Las Vegas Sands (NYSE:LVS) Raised to "Overweight" at JPMorgan Chase & Co.

Key Points

• Las Vegas Sands was upgraded by JPMorgan Chase & Co. from a "neutral" to an "overweight" rating, with a new price target of $60.00, reflecting a potential upside of 22.35% from its current price.
• Recent reports show increasing optimism for Las Vegas Sands, with several analysts raising their price targets and a consensus rating of "Moderate Buy."
• Las Vegas Sands demonstrated strong financial performance, reporting $0.79 earnings per share, surpassing expectations, along with 15% year-over-year revenue growth.

Las Vegas Sands (NYSE:LVS - Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a $60.00 price objective on the casino operator's stock, up from their previous price objective of $56.00. JPMorgan Chase & Co.'s target price points to a potential upside of 22.35% from the stock's current price.

LVS has been the subject of several other reports. Wall Street Zen raised Las Vegas Sands from a "hold" rating to a "buy" rating in a research note on Sunday, September 7th. Argus upped their price target on Las Vegas Sands from $60.00 to $65.00 in a research report on Tuesday, September 23rd. Macquarie raised their price target on Las Vegas Sands from $52.00 to $58.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Zacks Research upgraded Las Vegas Sands from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 10th. Finally, Susquehanna dropped their price target on Las Vegas Sands from $59.00 to $58.00 and set a "positive" rating on the stock in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.47.

Las Vegas Sands Stock Performance

Las Vegas Sands stock opened at $49.04 on Thursday. The company has a market capitalization of $33.66 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.76 and a beta of 1.01. The business has a 50 day moving average of $53.60 and a 200-day moving average of $45.94. 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 1 year low of $30.18 and a 1 year high of $58.05.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The casino operator reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.26. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $2.83 billion. Las Vegas Sands had a return on equity of 55.37% and a net margin of 12.16%.The business's revenue was up 15.0% on a year-over-year basis. During the same period last year, the business earned $0.55 EPS. On average, equities research analysts predict that Las Vegas Sands will post 2.6 earnings per share for the current year.

Institutional Investors Weigh In On Las Vegas Sands

A number of institutional investors and hedge funds have recently bought and sold shares of LVS. Vanguard Group Inc. boosted its holdings in shares of Las Vegas Sands by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 43,072,014 shares of the casino operator's stock valued at $1,874,063,000 after buying an additional 1,822,806 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Las Vegas Sands by 3.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 15,722,816 shares of the casino operator's stock worth $607,373,000 after purchasing an additional 592,321 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Las Vegas Sands by 6.5% during the first quarter. Bank of New York Mellon Corp now owns 12,415,492 shares of the casino operator's stock valued at $479,610,000 after buying an additional 752,944 shares during the period. ARGA Investment Management LP boosted its position in Las Vegas Sands by 36.8% during the second quarter. ARGA Investment Management LP now owns 10,040,975 shares of the casino operator's stock valued at $436,883,000 after purchasing an additional 2,698,398 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Las Vegas Sands by 4.9% in the second quarter. Invesco Ltd. now owns 9,902,619 shares of the casino operator's stock worth $430,863,000 after acquiring an additional 459,821 shares in the last quarter. 39.16% of the stock is owned by hedge funds and other institutional investors.

Las Vegas Sands Company Profile

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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