Las Vegas Sands (NYSE:LVS) Price Target Raised to $70.00

Key Points

• Las Vegas Sands has had its price target raised by JPMorgan Chase from $60.00 to $70.00, indicating a potential upside of 23.42% based on its current price.
• Analysts show a positive outlook with various ratings: two Strong Buy, eleven Buy, and five Hold, resulting in an average rating of "Moderate Buy" and a consensus price target of $63.33.
• The company reported impressive earnings, beating analysts' expectations with an EPS of $0.78 and a 24.2% increase in revenue year-over-year.

Las Vegas Sands (NYSE:LVS - Get Free Report) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $60.00 to $70.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the casino operator's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 23.42% from the stock's current price.

Several other analysts have also recently weighed in on LVS. Citigroup restated a "buy" rating on shares of Las Vegas Sands in a research report on Wednesday, July 9th. UBS Group raised their price objective on shares of Las Vegas Sands from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Thursday, August 28th. Argus raised their price objective on shares of Las Vegas Sands from $60.00 to $65.00 in a research report on Tuesday, September 23rd. The Goldman Sachs Group lowered their price objective on shares of Las Vegas Sands from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 1st. Finally, Zacks Research upgraded shares of Las Vegas Sands from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.33.

Las Vegas Sands Price Performance

NYSE:LVS traded up $6.10 during trading hours on Thursday, hitting $56.72. The stock had a trading volume of 7,334,593 shares, compared to its average volume of 5,595,850. The company has a 50 day simple moving average of $53.23 and a two-hundred day simple moving average of $46.37. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.22 and a quick ratio of 1.21. Las Vegas Sands has a one year low of $30.18 and a one year high of $58.05. The firm has a market capitalization of $38.93 billion, a price-to-earnings ratio of 28.63, a P/E/G ratio of 1.82 and a beta of 1.01.

Las Vegas Sands (NYSE:LVS - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The casino operator reported $0.78 EPS for the quarter, beating the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a net margin of 12.16% and a return on equity of 55.37%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm earned $0.44 EPS. The business's quarterly revenue was up 24.2% compared to the same quarter last year. Research analysts forecast that Las Vegas Sands will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Las Vegas Sands

Hedge funds have recently modified their holdings of the company. Horizon Kinetics Asset Management LLC lifted its stake in shares of Las Vegas Sands by 0.3% in the second quarter. Horizon Kinetics Asset Management LLC now owns 61,993 shares of the casino operator's stock worth $2,697,000 after buying an additional 213 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Las Vegas Sands by 37.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator's stock worth $38,000 after buying an additional 239 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Las Vegas Sands by 21.4% in the second quarter. Harbour Investments Inc. now owns 1,401 shares of the casino operator's stock worth $61,000 after buying an additional 247 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Las Vegas Sands by 1.5% in the second quarter. Wealthfront Advisers LLC now owns 18,189 shares of the casino operator's stock worth $791,000 after buying an additional 273 shares in the last quarter. Finally, Center for Financial Planning Inc. lifted its stake in shares of Las Vegas Sands by 31.3% in the second quarter. Center for Financial Planning Inc. now owns 1,440 shares of the casino operator's stock worth $63,000 after buying an additional 343 shares in the last quarter. Hedge funds and other institutional investors own 39.16% of the company's stock.

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.

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