Las Vegas Sands (NYSE:LVS) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Key Points

• JPMorgan cut Las Vegas Sands’ price target from $60 to $54 while maintaining an “overweight” rating, implying approximately 42% upside from the stock’s $38.02 price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $58.39, despite target reductions from JPMorgan, Stifel Nicolaus and Mizuho.
• Las Vegas Sands recently missed quarterly expectations, reporting $0.59 in earnings per share versus the $0.76 consensus estimate and revenue of $3.15 billion versus $3.31 billion expected.

Las Vegas Sands (NYSE:LVS - Get Free Report) had its target price cut by equities researchers at JPMorgan Chase & Co. from $60.00 to $54.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the casino operator's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 42.05% from the stock's current price.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus cut their price target on shares of Las Vegas Sands from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday. UBS Group set a $52.00 price objective on shares of Las Vegas Sands in a research note on Thursday, July 2nd. Wolfe Research initiated coverage on shares of Las Vegas Sands in a research report on Wednesday, September 2nd. They issued a "peer perform" rating for the company. Mizuho cut their target price on shares of Las Vegas Sands from $67.00 to $61.00 and set an "outperform" rating on the stock in a research note on Thursday, July 23rd. Finally, Zacks Research raised shares of Las Vegas Sands from a "strong sell" rating to a "hold" rating in a research note on Monday, October 5th. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $58.39.

Las Vegas Sands Trading Up 0.0%

NYSE:LVS traded up $0.01 on Tuesday, hitting $38.02. 2,200,784 shares of the stock were exchanged, compared to its average volume of 5,066,635. The stock has a fifty day moving average of $41.55 and a 200-day moving average of $47.09. The stock has a market cap of $24.62 billion, a PE ratio of 14.78, a PEG ratio of 0.94 and a beta of 0.78. The company has a current ratio of 1.00, a quick ratio of 0.99 and a debt-to-equity ratio of 15.27. Las Vegas Sands has a fifty-two week low of $35.28 and a fifty-two week high of $70.45.

Las Vegas Sands (NYSE:LVS - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.17). Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the prior year, the firm earned $0.66 earnings per share. The business's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts expect that Las Vegas Sands will post 3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds have recently modified their holdings of the stock. Pension & Wealth Management Advisors Inc. grew its position in shares of Las Vegas Sands by 13.9% in the second quarter. Pension & Wealth Management Advisors Inc. now owns 2,012 shares of the casino operator's stock valued at $93,000 after purchasing an additional 245 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in shares of Las Vegas Sands by 0.4% during the first quarter. Resona Asset Management Co. Ltd. now owns 92,093 shares of the casino operator's stock worth $4,921,000 after purchasing an additional 331 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Las Vegas Sands by 73.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 886 shares of the casino operator's stock worth $48,000 after purchasing an additional 375 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Las Vegas Sands by 1.0% during the 1st quarter. Janus Henderson Group PLC now owns 40,491 shares of the casino operator's stock worth $2,132,000 after purchasing an additional 397 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Las Vegas Sands by 7.2% during the 1st quarter. Parallel Advisors LLC now owns 5,988 shares of the casino operator's stock worth $323,000 after purchasing an additional 403 shares during the last quarter. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

Las Vegas Sands Company Profile

Las Vegas Sands Corp. NYSE: LVS is a global developer and operator of integrated resorts, combining hotel accommodations, casinos, convention and exhibition facilities, restaurants, retail outlets, entertainment venues and other leisure amenities. The company serves both mass-market and premium customers through large-scale properties designed to support tourism and business travel.

Las Vegas Sands' principal operations are in Macau and Singapore. Its Macau portfolio includes properties such as The Venetian Macao, The Londoner Macao, The Parisian Macao, Sands Macao and The Plaza Macao.

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