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LVS·Las Vegas Sands Corp.

$41.27
-1.13 (-2.67%)
After Hours
High
$42.68
Open
$42.22
Market Cap
27.62B
52W High
$70.46
Low
$41.26
P. Close
$41.27
P/E
15.99
52W Low
$40.56
Fwd P/E
12.08
DailyIQ Est.
$61.07
Inst. Ownership
22.1%
Short Interest
2.65%
Days to Cover
3.7
Technical Score (1D)
0
SELL
News Sentiment
43
BEARISH
The 10‑year anniversary of Parisian Macao, celebrated 24 hours ago, signals a renewed push by Las Vegas Sands to deepen its non‑gaming portfolio in Macau, a move that could cushion the company against future volatility in casino demand. This milestone underscores Sands China’s confidence that hotels, retail, entertainment, MICE, and cultural tourism will drive long‑term revenue growth, a narrative that may help justify a higher valuation for the group’s Asian operations. The anniversary also highlights the property’s role as a flagship leisure hub, suggesting that the company will continue to invest in similar experiences across its portfolio, potentially raising capital‑expenditure expectations for the next few quarters. Wolfe Research’s initiation of coverage at a peer‑perform level, announced 8 days ago, adds a new analyst voice that could influence market perception, especially if the firm follows up with a target price or earnings guidance. The lack of a recommendation so far leaves uncertainty, but the mere fact that a respected research house has entered the conversation may prompt a reassessment of LVS’s fundamentals by other analysts. Traders should watch for Wolfe’s next report, which could clarify whether the company’s recent earnings miss and Macao hold‑down are seen as temporary or structural. The Q2 2026 earnings release, 21 days ago, showed an adjusted EPS of $0.59 versus the $0.77 consensus, driven largely by lower rolling‑play volumes in Macao, though overall gaming volumes rose and Marina Bay Sands’ mass‑gaming revenue increased 5 %. This earnings shortfall may weigh on sentiment for the next 1–10 trading days, but the resilience in Singapore suggests that the company’s core operations remain robust. The key watch item is how management will address the Macao volatility—whether through cost‑control, marketing, or capital allocation—to prevent a repeat of the earnings miss. Analysts have recently lowered LVS’s price target by 14.5 % to $60.35, reflecting heightened concerns over market conditions and competitive pressures that could dampen revenue growth. This downgrade signals a more cautious outlook that could influence short‑term trading, especially if the company fails to deliver a clear turnaround plan. Investors should monitor upcoming earnings guidance and any regulatory developments that could affect the U.S. casino sector, which remains a source of uncertainty for the company’s diversification strategy.
Earnings Summary
Las Vegas Sands Corp. is a global integrated resort operator focused on high‑growth markets in Macao and Singapore, delivering gaming, luxury accommodations, entertainment and retail within large‑scale properties such as The Venetian Macao and Marina Bay Sands. The company’s business model relies on scale and premium customer experience to capture market share in key Asian destinations. In the most recent quarters, Q4 2024 and Q1 2025 EPS fell short of estimates (0.54 vs 0.576 and 0.59 vs 0.569) while revenue remained strong, with Q4 revenue of $2.896 billion and Q1 of $2.862 billion. However, Q2 2025 and Q3 2025 reversed the trend, with EPS of $0.79 and $0.78 beating estimates of $0.531 and $0.622, and revenue rising to $3.175 billion and $3.331 billion respectively. The company has consistently outperformed on revenue in the last four quarters, but EPS has been mixed, with a miss in Q4 2024, a beat in Q1 2025, a strong beat in Q2 2025, and a moderate beat in Q3 2025. Historically, LVS has shown a steady YoY revenue growth trajectory, with a 9.5% increase in Q4 2025 versus Q4 2024, while EPS growth has been volatile, reflecting sensitivity to Macao gaming volumes. Recent news highlights the 10‑year anniversary of Parisian Macao, signaling a push into non‑gaming segments to cushion against casino demand volatility, and a Q2 2026 earnings miss driven by lower Macao rolling‑play volumes, which may influence investor sentiment. Investors should watch the next earnings cycle for how management addresses Macao volatility, cost‑control measures, and capital allocation plans, as these factors will be key to sustaining revenue momentum and improving EPS consistency.

EPS

EstBeatMiss
$0.47$0.60$0.72$0.84$0.97Q2'25Q3'25Q4'25Q1'26Q2'26Q3'26
QtrEstActual+/−
Q3'26$0.75 - -
Q2'26$0.76$0.59-22.0%
Q1'26$0.76$0.91+20.1%
Q4'25$0.77$0.85+10.9%
Q3'25$0.62$0.78+25.4%
Q2'25$0.53$0.79+48.9%

Revenue

EstBeatMiss
$3.1B$3.2B$3.4B$3.6B$3.7BQ2'25Q3'25Q4'25Q1'26Q2'26Q3'26
QtrEstActual+/−
Q3'26$3.4B - -
Q2'26$3.4B$3.2B-6.9%
Q1'26$3.3B$3.6B+7.3%
Q4'25$3.4B$3.6B+8.2%
Q3'25 - $3.3B -
Q2'25 - $3.2B -

Market Data

LVS Stock Snapshot

SELL0/100
$41.50+$0.23 (0.6%)
Market cap
27.62B
P/E ratio
16.0
Day range
$41.26 – $42.68
News sentiment
43/100 · Neutral
Analyst target
$59.07 (+42.3%)
Consensus
Buy · 27 analysts
52-week range+2.3% off low · -41.1% from high
$40.56$70.46
Price $41.50 DailyIQ Est. $61.07

LVS is on the weaker side of its setup, with little confirmation for a reversal yet. The stock is liquid enough that positioning changes get absorbed without distorting the trend.

