The trading price of Live Nation Entertainment Inc. (NYSE:LYV) floating higher at last check on Wednesday, July 21, closing at $79.09, 2.73% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $74.50 and $77.50. In examining the 52-week price action we see that the stock hit a 52-week high of $94.63 and a 52-week low of $44.95. Over the past month, the stock has lost -10.12% in value.
Live Nation Entertainment Inc., whose market valuation is $17.14 billion at the time of this writing, is expected to release its quarterly earnings report Aug 03, 2021 – Aug 09, 2021. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$1.2 per share this quarter, however they have predicted annual earnings per share of -$3.63 for 2021 and $0.78 for 2022. It means analysts are expecting annual earnings per share growth of 55.30% this year and 121.50% next year.
Analysts have forecast the company to bring in revenue of $550.66 million for the current quarter, with the likely lows of $316.4 million and highs of $767 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2021 is $5.05 billion. The company’s revenue is forecast to grow by 171.60% over what it did in 2021.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Live Nation Entertainment Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest LYV has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently Hold.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned LYV a recommendation rating is 18. Out of them, 8 rate it a Hold, while 7 recommend Buy, whereas 2 assign an Overweight rating. 0 analyst(s) have tagged Live Nation Entertainment Inc. (LYV) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that LYV’s price is currently -6.95% off the SMA20 and -8.52% off the SMA50. The RSI metric on the 14-day chart is currently showing 39.36, and weekly volatility stands at 3.79%. When measured over the past 30 days, the indicator reaches 3.32%. Live Nation Entertainment Inc. (NYSE:LYV)’s beta value is currently sitting at 1.34, while the Average True Range indicator is currently displaying 2.87. With analysts defining $70.00-$110.00 as the low and high price targets, we arrive at a consensus price target of $92.62 for the trailing 12-month period. The current price is about 11.49% off the estimated low and -39.08% off the forecast high, based on this estimate. Investors will be thrilled if LYV’s share price rises to $92.00, which is the median consensus price. At that level, LYV’s share price would be -16.32% below current price.
To see how Live Nation Entertainment Inc. stock has been performing today in comparison to its peers in the industry, here are the numbers: LYV stock’s performance was 2.73% at last check in today’s session, and 56.45% in the past year, while eBay Inc. (EBAY) has been trading 0.47% in recent session and positioned 18.98% higher than it was a year ago. Furthermore, World Wrestling Entertainment Inc. (WWE) showed an increase of 1.11% today while its price kept inclining at 5.23% over the past year. Live Nation Entertainment Inc. has a P/E ratio of 0. Also during today’s trading, the S&P 500 Index has surged 0.59%, while the Dow Jones Industrial also saw a positive session, up 0.66% today.
An evaluation of the daily trading volume of Live Nation Entertainment Inc. (NYSE:LYV) indicates that the 3-month average is 2.16 million. However, this figure has increased over the past 10 days to an average of 2.45 million.
Currently, records show that 214.53 million of the company’s shares remain outstanding. The insiders hold 2.40% of outstanding shares, whereas institutions hold 74.10%. The stats also highlight that short interest as of May 27, 2021, stood at 12.95 million shares, resulting in a short ratio of 5.47 at that time. From this, we can conclude that short interest is 5.92% of the company’s total outstanding shares. It is noteworthy that short shares in May were up slightly from the previous month’s figure, which was 11.99 million. However, since the stock’s price has seen 4.78% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.