Las Vegas Sands (NYSE:LVS) Given New $71.00 Price Target at JPMorgan Chase & Co.

Las Vegas Sands (NYSE:LVS) had its target price lifted by JPMorgan Chase & Co. from $70.00 to $71.00 in a research report report published on Friday morning,MarketScreener reports. The brokerage currently has an overweight rating on the casino operator’s stock.

Several other research firms have also commented on LVS. Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands from $60.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Mizuho boosted their price target on Las Vegas Sands from $56.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. Wall Street Zen raised Las Vegas Sands from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 17th. UBS Group lifted their price objective on Las Vegas Sands from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, December 8th. Finally, Argus increased their target price on Las Vegas Sands from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, December 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.12.

Las Vegas Sands Price Performance

Shares of LVS stock opened at $59.93 on Friday. The business’s fifty day moving average is $64.54 and its 200 day moving average is $57.79. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 7.42. The stock has a market cap of $40.52 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.45 and a beta of 0.97. Las Vegas Sands has a twelve month low of $30.18 and a twelve month high of $70.45.

Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.16. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Las Vegas Sands had a net margin of 12.69% and a return on equity of 73.14%. The company’s quarterly revenue was up 24.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. Research analysts expect that Las Vegas Sands will post 2.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Patrick Dumont sold 135,603 shares of Las Vegas Sands stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $67.96, for a total value of $9,215,579.88. Following the completion of the sale, the chief operating officer directly owned 446,608 shares in the company, valued at $30,351,479.68. The trade was a 23.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert G. Goldstein sold 1,198,650 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $66.68, for a total transaction of $79,925,982.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 5,182,053 shares of company stock worth $333,348,399. 1.20% 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 LVS. Total Investment Management Inc. purchased a new position in shares of Las Vegas Sands in the 2nd quarter worth $25,000. Grove Bank & Trust bought a new position in Las Vegas Sands in the fourth quarter valued at about $26,000. Westside Investment Management Inc. boosted its position in Las Vegas Sands by 48.0% in the third quarter. Westside Investment Management Inc. now owns 512 shares of the casino operator’s stock worth $28,000 after purchasing an additional 166 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Las Vegas Sands during the 3rd quarter valued at about $33,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Las Vegas Sands by 549.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 630 shares of the casino operator’s stock valued at $35,000 after purchasing an additional 533 shares during the period. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

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.