Las Vegas Sands (NYSE:LVS) Downgraded by Zacks Research to “Strong Sell”

Las Vegas Sands (NYSE:LVS) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reduced 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 research report on Thursday. The Goldman Sachs Group lowered their price target on shares of Las Vegas Sands from $63.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday. Wall Street Zen cut shares of Las Vegas Sands from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Weiss Ratings downgraded shares of Las Vegas Sands from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Finally, Bank of America cut 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 report on Monday, July 20th. Eleven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.31.

Las Vegas Sands Stock Performance

NYSE:LVS opened at $46.12 on Thursday. The stock has a 50 day simple moving average of $48.24 and a 200 day simple moving average of $53.22. The stock has a market cap of $30.56 billion, a P/E ratio of 17.95, a PEG ratio of 1.15 and a beta of 0.83. Las Vegas Sands has a 1-year low of $44.21 and a 1-year high of $70.45. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 8.64.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.17). The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 117.08%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. Research analysts anticipate that Las Vegas Sands will post 3.31 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Las Vegas Sands during the fourth quarter worth about $26,000. DV Equities LLC bought a new position in Las Vegas Sands in the 4th quarter valued at about $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in Las Vegas Sands in the 4th quarter valued at about $29,000. Wilmington Savings Fund Society FSB raised its position in shares of Las Vegas Sands by 254.8% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after buying an additional 400 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Las Vegas Sands by 182.4% in the 3rd quarter. IFP Advisors Inc now owns 672 shares of the casino operator’s stock valued at $36,000 after buying an additional 434 shares in the last quarter. Institutional investors own 39.16% of the company’s stock.

Key Stories 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

Las Vegas Sands Company Profile

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.