Las Vegas Sands (LVS) Stock Falls in After-Hours Trading on Q2 Miss
Bloomberg News
NEW YORK (TheStreet) -- Shares of Las Vegas Sands (LVS) - Get Report are declining 1.72% to $46.98 in after-hours trading Monday after the company reported weaker-than-expected results for the 2016 second quarter.
After today's closing bell, the Las Vegas-based casino and resort company reported adjusted earnings of 52 cents per diluted share, below analysts' estimates of 56 cents per share.
Revenue for the quarter was $2.65 billion, lower than Wall Street's forecasts of $2.76 billion.
Total net revenues for Sands China fell 16.4% to $1.48 billion year-over-year.
"The operating environment in Macao remained challenging during the quarter; but we do see signs of stabilization, particularly in the mass market," CEO Sheldon Adelson said in a statement.
"Our mass gaming revenues in the month of June 2016 increased versus the same month in 2015, the first year-on-year monthly mass gaming growth we have experienced in nearly two years," he added.
The stock moved between gains and losses in after-hours trading.
About 5.32 million of the company's shares changed hands today vs. its average volume of 3.81 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins and largely solid financial position with reasonable debt levels by most measures.
But the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: LVS