Las Vegas Sands (LVS) Downgraded by Zacks Investment Research to “Hold”
According to Zacks, “Shares of Las Vegas Sands have outperformed the industry so far this year. Increased revenues at casino, rooms and mall drove the company’s top line in first-quarter 2019. It generated solid revenues from Macao operations as well. In the next couple of years, the company is likely to spend $2 billion in Macao. To strengthen the resort portfolio, Las Vegas Sands is focusing on expanding the Four Seasons Tower Suites Macao, St. Regis Tower Suites Macao and the Londoner Macao. Planned investment in new capital projects in Macao and higher revenues from The Parisian Macao are also likely to drive growth. Las Vegas Sands’ consistent focus on a convention-based Integrated Resort business model is an added positive. Nevertheless, high debt and competition are worrisome. Estimates for the current year have witnessed upward revisions in the past 30 days.”
Other equities analysts have also issued reports about the stock. Jefferies Financial Group raised their target price on shares of Las Vegas Sands from $57.00 to $69.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price objective on shares of Las Vegas Sands from $72.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Bank of America reiterated a “neutral” rating and issued a $70.00 price objective (up from $64.00) on shares of Las Vegas Sands in a research report on Wednesday, April 17th. Telsey Advisory Group reiterated a “market perform” rating and issued a $64.00 price objective (up from $58.00) on shares of Las Vegas Sands in a research report on Thursday, April 18th. Finally, Deutsche Bank lifted their price objective on shares of Las Vegas Sands from $60.00 to $69.00 and gave the company a “hold” rating in a research report on Thursday, April 18th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $68.60.
Las Vegas Sands (NYSE:LVS) last announced its earnings results on Wednesday, April 17th. The casino operator reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.48 billion. Las Vegas Sands had a net margin of 11.15% and a return on equity of 34.52%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.04 earnings per share. As a group, research analysts expect that Las Vegas Sands will post 3.35 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Coronation Fund Managers Ltd. purchased a new position in Las Vegas Sands in the 1st quarter valued at about $4,367,000. Skylands Capital LLC lifted its holdings in Las Vegas Sands by 234.1% in the 4th quarter. Skylands Capital LLC now owns 68,500 shares of the casino operator’s stock valued at $3,565,000 after purchasing an additional 48,000 shares in the last quarter. PRW Wealth Management LLC purchased a new position in Las Vegas Sands in the 4th quarter valued at about $99,000. USA Mutuals Advisors Inc. lifted its holdings in Las Vegas Sands by 4.4% in the 4th quarter. USA Mutuals Advisors Inc. now owns 141,000 shares of the casino operator’s stock valued at $7,339,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Greenleaf Trust purchased a new position in Las Vegas Sands in the 4th quarter valued at about $204,000. 36.76% of the stock is owned by institutional investors and hedge funds.
About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and iconic Marina Bay Sands in Singapore.
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