Zacks Investment Research downgraded shares of Las Vegas Sands (NYSE:LVS) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “Although shares of Las Vegas Sands have outperformed the industry over the past year, it has been declining. High debt and competition are primary causes of concern. Estimates for current and next year have been stable over the past 30 days. Moreover fluctuation is Macau gaming revenue have been keeping the company under pressure. However, planned investment in new capital projects in Macao and higher revenues from The Parisian Macao are likely to drive growth. Further, EBITDA margins have been improving consistently due to focus on the mass and non-gaming segments, which carry higher margins. Furthermore, Las Vegas Sands remains focused on a convention-based Integrated Resort business model.”
A number of other research analysts also recently weighed in on LVS. Nomura decreased their price objective on shares of Las Vegas Sands from $70.00 to $60.00 and set a neutral rating for the company in a research report on Thursday, October 25th. Argus decreased their price objective on shares of Las Vegas Sands from $89.00 to $70.00 and set a buy rating for the company in a research report on Friday, October 26th. Citigroup cut their target price on shares of Las Vegas Sands to $63.00 and set a hold rating for the company in a research note on Thursday, October 25th. Bank of America reissued a hold rating and set a $60.00 target price on shares of Las Vegas Sands in a research note on Tuesday, October 16th. Finally, Morgan Stanley set a $68.00 target price on shares of Las Vegas Sands and gave the stock a buy rating in a research note on Thursday, October 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. Las Vegas Sands currently has an average rating of Hold and an average price target of $74.03.
Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, October 24th. The casino operator reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.04). The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.41 billion. Las Vegas Sands had a return on equity of 34.18% and a net margin of 27.71%. Equities research analysts forecast that Las Vegas Sands will post 3.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 27th. Investors of record on Tuesday, December 18th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, December 17th. This represents a $3.00 annualized dividend and a yield of 5.29%. Las Vegas Sands’s dividend payout ratio is presently 98.68%.
A number of hedge funds and other institutional investors have recently made changes to their positions in LVS. Tower Research Capital LLC TRC boosted its holdings in Las Vegas Sands by 195.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,066 shares of the casino operator’s stock valued at $122,000 after purchasing an additional 1,366 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Las Vegas Sands in the 3rd quarter valued at about $126,000. Flagship Harbor Advisors LLC acquired a new position in Las Vegas Sands in the 2nd quarter valued at about $135,000. Legacy Financial Advisors Inc. acquired a new position in Las Vegas Sands in the 3rd quarter valued at about $156,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Las Vegas Sands by 126.6% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,794 shares of the casino operator’s stock valued at $166,000 after purchasing an additional 1,561 shares during the last quarter. 36.99% of the stock is owned by institutional investors.
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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