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

Las Vegas Sands (NYSE:LVS) had its target price boosted by JPMorgan Chase & Co. from $60.00 to $70.00 in a report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the casino operator’s stock.

Several other equities analysts have also recently issued reports on LVS. Barclays boosted their price target on Las Vegas Sands from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America upped their price target on Las Vegas Sands from $52.50 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Stifel Nicolaus boosted their price objective on shares of Las Vegas Sands from $60.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group raised their target price on shares of Las Vegas Sands from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, August 28th. Finally, Zacks Research upgraded shares of Las Vegas Sands from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.73.

Las Vegas Sands Stock Up 1.2%

Shares of Las Vegas Sands stock opened at $57.55 on Thursday. Las Vegas Sands has a 52-week low of $30.18 and a 52-week high of $58.29. The company has a 50 day moving average of $53.36 and a 200 day moving average of $46.84. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 6.53. The company has a market capitalization of $39.51 billion, a P/E ratio of 26.04, a P/E/G ratio of 2.04 and a beta of 1.01.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 22nd. The casino operator reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.16. Las Vegas Sands had a net margin of 12.69% and a return on equity of 66.94%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period last year, the firm posted $0.44 EPS. Las Vegas Sands’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, research analysts forecast that Las Vegas Sands will post 2.6 EPS for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 12th. Stockholders of record on Tuesday, November 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Tuesday, November 4th. Las Vegas Sands’s dividend payout ratio (DPR) is presently 45.25%.

Institutional Investors Weigh In On Las Vegas Sands

A number of institutional investors and hedge funds have recently modified their holdings of the company. Total Investment Management Inc. acquired a new position in Las Vegas Sands during the second quarter worth $25,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Las Vegas Sands by 37.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 876 shares of the casino operator’s stock valued at $38,000 after purchasing an additional 239 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Las Vegas Sands in the second quarter valued at $41,000. CYBER HORNET ETFs LLC purchased a new position in shares of Las Vegas Sands in the 2nd quarter worth $42,000. Finally, FNY Investment Advisers LLC acquired a new position in Las Vegas Sands in the second quarter valued at $43,000. Institutional investors and hedge funds own 39.16% of the company’s stock.

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.