Las Vegas Sands Corp. (NYSE:LVS) Downgraded to Hold at Zacks Investment Research
Las Vegas Sands Corp. (NYSE:LVS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Las Vegas Sands’ second-quarter adjusted earnings of $0.73 topped the Zacks Consensus Estimate by 10.7% and rose 37.7% year over year due to higher revenues. Quarterly revenues of $3.14 billion also topped the consensus mark by over 4% and jumped 18.6% year over year given robust performance at its Las Vegas properties and mostly solid results in Macao. Going forward, the company is positive on its Cotai Strip portfolio of properties, buoyed by the addition of The Parisian Macao. In fact, the company’s shares have slightly outpaced the industry over the past six months. However, fears of another corruption crackdown by the authorities may hamper the company’s performance. Concerns related to the sustainability of revenues from the VIP market also linger. Even so, focus on diversification and growth in the mass and non-gaming market in Macao bodes well. High occupancy rates at the Las Vegas properties should also drive growth.”
LVS has been the subject of several other research reports. CLSA reissued a “buy” rating on shares of Las Vegas Sands Corp. in a research note on Thursday, April 27th. Bank of America Corporation reissued a “buy” rating and set a $67.00 target price (up previously from $65.00) on shares of Las Vegas Sands Corp. in a research note on Friday, July 21st. Aegis reissued a “buy” rating and set a $60.00 target price (up previously from $59.00) on shares of Las Vegas Sands Corp. in a research note on Sunday, April 23rd. Stifel Nicolaus lowered their target price on Las Vegas Sands Corp. from $65.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 10th. Finally, Barclays PLC raised Las Vegas Sands Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $68.00 in a research note on Friday, May 12th. Eleven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Las Vegas Sands Corp. has an average rating of “Buy” and an average target price of $62.65.
Shares of Las Vegas Sands Corp. (LVS) traded up 0.31% during midday trading on Friday, reaching $60.97. 1,898,359 shares of the company’s stock were exchanged. Las Vegas Sands Corp. has a 12 month low of $49.76 and a 12 month high of $66.22. The company’s 50 day moving average is $63.06 and its 200-day moving average is $58.06. The stock has a market cap of $48.29 billion, a PE ratio of 23.72 and a beta of 1.81.
Las Vegas Sands Corp. (NYSE:LVS) last issued its earnings results on Wednesday, July 26th. The casino operator reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.14. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.01 billion. Las Vegas Sands Corp. had a return on equity of 29.31% and a net margin of 16.66%. The business’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities analysts forecast that Las Vegas Sands Corp. will post $2.73 EPS for the current fiscal year.
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A number of hedge funds have recently made changes to their positions in LVS. TrimTabs Asset Management LLC boosted its stake in shares of Las Vegas Sands Corp. by 88.8% in the first quarter. TrimTabs Asset Management LLC now owns 1,837 shares of the casino operator’s stock valued at $105,000 after buying an additional 864 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Las Vegas Sands Corp. by 8.3% in the second quarter. Global X Management Co. LLC now owns 1,653 shares of the casino operator’s stock valued at $106,000 after buying an additional 126 shares during the last quarter. Financial Architects Inc boosted its stake in shares of Las Vegas Sands Corp. by 226.1% in the first quarter. Financial Architects Inc now owns 1,875 shares of the casino operator’s stock valued at $107,000 after buying an additional 1,300 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Las Vegas Sands Corp. during the first quarter valued at approximately $119,000. Finally, Nikko Asset Management Americas Inc. bought a new stake in shares of Las Vegas Sands Corp. during the first quarter valued at approximately $154,000. Institutional investors and hedge funds own 38.31% of the company’s stock.
About Las Vegas Sands Corp.
Las Vegas Sands Corp. is a developer of destination properties (integrated resorts) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The Company owns and operates integrated resorts in Asia and the United States.
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