NEW YORK (TheStreet) -- Shares of Las Vegas Sands Corp. (LVS) are declining 0.89% to $51.08 in Friday's afternoon trading after Barclays lowered its price target to $55 from $59. The firm is maintaining its "overweight" rating.
Analyst Felicia Hendrix said that it is "too early to call a bottom" on the Macau gaming market, due to the ongoing persistent headwinds facing the market.
While many investors are focusing on when recent sharp declines in gross gaming revenues will subside, she said she expects the trend of negative newsflow to continue and weigh on stocks.
By the end of the year, she pointed out that the declines should start to be less steep.
Additionally, she noted the company's strong dividend yield of 5% and commitment to grow dividends by at least 10% annually "is compelling."
About 2.05 million shares of Las Vegas Sands have traded hands as of 1:32 pm, compared to its average trading volume of about 5.34 million shares.
Las Vegas Sands develops, owns, and operates integrated resorts in Asia and the U.S.
TheStreet Ratings team rates LAS VEGAS SANDS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate LAS VEGAS SANDS CORP (LVS) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. We feel its strengths outweigh the fact that the company has had sub par growth in net income."