Live Nation Entertainment Inc [NYSE: LYV] traded at a low on Tuesday, posting a -0.51 loss after which it closed the day’ session at $98.20. The company report on February 22, 2024 at 4:07 PM that Live Nation Entertainment Reports Full Year And Fourth Quarter 2023 Results.
“The live music industry reached new heights in 2023, and demand for live music continues to build. Our digital world empowers artists to develop global followings, while inspiring fans to crave in-person experiences more than ever. At the same time, the industry is delivering a wider variety of concerts which draws in new audiences, and developing more venues to support a larger show pipeline. Against this backdrop, we expect all our businesses to continue growing and adding value to artists and fans as we deliver double-digit operating income and AOI growth again this year, with our profitability compounding by double-digits over the next several years.”–Michael Rapino, President and CEO, Live Nation Entertainment.
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The results of the trading session contributed to over 5469564 shares changing hands. Over the past one week, the price volatility of Live Nation Entertainment Inc stands at 2.32% while the volatility over the past one month is 2.54%.
The market cap for LYV stock reached $22.66 billion, with 233.30 million shares outstanding and 143.68 million shares in the current float. Compared to the average trading volume of 2.30M shares, LYV reached a trading volume of 5469564 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Live Nation Entertainment Inc [LYV]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LYV shares is $117.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LYV stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH MKM have made an estimate for Live Nation Entertainment Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 12, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $100 to $110. The new note on the price target was released on December 14, 2023, representing the official price target for Live Nation Entertainment Inc stock. Previously, the target price had yet another raise to $100, while Evercore ISI analysts kept a Outperform rating on LYV stock.
The Average True Range (ATR) for Live Nation Entertainment Inc is set at 2.41, with the Price to Sales ratio for LYV stock in the period of the last 12 months amounting to 1.00. Price to Free Cash Flow for LYV in the course of the last twelve months was 24.31 with Quick ratio for the last quarter at 0.96.
How has LYV stock performed recently?
Live Nation Entertainment Inc [LYV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.98. With this latest performance, LYV shares gained by 11.34% in over the last four-week period, additionally plugging by 16.84% over the last 6 months – not to mention a rise of 34.58% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LYV stock in for the last two-week period is set at 65.69, with the RSI for the last a single of trading hit 69.03, and the three-weeks RSI is set at 63.05 for Live Nation Entertainment Inc [LYV]. The present Moving Average for the last 50 days of trading for this stock 91.22, while it was recorded at 97.06 for the last single week of trading, and 87.39 for the last 200 days.
Live Nation Entertainment Inc [LYV]: Deeper insight into the fundamentals
Live Nation Entertainment Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.96 and a Current Ratio set at 0.96.
Earnings analysis for Live Nation Entertainment Inc [LYV]
With the latest financial reports released by the company, Live Nation Entertainment Inc posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.42/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LYV.
Insider trade positions for Live Nation Entertainment Inc [LYV]
The top three institutional holders of LYV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in LYV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in LYV stock with ownership which is approximately 5.8325%.
