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With a market cap of $31.6 billion, Las Vegas Sands Corp. (LVS) is a leading global developer and operator of integrated resorts specializing in luxury accommodations, gaming, and entertainment. The company operates premier properties in Macao and Singapore, including The Venetian Macao, The Parisian Macao, The Londoner Macao, and Marina Bay Sands.
Shares of the casino operator have underperformed the broader market over the past 52 weeks. LVS has decreased 14.8% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 22.6%. Moreover, shares of LVS are down 15.3% on a YTD basis, compared to SPX’s 3.1% gain.
Focusing more closely, the Las Vegas, Nevada-based company has lagged behind the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 31.1% return over the past 52 weeks and a 2.2% YTD gain.
Despite reporting lower-than-expected Q4 2024 adjusted EPS of $0.54 on Jan. 29, Las Vegas Sands' stock jumped 11.1% the following day due to strong revenue performance and positive sentiment in its Macao operations. The company’s Q4 revenue of $2.9 billion beat estimates, with Macao operations contributing $7.1 billion to its total $11.3 billion revenue in 2024. Executives projected Macao's gross gaming revenue to exceed $30 billion in 2025, reinforcing optimism despite China’s economic slowdown. Additionally, Marina Bay Sands in Singapore reported strong Q4 revenue of $1.1 billion, and LVS' $547 million in capital expenditures, including $345 million in Macao, reassured investors of continued expansion.
For the current fiscal year, ending in December 2025, analysts expect LVS’ EPS to grow 15.9% year-over-year to $2.63. The company's earnings surprise history is mixed. It beat the consensus estimates in one of the last four quarters while missing on three other occasions.
Among the 15 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 11 “Strong Buy” ratings and four “Holds.”
This configuration is slightly more bullish than three months ago, with 10 “Strong Buy” ratings on the stock.
On Jan. 30, Stifel analysts lowered its price target for Las Vegas Sands to $64 but maintained a “Buy" rating, citing confidence in the company’s Macau-focused investments despite the sector’s recent struggles.
As of writing, LVS is trading below the mean price target of $58.91. The Street-high price target of $67 implies a potential upside of 53.9% from the current price levels.