Reverse DCF

What growth is priced into LVS?

RICH

At today's price, Las Vegas Sands Corp. needs to grow free cash flow about 4.4% a year for the next 10 years to justify its valuation at a 7.73% cost of capital. Over its actual history it has compounded free cash flow at -0.5% a year, so the market is asking for 4.9 percentage points above its own delivered rate. On that basis LVS looks priced above what its own growth record supports.

Implied FCF growth
4.4%
Historical FCF CAGR
-0.5%
Growth gap
+4.9 pts
Verdict
RICH
Discount rate (WACC)
7.73%
Beta
0.92

Behaviour On Record

What LVS's own history says about today's numbers

Realized volatility (21d)
26.7% 34th pct
Below its peak
-51.7%
vs 200-day average
-21.0%
Up days (1y)
47%

Las Vegas Sands Corp. is currently running 26.7% annualised volatility over the last 21 sessions. Measured against LVS's own 13 years of daily returns rather than a market-wide average, that is the 34th percentile on the quiet side for this stock, against a typical reading of 30.6%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.

LVS is trading -51.7% below its running peak. Across 12 full years on file, its median worst-drawdown-in-a-year was -37.3%, and the deepest was -49.1% in 2020. The current drawdown is already deeper than this stock's typical annual low point, which puts it in the part of its range where past recoveries began — and where past declines also continued.

Price sits -21.0% from its 200-day moving average. Against every other day in its history, that gap ranks at the 7th percentile a narrower gap than it typically runs. Over the past year LVS closed higher on 47% of sessions, and it is currently 2 sessions into a falling streak.

On September specifically: over 14 years of records, LVS finished the month higher 6 of 14 times, with a median return of -3.0% and an average of -1.5%. Its strongest month historically has been October at +3.5% on average, its weakest March at -4.7%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.

Overnight risk is measurable too: LVS has opened more than 2% away from the prior close in 170 of 3,268 sessions (5.2% of the time), with the largest gaps running +11.1% and -9.8%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.

Across the last 3 dated reports on file, LVS moved an average of 6.9% in the session after earnings, closing higher 1 of those 3 times, with a median move of -4.9% and a largest of -8.4%.

All figures computed from 3,269 daily closes between 2013-09-16 and 2026-09-15, split-adjusted, recomputed daily. Percentiles are against LVS's own 13-year history, not a peer group or index.

Sector Rotation

Is money rotating into or out of LVS's sector?

Las Vegas Sands Corp. sits in the Consumer Discretionary sector, currently ranked 9th of 11 GICS sectors by relative-strength rotation score (lagging).

Sector rank
#9 of 11
Sector state
Lagging
Sector rotation score
20

Options Market

What is the options market pricing for LVS?

CallsPuts

For Las Vegas Sands Corp.'s nearest expiry (2026-09-18, 3 days out), open interest is put-heavy, a defensive/bearish tilt (put/call ratio of 1.41), with at-the-money implied volatility around 52.5%. The options market is pricing roughly a ±5.8% move by that expiry — a range of about $42.86–$48.14.

Put/call ratio (2026-09-18)
1.41
ATM implied volatility
52.5%
Total open interest
22,970
Expected move by 2026-09-18
±5.8% ($42.86–$48.14)

Analyst Rating Changes

Are analysts turning bullish or bearish on LVS?

Wolfe Research most recently initiated coverage on Las Vegas Sands Corp. to Peer Perform on Sep 2, 2026. Over the last 90 days, coverage has run 0 upgrades against 1 downgrade, a net bearish lean.

Latest action
Wolfe ResearchPeer Perform
90-day upgrades
0
90-day downgrades
1
Net rating momentum
-1
DateFirmActionRatingPrice target
Sep 2, 2026Wolfe ResearchInitiatedPeer Perform-
Jul 30, 2026Argus ResearchDowngradeBuy → Hold-
Jul 27, 2026Morgan StanleyMaintainedEqual-Weight$68 → $61
Jul 23, 2026MacquarieMaintainedOutperform$66 → $62
Jul 23, 2026JP MorganMaintainedOverweight$64 → $60
Jul 23, 2026MizuhoMaintainedOutperform$67 → $61
Jul 23, 2026Goldman SachsMaintainedBuy$63 → $55
Jul 23, 2026BarclaysMaintainedOverweight$63 → $59
Jul 23, 2026StifelMaintainedBuy$74 → $60
Jul 23, 2026SusquehannaMaintainedPositive$64 → $63
Jul 22, 2026SusquehannaMaintainedPositive$72 → $64
Jul 20, 2026B of A SecuritiesMaintainedNeutral$70 → $60

LVS Competitive Positioning

Las Vegas Sands Corp. (LVS) is tracked alongside these names in Resorts & Casinos on DailyIQ — ranked by market cap, with today's move alongside.