Zacks Research Upgrades Las Vegas Sands (NYSE:LVS) to "Hold"

Key Points

• Zacks Research upgraded Las Vegas Sands to “Hold” from “Strong Sell,” while the broader analyst consensus remains “Moderate Buy,” with 10 Buy and 10 Hold ratings and an average price target of $59.84.
• Las Vegas Sands opened at $36.37, near its 52-week low of $36.08 and well below its 52-week high of $70.45, reflecting significant recent share-price weakness.
• The company’s latest quarterly results missed expectations: EPS was $0.59 versus $0.76 expected, while revenue reached $3.15 billion versus the $3.31 billion consensus estimate.

Las Vegas Sands (NYSE:LVS - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday, Zacks reports.

A number of other brokerages have also recently commented on LVS. Citigroup cut their price target on shares of Las Vegas Sands from $73.00 to $71.50 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Wells Fargo & Company lowered their price objective on Las Vegas Sands from $53.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, July 27th. Seaport Research Partners dropped their price objective on Las Vegas Sands from $69.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Wolfe Research began coverage on Las Vegas Sands in a research note on Wednesday, September 2nd. They issued a "peer perform" rating on the stock. Finally, The Goldman Sachs Group cut their target price on Las Vegas Sands from $63.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.84.

Las Vegas Sands Price Performance

Las Vegas Sands stock opened at $36.37 on Monday. The company has a debt-to-equity ratio of 15.27, a quick ratio of 0.99 and a current ratio of 1.00. Las Vegas Sands has a 52 week low of $36.08 and a 52 week high of $70.45. The stock has a market capitalization of $23.55 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.90 and a beta of 0.78. The stock has a fifty day moving average of $43.38 and a 200-day moving average of $48.13.

Las Vegas Sands (NYSE:LVS - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The casino operator reported $0.59 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.17). The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.31 billion. Las Vegas Sands had a net margin of 12.59% and a return on equity of 133.90%. Las Vegas Sands's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. On average, sell-side analysts expect that Las Vegas Sands will post 3.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Las Vegas Sands

Hedge funds have recently made changes to their positions in the business. State Street Corp lifted its holdings in Las Vegas Sands by 6.5% during the second quarter. State Street Corp now owns 15,159,570 shares of the casino operator's stock valued at $700,221,000 after purchasing an additional 919,452 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Las Vegas Sands by 58.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,186,257 shares of the casino operator's stock worth $532,843,000 after purchasing an additional 3,018,704 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Las Vegas Sands by 36.9% in the second quarter. Allianz Asset Management GmbH now owns 4,617,148 shares of the casino operator's stock valued at $213,266,000 after purchasing an additional 1,244,943 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Las Vegas Sands by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,780,266 shares of the casino operator's stock valued at $203,616,000 after purchasing an additional 90,690 shares during the period. Finally, ARGA Investment Management LP lifted its stake in shares of Las Vegas Sands by 10.1% during the 1st quarter. ARGA Investment Management LP now owns 3,748,681 shares of the casino operator's stock valued at $201,979,000 after buying an additional 343,203 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

About Las Vegas Sands

Las Vegas Sands Corp. NYSE: LVS is a global developer and operator of integrated resorts that combine casino gaming with hotels, convention and exhibition facilities, retail, dining and entertainment venues. The company's properties are designed to serve leisure travelers, business visitors and convention groups.

Las Vegas Sands operates major integrated resorts in Macau, including The Venetian Macao, The Parisian Macao, The Londoner Macao and Four Seasons Hotel Macao. In Singapore, it operates Marina Bay Sands, a large resort featuring hotel accommodations, gaming, shopping, dining, entertainment and convention facilities.

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