Las Vegas (LVS) Sands Climbs to Fresh High on Q3 Earnings, Bullish Rating

We recently published Why These 10 Stocks are Soaring by Double Digits. Las Vegas Sands Corp. (NYSE:LVS) is one of the best performers on Thursday.

Las Vegas Sands jumped by 12.39 percent on Thursday to close at 56.89 apiece—just 2 percent shy of its 52-week high—as investors took heart from an impressive earnings performance, which also sparked a bullish analyst rating for its stock.

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 a 19.5 percent upside potential from its latest closing price.

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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 its common shareholders.

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