Bank of America, Macquarie & Deutsche Bank Comment On Las Vegas Sands Following Q2 Earnings
A number of analysts have issued notes following the second quarter earnings miss reported by Las Vegas Sands (NYSE: LVS) at the market close on Wednesday.
The common sentiment among the analysts appears to be that near-term concerns in Macau have not affected the longer-term prospects for the company.
Bank of America:
Buy, $95 price objective. The analysts at Bank of America noted that margins in Macau came in at 34 percent, which was below their estimates of 35.7 percent. Although the team believes some of the drivers behind the lower-than-expected margins are non-recurring, they say that there is likely to be continued pressure on Macao margins.
Bank of America has lowered its 2014-15 EPS estimates from $3.80 and $4.41 ro $3.63 and $4.27, respectively.
Outperform, $85 price target. Despite weakness in Macao during the second quarter, the Macquarie analysts believe Las Vegas Sands will continue to be Macao's industry leader in EBITDA in terms of market share, margin, and growth.
The team has revised its 2014-2016 EPS estimates from $3.91, $4.33, and $4.84 to $3.86, $4.35, and $4.85, respectively.
Buy, $84 price target. The team at Deutsche Bank is looking for consensus estimates to come down reflecting reductions to its estimates. However, like the other firms, Deutsche Bank is optimistic on the long-term prospects for Las Vegas Sands.
The team has lowered its 2014 and 2015 EPS estimates from $3.75 and $4.28 to $3.70 and $4.18, respectively.
Latest Ratings for LVS
|Sep 2014||JP Morgan||Maintains||Overweight|
|Sep 2014||Argus Research||Downgrades||Buy||Hold|
|Sep 2014||Deutsche Bank||Maintains||Buy|
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