Casino and resort operator Las Vegas Sands (NYSE:LVS) inched higher in pre-market trading after releasing mixed Q4 results. The company’s revenues soared by 161% year-over-year to $2.92 billion compared to analysts’ estimates of $2.7 billion. The casino giant’s revenue growth was driven by its Macao operations, which saw a year-over-year increase of more than 300% and generated revenues of $1.86 billion.
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Las Vegas Sands swung to a profit in the fourth quarter with earnings of $0.50 per share compared to a loss of $0.22 per share in the same period last year. However, Q4 earnings fell short of consensus estimates of $0.61 per share.
Is LVS Stock a Good Buy?
Analysts remain bullish about LVS stock with a Strong Buy consensus rating based on seven Buys. LVS stock has slid by more than 8% over the past year, and the average LVS price target of $63.43 implies an upside potential of 27.8% at current levels.
