In a note released Thursday morning, Morgan Stanley analyst Thomas Allen provided some insight into the firms view on Las Vegas Sands LVS following a miss in its second quarter 2014 earnings results.
Shares of Las Vegas Sands are down 2.5 percent in Thursday's pre-market as the Street begins to digest the company's second quarter earnings results.
Allen noted that the EBITDA miss was due to a "soft" top-line and higher operating expenditures. This, along with lower-than-expected share buybacks and cyclical challenges, have caused Allen to take a cautious standpoint for the near-term. However, he said there is no change to the structural growth story.
Looking forward Allen noted that the company still has ~$300 million remaining for its authorized share repurchases, which management said should be enough to get through the third quarter.
Allen currently rates Las Vegas Sands at Overweight and said the industry view is Attractive.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
