Zacks Investment Research Downgrades Las Vegas Sands Corp. (LVS) to Hold

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 Tuesday.

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. Also, high occupancy rates at the Las Vegas properties are likely to drive growth. However, its shares have underperformed the industry in the past six months. Also, fears of another corruption crackdown by the authorities may hamper performance.”

LVS has been the subject of several other reports. Stifel Nicolaus reiterated a “buy” rating on shares of Las Vegas Sands Corp. in a research note on Sunday, September 3rd. UBS AG reiterated a “neutral” rating on shares of Las Vegas Sands Corp. in a research note on Monday, July 10th. Instinet reiterated a “neutral” rating on shares of Las Vegas Sands Corp. in a research note on Monday, July 17th. Deutsche Bank AG lifted their target price on Las Vegas Sands Corp. from $54.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Finally, Nomura lifted their target price on Las Vegas Sands Corp. from $54.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.04.

Shares of Las Vegas Sands Corp. (LVS) traded up 2.85% during midday trading on Tuesday, reaching $63.21. The company’s stock had a trading volume of 2,233,457 shares. The company has a 50-day moving average price of $63.40 and a 200-day moving average price of $61.61. The firm has a market cap of $50.06 billion, a price-to-earnings ratio of 24.60 and a beta of 1.76. Las Vegas Sands Corp. has a 12 month low of $51.35 and a 12 month high of $66.22.

Las Vegas Sands Corp. (NYSE:LVS) last posted its quarterly earnings results on Wednesday, October 25th. The casino operator reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.10. Las Vegas Sands Corp. had a return on equity of 30.84% and a net margin of 16.80%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the company earned $0.72 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Equities analysts expect that Las Vegas Sands Corp. will post $2.85 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This story was published by Community Financial News and is the property of of Community Financial News. If you are accessing this story on another site, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this story can be viewed at https://www.com-unik.info/2017/10/31/zacks-investment-research-downgrades-las-vegas-sands-corp-lvs-to-hold.html.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stephens Inc. AR raised its holdings in Las Vegas Sands Corp. by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 4,389 shares of the casino operator’s stock valued at $280,000 after acquiring an additional 31 shares in the last quarter. Baldwin Investment Management LLC raised its holdings in Las Vegas Sands Corp. by 0.6% in the 2nd quarter. Baldwin Investment Management LLC now owns 6,473 shares of the casino operator’s stock valued at $414,000 after acquiring an additional 40 shares in the last quarter. Lee Financial Co raised its holdings in Las Vegas Sands Corp. by 1.4% in the 2nd quarter. Lee Financial Co now owns 3,091 shares of the casino operator’s stock valued at $197,000 after acquiring an additional 43 shares in the last quarter. Wagner Bowman Management Corp raised its holdings in Las Vegas Sands Corp. by 1.1% in the 2nd quarter. Wagner Bowman Management Corp now owns 5,666 shares of the casino operator’s stock valued at $362,000 after acquiring an additional 61 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Las Vegas Sands Corp. by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 24,878 shares of the casino operator’s stock valued at $1,592,000 after acquiring an additional 94 shares in the last quarter. 38.27% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Las Vegas Sands Corp. (NYSE:LVS)

What are top analysts saying about Las Vegas Sands Corp.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Las Vegas Sands Corp. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit