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

Las Vegas Sands (NYSE:LVS) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $68.00 to $64.00 in a report issued on Wednesday,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 40.29% from the company’s previous close.

Several other analysts have also issued reports on LVS. Mizuho increased their price objective on Las Vegas Sands from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. HSBC boosted their target price on Las Vegas Sands from $73.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Barclays cut their price target on Las Vegas Sands from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Seaport Research Partners reduced their price target on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Finally, Jefferies Financial Group lifted their price target on Las Vegas Sands from $61.00 to $63.00 and gave the company a “hold” rating in a report on Thursday, April 23rd. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.19.

Las Vegas Sands Stock Up 1.9%

Las Vegas Sands stock opened at $45.62 on Wednesday. Las Vegas Sands has a twelve month low of $44.22 and a twelve month high of $70.45. The company has a debt-to-equity ratio of 8.64, a quick ratio of 0.91 and a current ratio of 0.92. The firm has a market cap of $30.23 billion, a PE ratio of 16.90, a P/E/G ratio of 1.01 and a beta of 0.83. The firm’s 50 day moving average price is $48.95 and its two-hundred day moving average price is $53.96.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.15. Las Vegas Sands had a net margin of 13.41% and a return on equity of 118.27%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.32 billion. During the same quarter last year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, research analysts predict that Las Vegas Sands will post 3.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Las Vegas Sands

Several hedge funds have recently bought and sold shares of LVS. Wedge Capital Management L L P NC lifted its position in shares of Las Vegas Sands by 16.7% in the second quarter. Wedge Capital Management L L P NC now owns 710,484 shares of the casino operator’s stock worth $32,817,000 after buying an additional 101,891 shares during the last quarter. Tema ETFs LLC boosted its stake in shares of Las Vegas Sands by 9.5% during the 2nd quarter. Tema ETFs LLC now owns 6,695 shares of the casino operator’s stock worth $309,000 after acquiring an additional 580 shares in the last quarter. Carolina Wealth Advisors LLC increased its holdings in shares of Las Vegas Sands by 1.5% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 27,578 shares of the casino operator’s stock valued at $1,274,000 after acquiring an additional 407 shares during the last quarter. Czech National Bank increased its holdings in shares of Las Vegas Sands by 3.1% during the 2nd quarter. Czech National Bank now owns 84,871 shares of the casino operator’s stock valued at $3,920,000 after acquiring an additional 2,529 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Las Vegas Sands by 45.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 822,268 shares of the casino operator’s stock valued at $37,981,000 after acquiring an additional 255,623 shares during the last quarter. 39.16% of the stock is owned by institutional investors and hedge funds.

Las Vegas Sands Company Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.