Las Vegas Sands Corp.’s “Neutral” Rating Reaffirmed at Zacks (LVS)
Las Vegas Sands Corp. (NYSE:LVS)‘s stock had its “neutral” rating reissued by Zacks in a report issued on Friday. They currently have a $71.00 price target on the stock. Zacks‘s price objective would suggest a potential upside of 4.95% from the stock’s previous close.
Zacks’ analyst wrote, “Las Vegas Sands posted lower-than-expected second quarter results. Adjusted earnings of $0.85 per share missed the Zacks Consensus Estimate by 4.5%, possibly due to a sluggish Macau market. Quarterly net revenue of $3.62 billion also missed the consensus mark by 5%. The slowdown can be attributed to the fact that high-stake gamblers are curtailing spending amid a cooling Chinese economy. However, revenues increased 11.7% year over year owing to its solid positioning in Sands Cotai Central. Also, earnings increased 30.8% year over year driven by an increase in revenues and margins. Currently, strong growth in the mass market is mitigating the effects of a slowdown in the VIP gaming business. Despite a sluggish Chinese economy, the company’s strong brand portfolio, solid mass market revenues and increasing traffic in Macau keep it well-positioned. However, concerns related to China’s crackdown on illegal money transfers, tighter restrictions on visas and an impending smoking ban in the casinos remain. We maintain our Neutral recommendation on the stock.”
A number of other analysts have also recently weighed in on LVS. Analysts at Sterne Agee reiterated a “buy” rating on shares of Las Vegas Sands Corp. in a research note on Friday, August 15th. They now have a $84.00 price target on the stock, down previously from $92.00. Separately, analysts at Craig Hallum upgraded shares of Las Vegas Sands Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $83.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Las Vegas Sands Corp. in a research note on Monday, July 21st. They now have a $87.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $82.29.
Las Vegas Sands Corp. (NYSE:LVS) traded down 2.29% during mid-day trading on Friday, hitting $66.10. The stock had a trading volume of 4,403,028 shares. Las Vegas Sands Corp. has a one year low of $55.96 and a one year high of $88.28. The stock’s 50-day moving average is $71. and its 200-day moving average is $76.35. The company has a market cap of $53.345 billion and a P/E ratio of 20.89. Las Vegas Sands Corp. also was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 20,278,005 shares, a growth of 20.0% from the July 31st total of 16,899,545 shares. Approximately 5.4% of the shares of the stock are sold short. Based on an average daily volume of 5,806,616 shares, the days-to-cover ratio is currently 3.5 days.
Las Vegas Sands Corp. (NYSE:LVS) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $0.85 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.91 by $0.06. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that Las Vegas Sands Corp. will post $3.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 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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