A week ago, Las Vegas Sands Corp. (NYSE:LVS) came out with a strong set of quarterly numbers that could potentially lead to a re-rate of the stock. It was overall a positive result, with revenues beating expectations by 7.2% to hit US$3.6b. Las Vegas Sands reported statutory earnings per share (EPS) US$0.85, which was a notable 11% above what the analysts had forecast. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

After the latest results, the 16 analysts covering Las Vegas Sands are now predicting revenues of US$14.1b in 2026. If met, this would reflect a modest 3.0% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to ascend 15% to US$3.19. Before this earnings report, the analysts had been forecasting revenues of US$13.8b and earnings per share (EPS) of US$3.22 in 2026. There doesn't appear to have been a major change in sentiment following the results, other than the small increase to revenue estimates.

Even though revenue forecasts increased, there was no change to the consensus price target of US$69.56, suggesting the analysts are focused on earnings as the driver of value creation. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Las Vegas Sands at US$78.50 per share, while the most bearish prices it at US$59.00. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. It's pretty clear that there is an expectation that Las Vegas Sands' revenue growth will slow down substantially, with revenues to the end of 2026 expected to display 4.0% growth on an annualised basis. This is compared to a historical growth rate of 29% over the past five years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 9.0% annually. Factoring in the forecast slowdown in growth, it seems obvious that Las Vegas Sands is also expected to grow slower than other industry participants.

The Bottom Line

The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. They also upgraded their revenue estimates for next year, even though it is expected to grow slower than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

With that in mind, we wouldn't be too quick to come to a conclusion on Las Vegas Sands. Long-term earnings power is much more important than next year's profits. We have estimates - from multiple Las Vegas Sands analysts - going out to 2028, and you can see them free on our platform here.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.