Las Vegas Sands (LVS) Soars 8.0%: Is Further Upside Left in the Stock?
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Las Vegas Sands (LVS) shares ended the last trading session 8% higher at $48.40. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 14.9% gain over the past four weeks.
Shares of Las Vegas Sands appreciated after a report revealed that the number of high-stakes gamblers in China is on the rise, with many placing increasingly larger bets. The stock also benefited from China's recent announcement of its largest stimulus measures since the pandemic.
This casino operator is expected to post quarterly earnings of $0.55 per share in its upcoming report, which represents no change from the year-ago quarter. Revenues are expected to be $2.79 billion, down 0.2% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Las Vegas Sands, the consensus EPS estimate for the quarter has been revised 0.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on LVS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Las Vegas Sands is part of the Zacks Gaming industry. Century Casinos (CNTY), another stock in the same industry, closed the last trading session 2.5% higher at $2.48. CNTY has returned 2.5% in the past month.
For Century Casinos , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.28. This represents a change of +40.4% from what the company reported a year ago. Century Casinos currently has a Zacks Rank of #5 (Strong Sell).
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Las Vegas Sands Corp. (LVS) : Free Stock Analysis Report
Century Casinos, Inc. (CNTY) : Free Stock Analysis Report