LVS stock soars to 52-week high, reaching $55.66

Published 12/09/2024, 10:34 PM
LVS
-

Las Vegas Sands (NYSE:LVS) Corp. shares have hit a 52-week high, reaching a price level of $55.66, signaling a strong performance period for the casino and resort company. With a market capitalization of $39.1 billion and impressive gross profit margins of 76.4%, the company has demonstrated robust financial performance. This peak comes amidst a broader recovery in the hospitality and entertainment sectors, as travel and leisure activities continue to rebound. Over the past year, Las Vegas Sands has seen its stock value increase by 18.4%, with an even stronger six-month return of 21%. According to InvestingPro analysis, which rates the company's financial health as "GREAT," the stock appears slightly undervalued based on its Fair Value metrics. The 52-week high represents a significant milestone for the company, marking a period of robust financial health and operational success. InvestingPro subscribers have access to 8 additional key insights about LVS, along with comprehensive Pro Research Reports available for over 1,400 US stocks.

In other recent news, Las Vegas Sands Corp has experienced robust growth in its Macao and Singapore markets, as highlighted in its third quarter 2024 earnings report. The company's Macao total gaming revenue rose 13% year-over-year, with mass gaming revenue up by 14%. CEO Rob Goldstein projected that Macao's gross gaming revenues will surpass $30 billion by 2025. Despite disruptions from renovations, Macao's EBITDA reached $585 million, while Marina Bay Sands posted an EBITDA of $406 million.

Additionally, Mizuho (NYSE:MFG) Securities and Stifel financial firm have updated their outlook on Las Vegas Sands, raising the price target to $57.00 and $64.00 respectively, and maintaining positive ratings. These adjustments follow recent developments, such as the opening of the Londoner Grand Casino (EPA:CASP) and the ongoing $1.75 billion refurbishment at Marina Bay Sands in Singapore, which are expected to enhance the company's prospects.

Las Vegas Sands Corp also announced a repurchase of $450 million in stock and an increase in its annual dividend to $1 per share for 2025. These recent developments highlight the company's strong performance and positive outlook.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.