Las Vegas Sands Corp. Downgraded by Argus (LVS)
Las Vegas Sands Corp. (NYSE:LVS) was downgraded by research analysts at Argus from a “buy” rating to a “hold” rating in a report released on Thursday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Las Vegas Sands Corp. in a research note on Friday, August 29th. They now have a $71.00 price target on the stock. Separately, 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. Finally, 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. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $81.40.
Las Vegas Sands Corp. (NYSE:LVS) opened at 63.54 on Thursday. Las Vegas Sands Corp. has a 52-week low of $58.03 and a 52-week high of $88.28. The stock has a 50-day moving average of $70.17 and a 200-day moving average of $76.02. The company has a market cap of $51.279 billion and a price-to-earnings ratio of 19.49. Las Vegas Sands Corp. also saw a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 20,278,005 shares, an increase of 20.0% from the July 31st total of 16,899,545 shares. Based on an average daily volume of 5,806,616 shares, the days-to-cover ratio is currently 3.5 days. Currently, 5.4% of the company’s shares are sold short.
Las Vegas Sands Corp. (NYSE:LVS) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. Analysts expect that Las Vegas Sands Corp. will post $3.70 EPS for the current fiscal year.
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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