Zacks reissued their neutral rating on shares of Las Vegas Sands Corp. (NYSE:LVS) in a research note released on Monday morning, American Banking & Market News reports. They currently have a $76.00 target price on the stock.
Zacks’ analyst wrote, “Las Vegas Sands’ third-quarter 2013 adjusted earnings of $0.82 per share beat the Zacks Consensus Estimate as well as the prior-year levels by 9.3% and 78.3%, respectively. The company’s higher top line and margin expansion helped the earnings growth during the quarter. Net revenue increased 31.7% year over year to $3.57 billion and also surpassed the Zacks Consensus Estimate by 3.2%. Impressive performance in the company’s Macau as well as Singapore businesses led to such double-digit top-line growth. Overall, we remain encouraged by the company’s strong brand portfolio and its ability to navigate through a difficult operating environment. Moreover, the company’s upcoming projects in Cotai Strip are expected to spur growth further. However, we remain concerned about the competitive market in Macao. Apart from this, debt burden remains a headwind. Hence, we remain Neutral on the stock.”
Zacks has also modified their ratings on a number of other consumer discretionary stocks in the few days. The firm downgraded shares of Chuy’s Holdings Inc from a neutral rating to an underperform rating. Their analysts now have a $36.40 price target on that stock. Also, Zacks upgraded shares of Churchill Downs Inc. from a neutral rating to an outperform rating. Zacks now has a $89.60 price target on that stock.
Las Vegas Sands Corp. (NYSE:LVS) traded down 2.05% during mid-day trading on Monday, hitting $71.355. 3,052,283 shares of the company’s stock traded hands. Las Vegas Sands Corp. has a 52-week low of $40.28 and a 52-week high of $63.98. The stock has a 50-day moving average of $57.58 and a 200-day moving average of $55.64. The company has a market cap of $58.739 billion and a price-to-earnings ratio of 27.81.
Las Vegas Sands Corp. (NYSE:LVS) last issued its earnings results on Thursday, October 17th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. Analysts expect that Las Vegas Sands Corp. will post $2.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 31st. Investors of record on Friday, December 20th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, December 18th.
A number of other analysts have also recently weighed in on LVS. Analysts at Sterne Agee raised their price target on shares of Las Vegas Sands Corp. from $73.00 to $81.00 in a research note to investors on Monday. They now have a buy rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Las Vegas Sands Corp. from $57.00 to $65.00 in a research note to investors on Friday, October 18th. They now have a hold rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Las Vegas Sands Corp. from $73.00 to $80.00 in a research note to investors on Friday, October 18th. They now have a buy rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $73.46.
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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