Live Nation Entertainment Inc (NYSE:LYV) does about 2.23M shares in volume on a normal day but saw 983523 shares change hands in Tuesday trading. The company now has a market cap of 23.71B USD. Its current market price is $102.73, marking a decrease of -0.07% compared to the previous close of $102.80. The 52 week high reached by this stock is $107.24 whilst the lowest price level in 52 weeks is $64.96.
Live Nation Entertainment Inc (LYV) has a 20-day trading average at $104.33 and the current price is -4.21% off the 52-week high compared with 58.14% distance from its 52-week low. The 50-day simple moving average of the closing price is $97.38 and its 200-day simple moving average is $89.68. If we look at the stock’s price movements over the week, volatility stands at 1.54%, which increases to 1.85% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 52.50 to suggest the stock is neutral.
The consensus objective for the share price is $118.36, suggesting that the stock has a potential upside of 13.21% over the period.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 12, 2024 when ROTH MKM upgraded the stock to “Buy” and issued a price target of between $92 and $114. Morgan Stanley also upgraded the stock to “Overweight” from Equal-Weight on December 14, 2023 at a price target of $100-$110. Evercore ISI upgraded its price target at $100.
Live Nation Entertainment Inc (LYV) stock is down -2.05% over the week and 3.00% over the past month. Its price is 9.75% year-to-date and 48.60% over the past year.
The stock last released its quarterly earnings report for quarter ended 12/30/2023, with the company’s earnings per share (EPS) of -$1.25 below consensus estimates by -$0.21. LYV’s earnings per share are forecast to grow by 33.60% this year and 20.80% over next year. Expected sales for next quarter are $6.18 billion, which analysts say will come at $24.49 billion for the current fiscal year and next year at $26.5 billion. In addition, estimates put the company’s current quarterly revenue at an average of $3.27 billion.
To reach the target analysts have set, the stock logically needs to grow 13.21 percent from here.
Outstanding shares total 233.30M with insiders holding 32.14% of the shares and institutional holders owning 75.85% of the company’s common stock. The company has a return on investment of 4.43% and return on equity of 474.88%. The price to earnings ratio (P/E ratio) amounts to 78.22 while the forward price to earnings ratio is 44.53. The beta has a value of 1.31. Price to sales ratio is 1.04.
