Las Vegas Sands (NYSE:LVS – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.
Other research analysts have also recently issued research reports about the company. Morgan Stanley set a $68.00 target price on Las Vegas Sands in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on shares of Las Vegas Sands from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday. Jefferies Financial Group raised their price target on shares of Las Vegas Sands from $61.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $62.00 price target (down from $73.00) on shares of Las Vegas Sands in a report on Thursday. Finally, Seaport Research Partners lowered their price objective on shares of Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Eleven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Las Vegas Sands has a consensus rating of “Moderate Buy” and an average price target of $62.31.
Check Out Our Latest Report on Las Vegas Sands
Las Vegas Sands Trading Up 0.2%
Las Vegas Sands (NYSE:LVS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). Las Vegas Sands had a return on equity of 117.08% and a net margin of 12.59%.The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the firm posted $0.66 EPS. Las Vegas Sands’s quarterly revenue was down .7% on a year-over-year basis. Equities analysts anticipate that Las Vegas Sands will post 3.31 EPS for the current fiscal year.
Institutional Trading of Las Vegas Sands
Several hedge funds and other institutional investors have recently made changes to their positions in LVS. AQR Capital Management LLC increased its stake in shares of Las Vegas Sands by 222.7% in the fourth quarter. AQR Capital Management LLC now owns 9,098,518 shares of the casino operator’s stock valued at $592,223,000 after buying an additional 6,279,390 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Las Vegas Sands by 4.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 8,582,962 shares of the casino operator’s stock valued at $462,450,000 after buying an additional 396,705 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Las Vegas Sands by 18.7% during the 4th quarter. Bank of New York Mellon Corp now owns 7,893,031 shares of the casino operator’s stock worth $513,757,000 after buying an additional 1,246,206 shares during the period. Norges Bank acquired a new stake in Las Vegas Sands during the 4th quarter worth approximately $364,892,000. Finally, Dimensional Fund Advisors LP grew its holdings in Las Vegas Sands by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,780,266 shares of the casino operator’s stock worth $203,616,000 after acquiring an additional 90,690 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors.
Key Headlines Impacting Las Vegas Sands
Here are the key news stories impacting Las Vegas Sands this week:
- Positive Sentiment: Investors are still looking beyond near-term weakness because Las Vegas Sands is investing heavily in premium travel demand, including Macau property upgrades and an $8 billion Singapore expansion that could support future growth. Article Title
- Positive Sentiment: Despite the selloff after earnings, some market coverage says LVS is gaining as investors focus on the company’s long-term assets and ignore temporary headwinds. Article Title
About Las Vegas Sands
Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.
The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.
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