Las Vegas (LVS) Sands Climbs 18.7%, Sets New Record High on Bullish Rating, StellarQ3

We recently published 10 of Wall Street’s Outperformers. Las Vegas Sands Corp. (NYSE:LVS) is one of the top-performing stocks last week.

Las Vegas sands surged by 18.66 percent week-on-week to hit a new all-time high as investor optimism was fueled by a bullish analyst coverage and an impressive earnings performance in the third quarter of the year.

On Friday alone, the stock climbed to its highest price of $58.29 before finishing the day just up by 1.25 percent at $57.60 apiece.

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In a market note, investment firm Stifel raised its price target for Las Vegas Sands Corp. (NYSE:LVS) to $68 from $60, while maintaining a “buy” recommendation. The new figure represented an 18 percent upside potential from its latest closing price.

Stifel’s coverage followed the company’s earnings performance in the third quarter of the year, with attributable net income jumping 52 percent to $419 million from $275 million in the same period last year. Net revenues surged by 24 percent to $3.33 billion from $2.68 billion in the same comparable period.

Amid the strong performance, Las Vegas Sands Corp. (NYSE:LVS) announced that it would pay $0.25 worth of dividends to all common shareholders as of November 4, payable on November 12, 2025.

For next year, Las Vegas Sands Corp. (NYSE:LVS) said it approved a plan to raise its annual dividend rate to $1.20, or equivalent to $0.30 every quarter, to all common shareholders.

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Disclosure: None. This article is originally published at Insider Monkey.