Las Vegas Sands Corp. (LVS) Cut 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 research report issued on Friday.
According to Zacks, “Las Vegas Sands’ Q3 adjusted earnings of 77 cents surpassed the Zacks Consensus Estimate by 14.9% and rose 8.5% year over year on higher revenues. Quarterly revenues of $3.2 billion also topped the consensus mark by nearly 3% and jumped 7.7% year over year given robust results at Parsian Macao and Marina Bay Sands. The company is positive on the prospects of The Parisian Macao and expects it to deliver continued growth in the long haul. In fact, the company’s planned investment of over $1.1 billion in new capital projects in Macao over the next three years, given the continual revival of gaming revenues therein, also bodes well for long-term growth. High occupancy rates at the Las Vegas properties are likely to further drive growth. Its shares have also outperformed the industry in the past six months. However, fears of another corruption crackdown by the authorities, Intense competition and high debt burden raise concern.”
Other analysts have also issued research reports about the company. Morgan Stanley boosted their target price on Las Vegas Sands Corp. from $63.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $70.00 price objective (up previously from $66.00) on shares of Las Vegas Sands Corp. in a research report on Tuesday, July 18th. Instinet reaffirmed a “neutral” rating on shares of Las Vegas Sands Corp. in a research report on Monday, July 17th. Telsey Advisory Group upped their price objective on Las Vegas Sands Corp. from $64.00 to $66.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Finally, Gabelli upped their price objective on Las Vegas Sands Corp. from $60.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Las Vegas Sands Corp. presently has an average rating of “Buy” and an average price target of $65.31.
Shares of Las Vegas Sands Corp. (LVS) traded down $0.02 during midday trading on Friday, reaching $67.40. The company’s stock had a trading volume of 1,877,700 shares, compared to its average volume of 3,317,099. The stock has a market capitalization of $53,294.16, a price-to-earnings ratio of 24.25 and a beta of 1.78. The company has a current ratio of 1.07, a quick ratio of 1.19 and a debt-to-equity ratio of 1.38. Las Vegas Sands Corp. has a 52 week low of $51.35 and a 52 week high of $68.41.
Las Vegas Sands Corp. (NYSE:LVS) last announced its earnings results on Wednesday, October 25th. The casino operator reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.14 billion. Las Vegas Sands Corp. had a return on equity of 31.11% and a net margin of 16.80%. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 earnings per share. analysts predict that Las Vegas Sands Corp. will post 2.87 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trexquant Investment LP acquired a new position in Las Vegas Sands Corp. in the third quarter valued at $2,435,000. Jackson Wealth Management LLC boosted its stake in Las Vegas Sands Corp. by 3.8% in the third quarter. Jackson Wealth Management LLC now owns 38,995 shares of the casino operator’s stock valued at $2,471,000 after acquiring an additional 1,441 shares in the last quarter. TD Asset Management Inc. boosted its stake in Las Vegas Sands Corp. by 6.6% in the third quarter. TD Asset Management Inc. now owns 100,860 shares of the casino operator’s stock valued at $6,471,000 after acquiring an additional 6,205 shares in the last quarter. American International Group Inc. acquired a new position in Las Vegas Sands Corp. in the third quarter valued at $1,090,000. Finally, Davidson Investment Advisors boosted its stake in Las Vegas Sands Corp. by 19.5% in the third quarter. Davidson Investment Advisors now owns 160,688 shares of the casino operator’s stock valued at $10,309,000 after acquiring an additional 26,227 shares in the last quarter. Institutional investors own 38.27% 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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