LVS

Las Vegas Sands Corp

Consumer, TMT


Presented:07/21/2022
Price:$39.52
Cap:$30.20B
Current Price:$50.95
Cap:$37.52B

Presented

Date07/21/2022
Price$39.52
Market Cap$30.20B
Ent Value$34.60B
P/E RatioN/A
Book Value$5.49
Div Yield0%
Shares O/S764.11M
Ave Daily Vol7,511,517
Short Int4.97%

Current

Price$50.95
Market Cap$37.52B
Las Vegas Sands Corp. engages in the development of destination properties. The firm operates through the following geographic segments: Macao, Singapore and the United States. The Macao segment handles the operations of The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao and Sands Macao. The Singapore segment includes the Marina Bay Sands. The United States segment consists of Las Vegas Operating Properties and Sands Bethlehem. Its properties feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants and other amenities. The company was founded by Sheldon G. Adelson in August 2004 and is headquartered in Las Vegas, NV.

Publicly traded companies mentioned herein: Las Vegas Sands Corp (LVS), Wynn Resorts Ltd (WYNN)

Highlights

The presenter is long shares of Las Vegas Sands Corp (LVS) based on a clear and simple story going forward centered around Singapore outperforming Street expectations, several tailwinds to LVS’s Macau business, and China reopenings. Analyzing these factors, he considers this an easy trade looking out to 2024. Modeling 2024 EBITDA above the Street’s $4.25B estimate and underwriting multiple recovery to 14x EBITDA, he reaches a price target of $75 per share from the current price of $38.

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Idea Discussion

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