Las Vegas Sands (NYSE:LVS) Price Target Lowered to $64.00 at JPMorgan Chase & Co.

Las Vegas Sands (NYSE:LVS) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $68.00 to $64.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the casino operator’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 42.92% from the stock’s previous close.

Several other brokerages also recently weighed in on LVS. Morgan Stanley increased their price target on Las Vegas Sands from $67.00 to $69.00 and gave the stock an “equal weight” rating in a report on Thursday, April 23rd. Wall Street Zen downgraded Las Vegas Sands from a “buy” rating to a “hold” rating in a research report on Sunday. Mizuho upped their price objective on Las Vegas Sands from $65.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Seaport Research Partners decreased their target price on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Finally, UBS Group set a $52.00 target price on Las Vegas Sands in a research report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Las Vegas Sands has a consensus rating of “Moderate Buy” and a consensus price target of $65.81.

Las Vegas Sands Price Performance

LVS stock opened at $44.78 on Wednesday. The stock has a market cap of $29.67 billion, a PE ratio of 16.58, a P/E/G ratio of 1.04 and a beta of 0.83. Las Vegas Sands has a 12 month low of $44.59 and a 12 month high of $70.45. The company has a 50-day moving average price of $49.29 and a 200 day moving average price of $54.26. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64.

Las Vegas Sands (NYSE:LVS) last posted its quarterly earnings data on Wednesday, April 22nd. The casino operator reported $0.91 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.32 billion. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities research analysts anticipate that Las Vegas Sands will post 3.38 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Mackenzie Financial Corp grew its holdings in shares of Las Vegas Sands by 0.3% during the 3rd quarter. Mackenzie Financial Corp now owns 53,945 shares of the casino operator’s stock worth $2,902,000 after purchasing an additional 156 shares during the period. Parallel Advisors LLC increased its position in Las Vegas Sands by 7.8% during the 3rd quarter. Parallel Advisors LLC now owns 2,449 shares of the casino operator’s stock worth $132,000 after purchasing an additional 177 shares in the last quarter. &PARTNERS raised its holdings in Las Vegas Sands by 3.2% in the fourth quarter. &PARTNERS now owns 6,930 shares of the casino operator’s stock valued at $453,000 after buying an additional 214 shares during the period. United Capital Financial Advisors LLC raised its holdings in Las Vegas Sands by 5.5% in the third quarter. United Capital Financial Advisors LLC now owns 4,945 shares of the casino operator’s stock valued at $266,000 after buying an additional 258 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its position in Las Vegas Sands by 4.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,859 shares of the casino operator’s stock valued at $446,000 after buying an additional 279 shares in the last quarter. 39.16% of the stock is currently owned by hedge funds and other institutional investors.

About Las Vegas Sands

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.