Las Vegas Sands Corp. (NYSE:LVS)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Thursday, Analyst Ratings.Net reports. They currently have a $67.00 price target on the stock. Zacks‘ target price indicates a potential upside of 5.55% from the company’s current price.
Zacks‘ analyst wrote, “Las Vegas Sands’ second-quarter 2013 adjusted earnings of $0.72 per share beat the Zacks Consensus Estimate of $0.69 as well as the prior-year quarter’s earnings of $0.51 by 4.3% and 41.2%, respectively. Soft top-line performance was offset by strong margins which boosted the bottom line. Although the company’s revenues missed the Zacks Consensus Estimate by 1.5%, it grew 25.6% year over year on the back of solid Macau business. Moreover, the upcoming projects in Cotai Strip are expected to spur growth further. Overall, we remain encouraged by the company’s strong brand portfolio and its ability to navigate through a difficult operating environment. However, we remain concerned about the competitive market in Macao. Though the company’s Las Vegas business is improving lately, we prefer to remain on the sidelines until the situation completely recovers. Apart from this, debt burden remains a headwind. Hence, we remain Neutral on the stock.”
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank raised their price target on shares of Las Vegas Sands Corp. (NYSE:LVS) from $65.00 to $73.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at UBS AG set a $68.00 price target on shares of Las Vegas Sands Corp. (NYSE:LVS) in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Las Vegas Sands Corp. (NYSE:LVS) from $66.00 to $72.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock.
One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.71.
Shares of Las Vegas Sands Corp. (NYSE:LVS) traded down 0.95% on Thursday, hitting $62.88. The stock had a trading volume of 2,770,028 shares. Las Vegas Sands Corp. has a 1-year low of $40.28 and a 1-year high of $63.98. The stock has a 50-day moving average of $57.09 and a 200-day moving average of $55.49. The company has a market cap of $51.811 billion and a P/E ratio of 27.84. Las Vegas Sands Corp. also was the recipient of some unusual options trading activity on Monday. Investors purchased 26,566 call options on the company. This is an increase of 221% compared to the average volume of 8,288 call options.
Las Vegas Sands Corp. (NYSE:LVS) last released its earnings data on Wednesday, July 24th. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.68 by $0.04. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 25.6% on a year-over-year basis. On average, analysts predict that Las Vegas Sands Corp. will post $2.88 earnings per share for the current fiscal year.
In other Las Vegas Sands Corp. news, Director Irwin Siegel sold 6,250 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $56.07, for a total transaction of $350,437.50. Following the transaction, the director now directly owns 15,650 shares of the company’s stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Las Vegas Sands Corp. is a developer of destination properties (NYSE:LVS) that feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities.
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