing LLC now owns 849 shares of the casino operator’s stock valued at $43,000 after purchasing an additional 243 shares during the period. Signaturefd LLC boosted its holdings in Las Vegas Sands by 7.8% in the third quarter. Signaturefd LLC now owns 3,510 shares of the casino operator’s stock valued at $177,000 after purchasing an additional 253 shares during the last quarter. Finally, Waldron Private Wealth LLC boosted its holdings in Las Vegas Sands by 2.2% in the third quarter. Waldron Private Wealth LLC now owns 12,466 shares of the casino operator’s stock valued at $628,000 after purchasing an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 39.16% of the company’s stock.

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.