Las Vegas Sands Corp. (NYSE:LVS) reported better-than-expected results for the first quarter on Wednesday.
The company posted quarterly earnings of 91 cents per share which beat the analyst consensus estimate of 78 cents per share. The company reported quarterly sales of $3.585 billion which beat the analyst consensus estimate of $3.343 billion.
“We continued to execute our strategic objectives during the quarter as we delivered growth in both Singapore and Macao while continuing to increase the return of capital to shareholders,” said Patrick Dumont, chairman and chief executive officer. “Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead.”
Las Vegas Sands shares dipped 7.8% to trade at $52.39 on Thursday.
These analysts made changes to their price targets on Las Vegas Sands following earnings announcement.
- Morgan Stanley analyst Stephen Grambling maintained the stock with an Equal-Weight rating and raised the price target from $67 to $69.
- Mizuho analyst Ben Chaiken maintained Las Vegas Sands with an Outperform rating and raised the price target from $65 to $67.
Considering buying LVS stock? Here’s what analysts think:
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