For the first quarter of 2026, analysts expect Las Vegas Sands to report consensus revenue of $3.32 billion and EPS of $0.75, with the stock currently trading at $52.81—well below the average analyst price target of $68.22.
The central narrative for this report is the trajectory of Macau's adjusted property EBITDA margins, as investors look for signs that premium mass demand can withstand rising promotional competition.
While Singapore's Marina Bay Sands remains a powerhouse of growth and high margins, market participants are increasingly concerned about the cost of maintaining market share in the Cotai Strip. Analysts will be closely monitoring the impact of ongoing renovations at the Londoner Macao and any updates regarding the company’s aggressive capital return program, including dividends and share repurchases.