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Nevada-based Las Vegas Sands Corp. (LVS) develops, owns, and operates numerous integrated resorts in Macao and Singapore. Commanding a market cap of $31.4 billion, its integrated resorts feature luxurious accommodations, casinos, entertainment, malls, celebrity chef restaurants, and other amenities. Las Vegas Sands is expected to announce its fiscal Q2 earnings on Wednesday, July 17.
Ahead of the event, analysts expect Las Vegas Sands to report a profit of $0.60 per share, up 30.4% from $0.46 per share reported in the year-ago quarter. The company has surpassed Wall Street’s EPS projections in three of the past four quarters while missing on one other occasion.
Its adjusted EPS for the last reported quarter increased by 167.9% year over year to $0.75, beating the consensus estimate by 21%. Additionally, the company reported a double-digit revenue surge last quarter.
Looking ahead to fiscal 2024, analysts expect Las Vegas Sands to report an EPS of $2.69, up 42.3% from $1.89 in fiscal 2023. Its fiscal 2025 EPS is projected to grow 13% annually to $3.04.
LVS stock has dipped 23.9% over the past 52 weeks, substantially underperforming the S&P 500 Index’s ($SPX) 25.2% gains and S&P 500 Cons Disc Sector SPDR’s (XLY) 10.1% returns over the same time frame.
Las Vegas Sands has been mired in a long-term bearish trend. The COVID-19 pandemic hit the company hard, with revenues still lagging behind 2019 levels and an irregular dividend payout. Despite reporting a 39.6% year-over-year jump in revenue to $3 billion in fiscal Q1, LVS stock fell for three consecutive trading sessions following its Q1 earnings release on April 17.
The consensus opinion on Las Vegas Sands stock is bullish, with a “Strong Buy” rating overall. Out of the 14 analysts covering the stock, 11 recommend a “Strong Buy,” one suggests a “Moderate Buy” rating, and two advise a “Hold.” Over the past three months, one new “Strong Buy” recommendation has been added to the consensus.
The average target price for Las Vegas Sands is $61.67, indicating a potential upside of 46.5% from the current price levels.
On the date of publication, Sristi Jayaswal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
