Las Vegas Sands (LVS) Shares Drop on Revenue Miss; Analysts Weigh In
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Price: $47.03 +2.31%
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Las Vegas Sands Corp. (NYSE: LVS) are down 6.74 percent to $46.89 in midday market movement on Friday, after the company reported mixed fourth-quarter results on Thursday.
The resort style casino operator reported fourth-quarter earnings of 42 cents per share, 3 cents better than the analyst estimate of 39 cents per share. The company earned 3 cents per share in the same quarter last year.
Revenue for the company rose 57 percent to $2.02 billion in the period, missing the market consensus of $2.09 billion.
The company said that Macau was a key to turning a profit in the fourth quarter, bu the revenue miss forced shares down.
Analyst Comments:
Deutsche Bank analysts maintained Buy on Las Vegas Sands with a price target of $54 on the stock. The firm said "We are buyers of the stock on any weakness; Golden Week data points likely to be near-tern catalyst; secular growth story intact."
Goldman Sachs maintains a Neutral rating on Las Vegas Sands, as the analysts say, "Results were solid and exceeded our forecasts but investor sentiment, in particular for Singapore results, was high. That may cause a short term dislocation in the share price. No change to our estimates or price target."
Hudson Securities maintain a Buy rating on Las Vegas Sands while raising its price target on the stock from $56 to $57.
Hudson analyst says, "We think expectations had built for an even bigger quarter than the one LVS put up. VIP drop in Singapore was also down sequentially, which may have spooked investors. Given the newness of the Singapore market, revenue seasonality trends aren’t fully understood yet. While VIP dropped sequentially, we did see a big bump in higher margin mass play. We think any sell-off related to 4Q numbers represents a buying opportunity for what we think is the best global growth story in gaming."
The resort style casino operator reported fourth-quarter earnings of 42 cents per share, 3 cents better than the analyst estimate of 39 cents per share. The company earned 3 cents per share in the same quarter last year.
Revenue for the company rose 57 percent to $2.02 billion in the period, missing the market consensus of $2.09 billion.
The company said that Macau was a key to turning a profit in the fourth quarter, bu the revenue miss forced shares down.
Analyst Comments:
Deutsche Bank analysts maintained Buy on Las Vegas Sands with a price target of $54 on the stock. The firm said "We are buyers of the stock on any weakness; Golden Week data points likely to be near-tern catalyst; secular growth story intact."
Goldman Sachs maintains a Neutral rating on Las Vegas Sands, as the analysts say, "Results were solid and exceeded our forecasts but investor sentiment, in particular for Singapore results, was high. That may cause a short term dislocation in the share price. No change to our estimates or price target."
Hudson Securities maintain a Buy rating on Las Vegas Sands while raising its price target on the stock from $56 to $57.
Hudson analyst says, "We think expectations had built for an even bigger quarter than the one LVS put up. VIP drop in Singapore was also down sequentially, which may have spooked investors. Given the newness of the Singapore market, revenue seasonality trends aren’t fully understood yet. While VIP dropped sequentially, we did see a big bump in higher margin mass play. We think any sell-off related to 4Q numbers represents a buying opportunity for what we think is the best global growth story in gaming."
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