Las Vegas Sands Corp. Downgraded to Neutral at Zacks (LVS)
Las Vegas Sands Corp. (NYSE:LVS) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday. They currently have a $76.00 target price on the stock. Zacks‘s price objective would suggest a potential upside of 4.50% from the company’s current price.
Zacks’ analyst wrote, “We revert to a Neutral recommendation on Las Vegas Sands Corp. from Outperform, despite strong first quarter results, owing to broader macro pressure in the countries where it operates. Las Vegas Sands’ first quarter earnings of $0.97 per share beat the Zacks Consensus Estimate by 5.4% and increased 36.6% year over year on the back of a better-than-expected top line performance. Revenues increased year over year mainly due to higher revenues at Macau and Singapore. However, a sustained weakness in demand in the U.S., along with China’s crackdown on illegal money transfers, credit growth concerns, tighter restrictions on visas and an impending smoking ban in the casinos led to the downgrade. Nevertheless, we expect its strong brand portfolio and solid mass market revenues and increasing traffic in Macau to bode well for the company. “
A number of other analysts have also recently weighed in on LVS. Analysts at Telsey Advisory Group cut their price target on shares of Las Vegas Sands Corp. from $88.00 to $84.00 in a research note on Monday. They now have a “not rated” rating on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Las Vegas Sands Corp. in a research note on Thursday, June 5th. They now have a $90.00 price target on the stock. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Las Vegas Sands Corp. in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $82.19.
Las Vegas Sands Corp. (NYSE:LVS) traded up 1.44% during mid-day trading on Friday, hitting $73.78. The stock had a trading volume of 1,835,368 shares. Las Vegas Sands Corp. has a 52 week low of $47.95 and a 52 week high of $88.28. The stock’s 50-day moving average is $75.80 and its 200-day moving average is $78.01. The company has a market cap of $60.113 billion and a price-to-earnings ratio of 23.86. Las Vegas Sands Corp. also was the recipient of a large growth in short interest during the month of May. As of May 30th, there was short interest totalling 13,845,072 shares, a growth of 37.1% from the May 15th total of 10,098,189 shares. Approximately 3.7% of the company’s shares are sold short. Based on an average daily trading volume, of 4,651,796 shares, the short-interest ratio is currently 3.0 days.
Las Vegas Sands Corp. (NYSE:LVS) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.93 by $0.04. The company had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. Analysts expect that Las Vegas Sands Corp. will post $3.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 30th. Investors of record on Friday, June 20th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Wednesday, June 18th.
Las Vegas Sands Corp. is a developer of destination properties (NYSE:LVS) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities.
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