Las Vegas Sands (NYSE:LVS) Announces Earnings Results, Misses Estimates By $0.10 EPS

Las Vegas Sands (NYSE:LVS – Get Rating) issued its earnings results on Wednesday. The casino operator reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10), RTT News reports. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.18 billion. Las Vegas Sands had a net margin of 46.94% and a negative return on equity of 25.33%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) earnings per share.

Las Vegas Sands Price Performance

LVS stock traded down $0.45 during midday trading on Wednesday, hitting $55.02. The company’s stock had a trading volume of 8,151,599 shares, compared to its average volume of 5,303,104. Las Vegas Sands has a 12 month low of $28.88 and a 12 month high of $55.90. The company has a quick ratio of 1.82, a current ratio of 1.83 and a debt-to-equity ratio of 3.64. The firm has a market capitalization of $42.04 billion, a price-to-earnings ratio of 22.46 and a beta of 1.13. The company has a 50 day moving average of $48.79 and a two-hundred day moving average of $41.74.

Institutional Trading of Las Vegas Sands

Hedge funds have recently modified their holdings of the company. IHT Wealth Management LLC purchased a new stake in Las Vegas Sands during the 3rd quarter valued at $269,000. Industrial Alliance Investment Management Inc. purchased a new stake in Las Vegas Sands during the 3rd quarter valued at $50,000. Baird Financial Group Inc. raised its holdings in Las Vegas Sands by 145.9% during the 3rd quarter. Baird Financial Group Inc. now owns 32,626 shares of the casino operator’s stock valued at $1,223,000 after buying an additional 19,359 shares during the period. Neuberger Berman Group LLC increased its stake in Las Vegas Sands by 626.4% in the third quarter. Neuberger Berman Group LLC now owns 311,861 shares of the casino operator’s stock worth $11,703,000 after purchasing an additional 268,927 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Las Vegas Sands by 15.3% in the third quarter. Alliancebernstein L.P. now owns 499,797 shares of the casino operator’s stock worth $18,752,000 after purchasing an additional 66,379 shares during the period. 39.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Stifel Nicolaus upped their price target on Las Vegas Sands from $50.00 to $55.00 in a report on Wednesday, December 7th. CICC Research assumed coverage on shares of Las Vegas Sands in a research report on Thursday, November 24th. They set an “outperform” rating for the company. JPMorgan Chase & Co. increased their price target on shares of Las Vegas Sands from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, November 28th. StockNews.com began coverage on shares of Las Vegas Sands in a research note on Wednesday, October 12th. They set a “sell” rating on the stock. Finally, Citigroup increased their price target on shares of Las Vegas Sands from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.30.

Las Vegas Sands Company Profile

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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.