Live Nation Entertainment Inc. (NYSE:LYV) price is hovering lower on Wednesday, September 15, dropping -2.72% below its previous close.
A look at today’s price movement shows that the recent level at last check reads $88.68, with intraday deals fluctuating between $87.20 and $89.69. The company’s 5Y monthly beta was ticking 1.33. Taking into account the 52-week price action we note that the stock hit a 52-week high of $94.63 and 52-week low of $47.97. The stock added 8.70% on its value in the past month.
Live Nation Entertainment Inc., which has a market valuation of $19.49 billion, is expected to release its quarterly earnings report Nov 03, 2021 – Nov 08, 2021. Analysts tracking LYV have forecast the quarterly EPS to shrink by -0.08 per share this quarter, while the same analysts predict the annual EPS to hit -$3.04 for the year 2021 and up to $0.77 for 2022. In this case, analysts estimate an annual EPS growth of 62.60% for the year and 125.30% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $2.16 billion, with the likely lows of $1.68 billion and highs of $3.19 billion. The average estimate suggests sales growth for the quarter will likely rise by 1,014.60% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $4.96 billion for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 166.80% above that which the company brought in 2021.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 1 upward and no downward reviews. On the technical perspective front, indicators give LYV a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as 100% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 16 analysts have assigned LYV a recommendation rating as follows: 5 rate it as a Hold; 7 advise Buy while 2 analyst(s) assign an Overweight rating. 1 analyst(s) have tagged the Live Nation Entertainment Inc. (LYV) stock as Underweight, with 1 recommending Sell. In general, analysts have rated the stock Overweight, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that LYV’s price is at present 1.20% off the SMA20 and 4.19% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 53.05, with weekly volatility standing at 3.10%. The indicator jumps to 2.70% when calculated based on the past 30 days. Live Nation Entertainment Inc. (NYSE:LYV)’s beta value is holding at 1.34, while the average true range (ATR) indicator is currently reading 2.46. Considering analysts have assigned the stock a price target range of $70.00-$112.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $94.92. Based on this estimate, we see that today’s price at last check is roughly 18.86% off the estimated low and -29.82% off the forecast high. Investors will no doubt be excited to see the share price fall to $95.50, which is the median consensus price, and at that level LYV would be -10.7% from recent price.
Turning out attention to how the Live Nation Entertainment Inc. stock has performed in comparison to its peers in the industry, here’s what we find: LYV’s stock is -2.72% on the day and 51.18% in the past 12 months. Also, Madison Square Garden Sports Corp. (MSGS) is currently showing up trend of 0.13% while its price kept floating at 14.33% over the past year. Elsewhere in the market, the S&P 500 Index has rallied 0.25% in today’s early trading, with the Dow Jones Industrial also seeing a positive session on the day with 0.22%.
An analysis of the Live Nation Entertainment Inc. (NYSE:LYV) stock in terms of its daily trading volume indicates that the 3-month average is 2.00 million.
Current records show that the company has 215.70M in outstanding shares. The insiders’ percentage holdings are 2.40% of outstanding shares while the percentage share held by institutions stands at 73.70%. But the 20.69% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.