Beverly Hills-based Live Nation Entertainment, Inc. (LYV) operates as a live entertainment company worldwide. With a market cap of $23.6 billion, Live Nation operates through Concerts, Ticketing, and Sponsorship & Advertising segments.
Companies worth $10 billion or more are generally described as "large-cap stocks," Live Nation fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size, influence, and dominance in the entertainment industry. It owns, operates, and has exclusive booking rights for or has an equity interest in venues, including House of Blues music venues, The Fillmore in San Francisco, Brooklyn Bowl, the Hollywood Palladium, and more.
Live Nation touched its 52-week high of $107.24 on Mar. 28 and is currently trading 2.7% below that peak. LYV gained 13.5% over the past three months, outpacing Nasdaq Composite’s ($NASX) marginal gains over the same time frame.
However, over the longer, LYV has underperformed NASX. Despite rallying 11.5% in 2024 and 26% over the past 52 weeks LYV has lagged behind NASX’s 20% gains on a YTD basis and 31.7% returns over the past year.
To confirm the bullish trend, LYV has mostly traded above its 50-day and 200-day moving averages over the past year with some fluctuations.
Shares of Live Nation rose 1.7% in the trading session after the release of its Q2 earnings on Jul. 30. The company reported a robust 7% year-over-year growth in revenues, reaching $6 billion, driven primarily by a 7.6% growth in its concerts segment, which totaled $5 billion. Its net income also saw a modest growth of 1.5%, amounting to $298 million. Additionally, its EPS of $1.03 exceeded the consensus estimates by 5.1%, bolstering investor confidence.
Live Nation’s competitor, Warner Music Group Corp. (WMG), has dipped 4% over the past 52 weeks and 14.8% in 2024, underperforming LYV’s double-digit returns.
Among the 19 analysts covering the LYV stock, the consensus rating is a “Strong Buy.” The mean price target of $120.50 represents a potential upside of 15.5% from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
