Las Vegas Sands (NYSE:LVS) Shares Gap Down Following Analyst Downgrade

Las Vegas Sands Corp. (NYSE:LVS) gapped down before the market opened on Thursday after Morgan Stanley lowered their price target on the stock from $58.00 to $53.00. The stock had previously closed at $49.42, but opened at $48.33. Morgan Stanley currently has an equal weight rating on the stock. Las Vegas Sands shares last traded at $47.87, with a volume of 179,070 shares trading hands.

Several other analysts have also recently issued reports on the company. Jefferies Financial Group upped their price objective on Las Vegas Sands from $66.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, April 19th. Credit Suisse Group increased their price target on Las Vegas Sands from $58.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, April 22nd. Finally, Zacks Investment Research upgraded Las Vegas Sands from a “sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research report on Tuesday, March 30th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Las Vegas Sands currently has an average rating of “Buy” and an average target price of $61.32.

A number of institutional investors and hedge funds have recently bought and sold shares of LVS. Ameritas Investment Company LLC bought a new position in Las Vegas Sands during the 1st quarter valued at $27,000. Abundance Wealth Counselors bought a new position in Las Vegas Sands during the 1st quarter valued at $30,000. Sugarloaf Wealth Management LLC boosted its stake in Las Vegas Sands by 52.6% during the 1st quarter. Sugarloaf Wealth Management LLC now owns 580 shares of the casino operator’s stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in Las Vegas Sands during the 1st quarter valued at $35,000. Finally, RMR Wealth Builders bought a new position in Las Vegas Sands during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 38.15% of the company’s stock.

The business’s 50 day simple moving average is $54.10. The company has a quick ratio of 2.27, a current ratio of 2.28 and a debt-to-equity ratio of 4.52. The stock has a market capitalization of $36.15 billion, a PE ratio of -19.30 and a beta of 1.42.

Las Vegas Sands (NYSE:LVS) last issued its quarterly earnings results on Tuesday, July 20th. The casino operator reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.39 billion. Las Vegas Sands had a negative net margin of 64.84% and a negative return on equity of 47.40%. The business’s revenue for the quarter was up 1096.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.05) earnings per share. As a group, equities analysts forecast that Las Vegas Sands Corp. will post -0.12 earnings per share for the current fiscal year.

Las Vegas Sands Company Profile (NYSE:LVS)

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 Londoner Macao, 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 Marina Bay Sands in Singapore.

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