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Bull of the Day

Las Vegas Sands Corp.'s (LVS) first-quarter results were robust with an industry-wide record of $1 billion EBITDA and adjusted earnings up 89.2% year over year. The first-quarter earnings also surpassed the Zacks Consensus Estimate by $0.10.

The company enjoys a revenue compound annual growth rate of over 20%. With the gradual recovery in global economy, the company is experiencing an increase in demand. Macao and Singapore operations continue to witness strong momentum. The business at Las Vegas, which was worst hit due to the economic slowdown, is also steadily improving.

Moreover, we view the company's Sand Cotai Central project as a long-term catalyst. Additionally, the company remains focused on enhancing shareholder value. Thus, we expect the company's earnings to increase going forward. Hence, we upgrade the stock from Neutral to Outperform.

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