Las Vegas Sands: Only Up From Here
(TheStreet) -- Las Vegas Sands' (NYSE: LVS) third-quarter results could be just the catalyst needed to drive the stock higher.
The casino giant saw its third-quarter profit double to $353.6 million, or 44 cents a share, on revenue of $2.41 billion. On an adjusted basis, Sands earned 55 cents a share. This was better than Wall Street's estimates of 52 cents a share on revenue of $2.34 billion.
"We believe third-quarter results will begin a new upward run for shares and is a catalyst for Las Vegas Sands' stock multiple to solidly surpass peers, something well overdue, in our view," Sterne Agee analyst David Bain wrote in a note.
Originally posted here.
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