In the latest trading session, 0.54 million Live Nation Entertainment Inc. (NYSE:LYV) shares changed hands as the company’s beta touched 1.34. With the company’s most recent per share price at $87.60 changed hands at -$1.51 or -1.69% at last look, the market valuation stands at $19.58B. LYV’s current price is a discount, trading about -8.03% off its 52-week high of $94.63. The share price had its 52-week low at $47.97, which suggests the last value was 45.24% up since then. When we look at Live Nation Entertainment Inc.’s average trading volume, we note the 3-month average coming to 1.99 million.
Analysts gave the Live Nation Entertainment Inc. (LYV) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 1 out of 16 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 5 recommended LYV as a Hold, 7 felt it is a Buy and 1 rated the stock as Underweight. Live Nation Entertainment Inc.’s EPS for the current quarter is expected to be -$0.08.
Live Nation Entertainment Inc. (NYSE:LYV) trade information
Instantly LYV was in red as seen in intraday trades today. With action 3.52%, the performance over the past five days has been green. The drop to weekly highs of 89.80 on Monday, 09/13/21 subtracted -1.69% to the stock’s daily price. The company’s shares are showing year-to-date upside of 21.27%, with the 5-day performance at 3.52% in the green. However, in the 30-day time frame, Live Nation Entertainment Inc. (NYSE:LYV) is 6.06% up.
The consensus price target for the stock as assigned by Wall Street analysts is $94.67, meaning bulls need an upside of 7.47% from its recent market value. According to analyst projections, LYV’s forecast low is $70.00 with $112.00 as the target high. To hit the forecast high, the stock’s price needs a -27.85% plunge from its current level, while the stock would need to tank 20.09% for it to hit the projected low.
Live Nation Entertainment Inc. (LYV) estimates and forecasts
Data shows that the Live Nation Entertainment Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -1.16% over the past 6 months, a 60.10% in annual growth rate that is considerably higher than the industry average of 28.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Live Nation Entertainment Inc. will rise 96.70%, while the growth in revenue is estimated to hit 72.10% for the next quarter. Year-over-year growth is forecast to reach 166.80% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $2.16 billion. 9 analysts are of the opinion that Live Nation Entertainment Inc.’s revenue for the quarter ending Dec 2021 will be $1.98 billion. The company’s revenue for the corresponding quarters a year ago was $193.51 million and $237.38 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1,014.60%. The estimates for the next quarter sales put growth at 733.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 22.50%. The 2021 estimates are for Live Nation Entertainment Inc. earnings to increase by 62.40%.
Live Nation Entertainment Inc. is expected to release its next quarterly earnings report between November 03 and November 08.
Live Nation Entertainment Inc. (NYSE:LYV)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 33.91% of Live Nation Entertainment Inc. shares while 73.62% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 111.40%. There are 73.62% institutions holding the Live Nation Entertainment Inc. stock share, with Price (T.Rowe) Associates Inc the top institutional holder. As of Jun 29, 2021, the company held 7.13% of the shares, roughly 15.61 million LYV shares worth $1.37 billion.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 6.86% or 15.02 million shares worth $1.32 billion as of Jun 29, 2021.
Among Mutual Funds, the top two as of Apr 29, 2021 were Principal Mid Cap Fund and Vanguard Total Stock Market Index Fund. With 5.44 million shares estimated at $445.61 million under it, the former controlled 2.49% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.83% of the shares, roughly 4.02 million shares worth around $351.87 million.