JPMorgan Chase & Co. Lowers Las Vegas Sands (NYSE:LVS) Price Target to $55.00

Las Vegas Sands (NYSE:LVS) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $59.00 to $55.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 20.99% from the stock’s current price.

Several other equities research analysts also recently weighed in on LVS. StockNews.com raised shares of Las Vegas Sands from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their target price on shares of Las Vegas Sands from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Barclays boosted their target price on shares of Las Vegas Sands from $57.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. Finally, Mizuho assumed coverage on shares of Las Vegas Sands in a research report on Tuesday, March 26th. They issued a “buy” rating and a $70.00 target price for the company. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.47.

Las Vegas Sands Stock Performance

Shares of LVS stock opened at $45.46 on Thursday. Las Vegas Sands has a 12 month low of $43.77 and a 12 month high of $65.58. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.31 and a quick ratio of 1.30. The firm has a market capitalization of $34.15 billion, a P/E ratio of 21.96, a P/E/G ratio of 0.75 and a beta of 1.16. The company’s fifty day moving average price is $52.06 and its two-hundred day moving average price is $49.59.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, April 17th. The casino operator reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. Las Vegas Sands had a net margin of 13.99% and a return on equity of 41.81%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The firm’s revenue was up 34.9% compared to the same quarter last year. On average, research analysts anticipate that Las Vegas Sands will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Las Vegas Sands

In other Las Vegas Sands news, CEO Robert G. Goldstein sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $52.06, for a total value of $5,206,000.00. Following the sale, the chief executive officer now owns 172,801 shares in the company, valued at $8,996,020.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.91% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norden Group LLC bought a new position in shares of Las Vegas Sands in the first quarter valued at approximately $928,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Las Vegas Sands by 1.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 837,030 shares of the casino operator’s stock valued at $43,274,000 after acquiring an additional 14,723 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Las Vegas Sands by 9.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 16,075 shares of the casino operator’s stock valued at $831,000 after acquiring an additional 1,408 shares in the last quarter. Hengehold Capital Management LLC bought a new position in shares of Las Vegas Sands in the first quarter valued at approximately $217,000. Finally, ARGA Investment Management LP boosted its holdings in shares of Las Vegas Sands by 6.4% in the first quarter. ARGA Investment Management LP now owns 3,308,987 shares of the casino operator’s stock valued at $171,075,000 after acquiring an additional 198,413 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

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.