Why Las Vegas Sands Stock Is Trading Higher Today

Las Vegas Sands Corp LVS shares are trading higher Thursday following better-than-expected financial results. 

• Q3 Revenue: $2.79 billion beat estimates of $2.69 billion
• Q3 EPS: 55 cents beat estimates of 53 cents

"We were pleased to see the recovery in travel and tourism spending in both Macao and Singapore progress during the quarter. We remain deeply enthusiastic about our opportunities for growth in both markets in the years ahead," said Robert Goldstein, chairman and CEO of Las Vegas Sands.

Macao adjusted property EBITDA came in at $631 million, while Marina Bay Sands adjusted property EBITDA totaled $491 million.

The company's board also authorized $2 billion in stock repurchases through 2025. 

"Our financial strength supports our ongoing investment and capital expenditure programs in both Macao and Singapore, our pursuit of growth opportunities in new markets, and the return of capital to stockholders," Goldstein added.

Following the print, Stifel analyst Steven Wieczynski maintained Las Vegas Sands with a Buy rating and raised the price target from $69 to $70.

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LVS Price Action: Las Vegas Sands shares were up 1.61% at $45.34 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Las Vegas Sands.