Las Vegas Sands (NYSE:LVS) Price Target Raised to $62.00

Las Vegas Sands (NYSE:LVS) had its price objective hoisted by JPMorgan Chase & Co. from $60.00 to $62.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company lifted their price target on 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 boosted their target price on shares of Las Vegas Sands from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Susquehanna upped their target price on shares of Las Vegas Sands from $51.00 to $59.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Morgan Stanley lifted their price target on shares of Las Vegas Sands from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Barclays boosted their price objective on shares of Las Vegas Sands from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.42.

Las Vegas Sands Trading Up 0.1 %

NYSE:LVS opened at $53.87 on Friday. The company has a 50-day moving average price of $51.85 and a 200-day moving average price of $45.63. The stock has a market cap 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. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 3.09. Las Vegas Sands has a 12 month low of $36.62 and a 12 month high of $56.60.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 23rd. The casino operator reported $0.44 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.09). The company 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 business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.55 earnings per share. Equities analysts predict that Las Vegas Sands will post 2.33 EPS for the current year.

Las Vegas Sands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Tuesday, November 5th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $0.80 dividend on an annualized basis and a yield of 1.49%. Las Vegas Sands’s payout ratio is currently 39.60%.

Insider Activity 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 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 owns 60,187 shares of the company’s stock, valued at approximately $3,129,724. The trade was a 28.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert G. Goldstein sold 60,187 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $53.02, for a total transaction of $3,191,114.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 203,732 shares of company stock valued at $10,861,707. 0.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Las Vegas Sands

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of 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 worth $502,307,000 after buying an additional 1,536,754 shares during the last quarter. 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 acquiring an additional 5,612,975 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of 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 valued at $376,136,000 after acquiring an additional 68,568 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Las Vegas Sands by 1.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,627,422 shares of the casino operator’s stock valued at $283,284,000 after acquiring an additional 77,807 shares during the period. Finally, ARGA Investment Management LP raised its holdings in Las Vegas Sands by 24.8% in the 3rd quarter. ARGA Investment Management LP now owns 4,924,340 shares of the casino operator’s stock worth $247,891,000 after purchasing an additional 977,636 shares during the period. 39.16% of the stock is currently owned by hedge funds and other 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.