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Las Vegas Sands Corp. (NYSE: LVS) shares rose sharply on the strength of a third-quarter report that an analyst said "dispelled some extremely negative sentiment."
With its shares down 13 percent in the past few months, Las Vegas Sands moved Wednesday to increase its buyback program and boost its dividend by 30 percent.
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"Yay, dividends!" said Barclay's Felicia R. Hendrix, while maintaining a Neutral rating and $65 price target.
Although "it might be too soon to call a bottom" to the company's shares, Hendrix thinks further downside to its shares could be limited.
Sands' 80-year-old Chief Executive Sheldon G. Adelson told analysts in a Wednesday conference call that the Macau business might revive in the second quarter of 2015.
But Hendrix said Thursday the "the worst" of declines at key operations in Macau should be over by the end of the fourth quarter, while its balance sheet remains strong.
Praveen Choudhary called the fourth quarter "a concern" that will put increased pressure on the company as Macau gamblers stay home in larger numbers.
In the meantime, FBR's Jake Fuller said the buybacks and dividend boost "should help alleviate some concern" about ongoing uncertainty in Macau.
Fuller called third-quarter results "soft, but no surprise," and maintained a Hold rating on Las Vegas Sands.
Las Vegas Sands changed hands recently at $64.01, up 6.1 percent.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.