KeyBanc Adjusting Numbers on Las Vegas Sands (LVS); Slower-Than-Expected Macau Revenue Growth
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Price: $57.55 -0.43%
Rating Summary:
18 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
18 Buy, 7 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade LVS Now!
KeyBanc maintains a 'Buy' on Las Vegas Sands (NYSE: LVS) price target of $60.00 (from $65.00).
Analyst, Dennis I. Forst, said, "We are lowering our EPS estimates and price target for Las Vegas Sands to account for slower than expected Macau revenue growth and a slower ramp at its new Sand Cotai Central (SCC) property. We expect the Macau gaming market to grow 10-13% in 2H12, after a 21% increase in 1H12. In LVS's case, this growth moderation will be offset by market share gains from the
April opening and expansion of SCC. We believe that LVS's market share will approach 19.5% in the second half of 2012 vs. 17.5% in the first half of 2012."
Q2 EPS estimate lowered from $0.67 to $0.61. FY13 maintained at $3.30.
For an analyst ratings summary and ratings history on Las Vegas Sands click here. For more ratings news on Las Vegas Sands click here.
Shares of Las Vegas Sands closed at $42.39 yesterday, with a 52 week range of $36.08-$62.09.
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Analyst, Dennis I. Forst, said, "We are lowering our EPS estimates and price target for Las Vegas Sands to account for slower than expected Macau revenue growth and a slower ramp at its new Sand Cotai Central (SCC) property. We expect the Macau gaming market to grow 10-13% in 2H12, after a 21% increase in 1H12. In LVS's case, this growth moderation will be offset by market share gains from the
April opening and expansion of SCC. We believe that LVS's market share will approach 19.5% in the second half of 2012 vs. 17.5% in the first half of 2012."
Q2 EPS estimate lowered from $0.67 to $0.61. FY13 maintained at $3.30.
For an analyst ratings summary and ratings history on Las Vegas Sands click here. For more ratings news on Las Vegas Sands click here.
Shares of Las Vegas Sands closed at $42.39 yesterday, with a 52 week range of $36.08-$62.09.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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